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Exhorting students to take advantage of the expanding economy, Finance Minister Arun Jaitley on Tuesday said education has become a powerful tool, which is contributing to growth of the services sector.

Mr Jaitley was the chief guest at the Convocation of Delhi School of Business, Vivekananda Institute of Professional Studies (VIPS) here.

Addressing the students, Mr Jaitley also called upon them to work hard in their initial years to attain higher goals than remaining mediocre.

For us in India, education is a powerful resource. It is a powerful resource because the largest contribution to our economy comes from services sector. And in the services sector, the human resource itself has the largest role to play," he said.

The services sector contributes about 60 per cent to the country's GDP.

Referring to declining population in several developed countries, the minister said the movement of human resource is "an important item" on the agenda of international trade talks.

VIPS, affiliated to Guru Gobind Singh Indraprastha University, conducts LLM, MCA, LLB, BBA LLB, BCA and B.COM (Hons), among other courses.