Be Careful, Follow these steps and save your time
Right Click on your Project Explorer.
Select New-> Project -> Android Application Project from Existing Code
Browse upto this path only - "C:\Users**your path**\Local\Android\android-sdk\extras\google\google_play_services"
Be careful brose only upto - google_play_services and not upto google_play_services_lib
And this way you are able to import the google play service lib.
Let me know if you have any queries regarding the same.
Thanks