Service sector in india

Service sector in india

1. SERVICE SECTOR INDUSTRY IN INDIA Presented by- Prabahon Bora(38) Sony Sahu (50) Alisha Yasmin Rehman (05) Yeashmeen Rashid(57) Priyanka Hazarika (39) Sharadi Baruah (48) Zafrid Sahid Hussain (58)

2. CONTENT Introduction Types of service industries Effects on economy Service sector industries in India and their effects on Indian economy SWOT analysis of Indian service sector Initiatives of government Conclusion

3. Introduction WHAT IS SERVICE SECTOR? Service sector is the third of the three economic sectors. This sectors provides intangible goods like services. Financial services, management consultancy, telephony and IT are good examples of service sector. WHAT IS SERVICE SECTOR INDUSTRY? The service sector industries are involved in providing services to businesses as well as final consumers.

4. Types of service sector Service sector can be broadly divided into two parts: (A)business services Banking Insurance Transportation Warehousing (B) Social services Education Health Administration (C)Personal services A Tourism. b. restaurants . C Recreational.

5. Effects on economy The service sector plays an increasingly important role in the global economy and the growth and development of countries. The 2011 World Development Indicators show that the services sector accounted for almost 71% of global GDP in 2010. For developing countries service trade is the new frontier for enhancing their participation in international trade.  Relative resilience in the latest financial and economic crises.

6. Service sector industries in India and their effects on Indian economy Service sector industries in India Wide variety of sectors such as health care, tourism, education, engineering, communications, transportation, information technology, banking, finance, management, among others are available in India. The Government of India recognizes the importance of promoting growth in services sectors and provides several incentives

7. Effects on Indian Economy The services sector is the key driver of India’s economic growth. The sector contributed around 66.1 per cent of its Gross Value Added growth in 2015-16, thereby becoming an important net foreign exchange earner and the most attractive sector for FDI (Foreign Direct Investment) inflows. In 2014, 57.9% of total GDP was produced by Service sector. In Services sector, India world rank is 11 and GDP is $1185.79 billion.  Indian service sector has  attracted FDI equity inflows in the period April 2000-March 2017, amounting to about US$ 59.47 billion which is about 17.92 per cent of the total foreign inflows.

8. Swot analysis on Indian service sector Strength Highly skilled, English-speaking workforce Cheaper workforce Abundant manpower Weakness Cost of telecom and network infrastructure is much higher in India than in US Lack of financial suppliers Political opposition Opportunities Indian companies should work closely with western governments and assuage their concern and issues. Development market Can be branded as quality ITES destination rather than a low cost destination Threats Competition from China, Philippines and south Africa could have an edge on the cost factor Slowdown of demand Customer indecisiveness: the requirement change and change often.

9. Initiatives of government Ministry of Civil Aviation, Government of India, launched ‘ DigiYatra ’ Various schemes to attracts FDI This service sectors are increasing standards of living of Indian people, quality of service available. Providing employment to the citizens.

10. CONCLUSION Service Sector is linked directly or indirectly to everyone for their livelihood. Service Sector plays an important role for the development of a country. Government has taken initiatives for providing access to government services.

11. REFERENCES Nayyar Gaurav,2012;The service sector in India’s development. Bhattacharjee C,2005;Public sector management-An Indian Perspective. Vijayakumar A.,2008;Service sector in India:Recent Policy Initiatives. http://en.m.wikipedia.org