SERVICES
October 2018
Table of Content
Executive Summary 3
Advantage India 4
Market Overview and Trends 6
Strategies Adopted… 13
Growth Drivers and Opportunities 15
Industry Associations 26
Useful Information 28
EXECUTIVE SUMMARY
Key Driver of Economic Growth
The services sector of India remains the engine of growth for India’s economy and contributed per cent of India’s Gross Value Added at current price in Q1 2018-19.
At current prices, the sector is estimated to grow by per cent year-on-year in Q1 2018-19.
India service exports of US$ billion in Q1 2018-19 (P).
As of 2017, 33 per cent of India’s employed population was working in the services sector.
Global Technology Hub
A large pool of skilled IT manpower has made India into a global outsourcing hub. It mands a 55 per cent share in the global sourcing market.
Further, India is the digital capabilities hub of the world with presence of 75 per cent of global digital talent.
Attractive Ecosystem
The government’s move to launch ‘Startup India’ aims to create an inclusive ecosystem for entrepreneurs and push for innovation. Services are a big part of this system. The technology infrastructure required for such an ecosystem has increased the potential for the sector in India.
Low setup costs make this sector an attractive investment destination
India also has reasonably well developed financial markets.
All these factors make Indian services sector an attractive ecosystem for both the entrepreneurs and the investors.
Note: Q1 2018-19 – April-June 2018, P - Provisional
Source: Economic Survey of India, DIPP, MOSPI, RBI
Services
ADVANTAGE INDIA
ADVANTAGE INDIA
India is the export hub for software services. It has a 55 per cent share in the US$ 185-190 billion global sourcing market in 2017.
India is also ing a destination for medical tourism as a result of cheaper but quality healthcare services.
India has immense potential in tourism services and earned Rs 1,84,971 cror
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