Description
New Century Publications Services Sector in India by A Vijayakumar
Since the early 1990s, the growth process in India has been marked by a remarkable performance by the services sector. The experience of developed countries suggests that growth in the services sector followed the growth of the industrial sector. However, India's experience in this regard is somewhat different. The sectoral shift in favor of the services sector over the last two decades has taken place in the face of an almost stagnant share of industry and a reduced share of agriculture in GDP. In fact, it was the growth performance of the services sector during the 1990s which sustained the overall growth of the Indian economy, particularly in times of adverse agricultural shocks and industrial slowdown. India is now an important venue for many tasks in services such as financial accounting, call centers, processing insurance claims, and medical transcription. The future potential of growth in these areas appears to be considerable. This book explains recent policy measures by the government of India to make India's services sector internationally competitive. The book focuses on financial services, information technology services, retail trading services, healthcare services, insurance services, educational services, transportation services, communication services, and tourism. Additionally, it includes a chapter on the taxation of services in India.