Services

Services Industry Overview

The services sector is the biggest in India and contributes quite half the Gross Value Added. As per the second advance estimates, services sector shares reached 55.40 percent in 2020. The services sector grew at a CAGR of 1.45 percent to US$ 1,064.9 billion in 2020 from US$ 1,006 billion in 2016.
What is an example of a service industry?

Service industries include
1. Banking
2. Communications
3. wholesale and retail trade,

Professional services include
1. Engineering
2. Computer software development
3. Medicine
4. Nonprofit economic activity
5. All consumer services

Government services include
1. defense and administration of justice
What are the types of the service industry?
1. Information Technology
2. Tourism and Hospitality Services
3. Medical Services
4. Travel, Transport, and Logistics Services
5. Accounting and Finance Services
6. Audio Visual Services
7. Legal Services
8. Communication Services
9. Construction Engineering Services
10. Environmental Services
11. Financial Services and Education

What is the GDP service sector?

The services sector accounts for 53.67% of total India's GVA of Rs. 137.51 lakh crore. The economic sector is at the second spot and contributing around 32% of the Indian GDP. The agriculture sector is at the third spot and contributing around 17% of the Indian GDP.