Indian Service Sector

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  • Topic: Ajanta Caves, Economy, Aurangabad, Maharashtra
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  • Published : January 6, 2013
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quarterly newletter of asa and cci
Dear Colleagues, This ‘bumper’ issue says so much, what more to say! But one tries  Let’s begin with business. As soon as the initial feelers of recovery were felt, the partners got into the driver seat. Be it strategizing at the APMM and internal meetings, enhancing visibility through seminars or saying a sincere thank you through our dinners - we were on the move! And this year the APMM was different, not just in terms of content, issues or interactions, which seems to ever increase; but in terms of participation by our associates from Pune, Ahmedabad and Chandigarh. Kudos to them for gelling as a team and contributing so much to our efforts. Wow! 19 years have flown by. My before and after photographs clearly tell a story. Anniversary was fun and I was persuaded into exhibiting my 2 left feet, thanks to the young ladies there. One should remain alert and not get talked into unfair deals by the so called ‘fairer’ sex. Next anniversary, I come better prepared with dancing lessons! What a pleasure to have in our midst so many new faces (and such wonderful people too), many well deserved movements upwards and so many possibilities to look forward too. Are you all ready to roll? As regards my affirmation, let’s see which left leg steps forward first….. Keep working, keep partying.

issue XXXIII January-March 2010

INDIAN SERVICE INDUSTRY
The service industry forms the backbone of social and economic development of a country. It has emerged as the largest and fastest-growing sectors in the world economy. The service sector has shown a growth rate higher than that of agriculture and manufacturing sectors. This sector covers a wide range of activities, such as trading, transportation, communication, financial, real estate and business services. In India, the services sector, as a whole, contributed as much as 68.6 per cent of the overall average growth in gross domestic product (GDP) between the years 200203 and 2006-07. The most important services in the Indian economy have been in the health and education sectors. These are one of the largest and most challenging sectors and hold a key to the country’s overall progress. A strong and well-defined health care sector helps to build a healthy and productive workforce. The era of economic liberalisation has ushered in a rapid change in the service industry. As a result, over the years, India has been witnessing a transition from agriculture-based economy to a knowledgebased economy. The knowledge economy creates, disseminates, and uses knowledge to enhance its growth and development. One of the major functional pillars of this economy is Information Technology (IT) and IT-enabled services (ITeS) industry. IT continues to be a dominating sector in the overall growth of the Indian industry. Another major and upcoming sector is retail. It has been one of the fastest growing sectors both in terms of turnover and employment. Many national and global players have been investing in the retail segment and making all out efforts to further expand the sector. The service sector holds immense potential to accelerate the growth of the economy and promote general well-being of the people. They offer innumerable business opportunities to the investors. They have the capacity to generate substantial employment opportunities in the economy as well as increase its per capita income. Without them the Indian economy would not have acquired a strong and dominating place on the world platform.

Best regards

Ajay Sethi

bEWARE : COMPETITION CAN OVERTAKE YOU!
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