Service Sector

Only available on StudyMode
  • Download(s) : 58
  • Published : December 31, 2012
Open Document
Text Preview
Role of Service Sector in Indian Economy

Compiled By:

Sandesh Gupta

Prof. Sukhada Waknis

Submitted To:

ROYAL COLLEGE OF ARTS, SCIENCE, COMMERCE AND MANAGEMENT STUDIES

FYBMS (Sem - II)

1

Role of Service Sector in Indian Economy

“Project work is never an individual effort” We would like to thank Prof: A.E. Lakdawala for giving us the opportunity to do BMS course in his college. We would also like to Prof: Sukhada Waknis for providing her guidance in completing this project. Lastly, we would also like to thank all those persons who are directly or in directly related to this project. FYBMS (Sem - II) 2

Role of Service Sector in Indian Economy

Introduction Economy of India : Analysis, Character & Structure Early Indian economy Indian capital market : An Overview Sectors share in national income National stock exchange Indian stock exchange : An umbrella growth Economic planning in India Service and Infrastructure sectors Indo – Chinese relationship Liberalisation Manufacturing sector – A comparative study

FYBMS (Sem - II)

3

Role of Service Sector in Indian Economy

Introduction
Definition
The part of industry or business which deals with the marketing and selling of intangible products rather than physical goods. The service sector has grown steadily in recent years and now contributes the largest share of GDP. This sector includes tourism. As of 2004, the largest numbers of foreign visitors to Germany came from the Netherlands, followed by the United States and the United Kingdom. The tertiary sector of industry, also called the service sector or the service industry, is one of the three main industrial categories of a developed economy, the others being the secondary industry (manufacturing and primary goods production such as agriculture), and primary industry (extraction such as mining and fishing).

Indian economy Salient Features:
Economy transformed from primarily agriculture, forestry, fishing, and textile manufacturing in 1947 to major heavy industry, transportation, and telecommunications industries by late 1970s. Central government planning 1950 through late 1970s giving way to economic reforms and more private-sector initiatives in 1980s and 1990s. Agriculture predominates and benefits from infusion of modern technology by government. World Bank Group and developed nations provide most aid; Japan largest donor. Major trade partners United States, Japan, European Union, and nations belonging to Organization of the Petroleum Exporting Countries. FYBMS (Sem - II) 4

Role of Service Sector in Indian Economy

India Currency and Exchange Rate:
Rupee; US$1 = Rs35.67 (July 1996).

Fiscal Year (FY):
April 1-March 31.

Gross Domestic Product (GDP):
Rs36.7 trillion (nearly US$1.2 trillion) in 1994 (estimated). GDP annual average growth rate 3.8 percent in 1994.

Indian Foreign Trade:
Principal export trade with European Union, United States, and Japan. Main commodities agricultural and allied products, gems and jewelry, and ready-made garments. Iron ore, minerals, and leather and leather products also important. Exports 7.7 percent of GDP in FY 1992. Principal import trade with European Union, United States, and Japan. Major imports (28 percent of total) oil products from Middle East. Other major imports chemicals, dyes, plastics, pharmaceuticals, uncut precious stones, iron and steel, fertilizers, nonferrous metals, and pulp paper and paper products. Imports 9.3 percent of GDP in FY 1992.

FYBMS (Sem - II)

5

Role of Service Sector in Indian Economy

Balance of Payments:
Negative trade balance in late 1980s and early 1990s. In 1993 estimated exports US$22.7 billion versus US$23.9 billion imports.

Foreign Aid:
Most aid provided by Aid-to-India Consortium, consisting of World Bank Group and Austria, Belgium, Britain, Canada, Denmark, Germany, France, Italy, Japan, Netherlands, Norway, Sweden, and United States. Japan largest aid granter and...
tracking img