Services

The services sector in India is a dynamic and diverse component of the economy, encompassing industries ranging from traditional services like retail and transportation to modern high-value services such as IT, financial services, and telecommunications. It is the largest contributor to India’s GDP, accounting for over 55%, and a major source of employment, particularly in urban areas. Key sub-sectors driving growth include IT and software services, financial services, telecommunications, retail, healthcare, education, and tourism.

Despite its impressive growth, the sector faces challenges like skill gaps, infrastructure limitations, regulatory hurdles, and global competition. The government has launched initiatives like Digital India, Skill India, and FDI reforms to address these issues and unlock the sector’s full potential. The services sector’s continuous expansion remains pivotal to India’s transformation into a global economic powerhouse.