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This book addresses a range of issues on the growth of India's services sector, including factors contributing to the rise of services, output measurement and heterogeneity, growth of services exports, and employment in services sectors.
A striking aspect of India's recent growth has been the dynamism of its services sector. In 2010, it accounted for 57 percent of the country's GDP and 25 percent of its total employment. The results do not conform to the growth experience of currently industrialized countries or other developing economies. Is the increasing share of the service sector in India's total output simply notional, as several activities that were earlier classified in the industrial sector are now subsumed in services' value added, or because the relative price of services has increased over time? No. The sector's growth is real - it is linked to household final demand, policy reforms and increased service exports. Is this service-led growth process sustainable? That remains an open question because the service sector is highly heterogeneous, ranging from software services and business process outsourcing to wholesale and retail trade and personal services. These subsectors vary considerably in the context of different economic characteristics that are important for development.
Manufacturing-led development has provided the traditional model for creating jobs and prosperity. But in the past three decades the conventional pattern of structural transformation has changed, with the services sector growing faster than the manufacturing sector. This raises critical questions about the ability of developing economies to close productivity gaps with advanced economies and to create good jobs for more people. At Your Service? The Promise of Services-Led Development (www.worldbank.org/services-led-development) assesses the scope of a services-driven development model and policy directions that can maximize the model’s potential.
Comparison of the service sector in the USSR and abroad - maintains that the small share of the service sector in the soviet economy is due chiefly to the socialist economic system and to its economic growth strategy, covers theoretical aspects, industrial aspects, the industrial structure, service labour force, the service gap in commerce, etc., and relies primarily on data for the period up to 1968. Bibliography, references and statistical tables.
This book analyzes the Indian service sector's heterogeneity. Unlike the few other books in the area, this analysis uses hitherto unutilized data bases, more rigorous methods, and examines some unexplored questions.
India has been a growth champion in recent years and has succeeded in taming inflation, the current account deficit and non-performing loans. India's participation in the global economy has risen, with outstanding performances in some services, while the largest diaspora in the world is an asset in developing new markets. India has also lifted many millions of people out of poverty and has made access to housing for all a priority. Ambitious structural reforms -- including better targeted household support, financial inclusion initiatives, the implementation of the Goods and Services Tax, the Insolvency and Bankruptcy Code, the new approach to federalism and the corporate income tax reform -- have played a key role.
Papers presented at a national workshop held during 4-8 August 2005; in Indian context.
This book addresses a range of issues relating to the nature and implications of growth of India’s services sector, including factors contributing to the rise of services, output measurement and heterogeneity, growth of services exports, and employment in services sectors. From service tax, exchange rate and services exports, policy interest, employment potential and diversity of the sector to challenges in financial inclusion, trajectories of ICT services and contribution of education to GDP, it brings together diverse themes to highlight major concerns in the wake of the prominent role that services have played in placing India among the fast-growing economies in the world in recent years. The services sector in India accounts for more than 60 per cent of the GDP of the country and 28.6 per cent of its employed across government, private or state corporations and non-government organisations. The volume explores whether the services sector (beyond agriculture and industry) holds the promise of fulfilling the benefits from India’s demographic dividend for its economic transformation through sustainable growth. With key empirical analyses of household, enterprise and macroeconomic data for India within both formal and informal sectors, this topical book will be useful to scholars and researchers of economics, Indian economy, political economy, development economics, development studies, public policy and South Asian studies and also to development professionals, policy makers and industry specialists.
This book is a sharing of research on Foreign Direct Investment scenario of India, making it specific to the highest contributing sector i.e., Services, followed by the case study of German investment which also holds a specific place in the investment environment. Emphasis has been placed on simplicity and practicality through the use of statistical and econometric tools and techniques. This ensures the worth and applicability of the book for a large spectrum of people. The target audience being the researchers, academicians, students, investors, as well as the policymakers, who are associated directly or indirectly with the investment environment. Further those who wanted to have an insight about foreign investment through step by step are assured to learn something new here.
Massive private investment that complements public investment is needed to close the demand-supply gap and make reliable power available to all Indians. Government efforts have sought to attract private sector funding and management efficiency throughout the electricity value chain, adapting its strategy over time.