Economic growth and impact of services sector in india

Abstract

Service sector is the lifeline for the social economic growth of a country. It is today the largest and fastest growing sector globally contributing more to the global output and employing more people than any other sector. Services sectors have become more important in recent years as advances in technology have permitted new means of providing services across borders. The growth in output in the sector in recent times has mostly come from the rapid development of skill intensive services in the information technology and professional service segments, mostly oriented toward the external market. This study investigates to growth, contribution and development of services sector in Indian economy. Further this study discusses to economic policy and impact of services sector.