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.