Service Sector Case Study

CHAPTER-I (INTRODUCTION)

A. Overview of the service sector and its contribution in the economy

OVERVIEW:-

The services sector is not only the major sector in India’s GDP, but has also attracted foreign investment flows, contributed to exports as well as provided large-scale employment. India’s services sector covers a wide variety of activities such as trade, hotel and restaurants, transport, storage and communication, financing, banking, insurance, real estate.

• The services sector is the key driver of India’s economic growth. The sector contributed around 53.8 % of its Gross Value Added in 2015-2016 and employed 28.6 % of the total population. Net services exports from India grew 14.6% in the

It is noticed that Service sector has developed as one of the most important and the fastest-growing sector in the world economy in the past few decades, according to a research analysis on service sector in Indian economy. It also highlights reform measures that will enable the service sector to not only to grow at a faster pace but also to create quality employment and attract investment in the country. The study proves that service sector has grown at a higher rate in comparison to other sectors in the economy. Service sector’s growth rate is found to be higher than growth of overall GDP of India. The service sector is the 2nd largest employer where trade, hotels and restaurants and community, social and personal services are the significant generator of employment. So, service sector which is a dominant part in terms of its growth and shares serves as a main engine for the growth of the Indian economy.

B. Overview of the industry and its contribution in the service sector

• "Cargo Handling Service" means loading, unloading, packing or unpacking of cargo and cargo management. cargo handling services provided for freight cargo management, for all modes of transport. cargo handling services incidental to freight, but does not include handling of export cargo or passenger baggage or mere transportation of goods

• Clarifications issued by the Board / Ministry:

1. “Cargo handling service does not cover mere transportation of