Increasing significance of services sector in the Indian economy:
About 55 % of the total size of the economy and GVA (Gross Value Added) growth.
Two-thirds of total FDI inflows into India.
About 38 per cent of total exports.
More than 50 % of GVA in 15 out of the 33 states and UTs.
Gross Value Added growth of the services sector moderated in 2019-20 as suggested by various high-frequency indicators and sectoral data such as air passenger traffic, port and shipping freight traffic, bank credit etc.
On the bright side, FDI into services sector has witnessed a recovery in early 2019-20.
