Services Sector: Contribution to GDP and Employment Trends

India’s services sector contributed around 55% of Gross Value Added (GVA) in FY 2024-25, while employing approximately 30% of the workforce. Supported by booming IT/BPM exports, fintech, tourism, and healthcare, it remains the dominant growth engine, spurting employment and global trade in the knowledge economy.

Recent Developments

  • The Indian services sector was the largest recipient of FDI inflows worth Rs. 7,34,419 crore (US$ 84.56 billion) between April 2000-September 2024.
  • The government has launched several initiatives to promote Information Technology (IT) and IT-enabled Services (ITeS). As part of the BharatNet project, 213,398 Gram Panchayats have been prepared to provide services.
  • Government is planning ....
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Indian Economy