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 ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
Indian Economy
- 1 India’s Economic Growth: Key Statistics & Trends
- 2 Rising Employment Gap despite Strong GDP Growth
- 3 Potential GDP: Determinants and Hindrances
- 4 Inclusive Growth in India
- 5 Rising Income Inequality
- 6 Informal Sector Inclusion in GDP
- 7 Viksit Bharat@2047 & $5 Trillion Economy Roadmap
- 8 Debt Management
- 9 GST: Current Scenario, Impacts & Concerns of States
- 10 Centre-State Fiscal Imbalances
