Services Sector in India : Recent Policy Initiatives

Contents Preface. 1. Growth of services sector in India. 2. Financial services. 3. IT and IT enabled services. 4. Retail trading services. 5. Healthcare services. 6. Insurance services. 7. Educational services. 8. Transport and communication services. 9. Tourism. 10. Taxation of services in India. Appendix. Index. Since the 1990s the growth process in India has been marked by a remarkable performance of the services sector. The experience of developed countries suggests that growth of services sector followed the growth of industrial sector. However India's experience in this regard is somewhat different. The Sectoral shift in favour of services sector over the last two decades has taken place in the face of an almost stagnant share of industry and a reduced share of agriculture in GDP. In fact it was the growth performance of the services sector during the 1990s which sustained the overall growth of the Indian economy particularly in times of adverse agricultural shocks and industrial slowdown. While software exports are a well known success story India is now an important venue for many tasks in services such as financial accounting call centers processing insurance claims and medical transcription. The future potential of growth in these areas appears to be considerable. This book explains recent policy measures by the Government of India to make India's services sector internationally competitive. 252 pp.…