research paper on service industry in india

The Service Sector as India's Road to Economic Growth: An analysis

Services are tasks or functions, which are performed by a group or an individual, for which price is decided on the basis of demand if that particular service is available in the related market. Services are sometimes referred to as intangible goods. The consumption is done only at the point of production. Services are typically non-transferable that means they cannot be resold or purchased at a different price. In an economy the service sector plays a vital role in the resource allocation process. The service industry is not only the World's largest industry, but also contributes major portion in GDP. It generates three times more employment as compared to the manufacturing sector. The contribution of the service industry to the GDP of countries like India is over 56.1% in 2015-16. In addition to this more than 50% of total export of services comes from export of software services in India. On the basis of this rapid growth in service sector growth rate will going to be more than 60 per cent in the next fifteen years in India. After China, India has got the second position as the fastest growing service providing country in the world. The present study is all about the analysis of the potential and capability of the service sector in the economic growth of the country over the last couple of decades. The main aim of this study is to see the correlation between the growth in the Indian service sector along with growth in the economy in terms of growth in GDP, per capita income and foreign investment.

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India's service sector – shaping future of indian retail industry ☆.

The Purpose of my Research Paper is to focus on potentiality and strength of India's Service Sector in shaping Business through Retail Sector. The distinct characteristics of services are intangibility, perishability, inseparability, variability, ownership, simultaneity; quality measurement etc. This study is to discover the remarkable changes in Service Sector and its overall impact in structuring Business through Retail Sector. As Service plays vital and crucial role in the pace growth of Indian Economy, this research paper also depict the role of services in Modern Economy, reasons for the growth of Services in India with addition of analyzing the transformation in this Sector. With its emerging nature it has become the fastest-growing sectors on the global landscape and hence it has made substantial contribution towards global output as well as employment generation. According to Adrian Payne four factors i.e. economic, political, social and demographic changes are responsible for stimulating growth in service sector. They are: demographic, social, economic and political changes. With around 1.2 billion population India's Services share to Total GDP for the year 2012-2013 is 59.29% and Retail sector contributes by 14% to 15% of its GDP for Indian Economy. My research paper will put emphasize on how Retail Industry get empowered by this “Tertiary Sector” and implication on FDI (Foreign Direct Investment) .The research also calls attention to the related case study in order to develop business in retail industry. The purpose of this paper is to examine the characteristics of the retail service sector in India and underlines its future prospects.

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