Role of Service Industry in Economic Development of a Nation

C17B- SERVICE MARKETING * Explain the role of dish industry in economic development of a nation Service celestial sphere is the lifeline for the social economic ripening of a country. It is today the largest and windy growing sector world(prenominal)ly contributing more to the ball-shaped output and employing more people than any other sector. The true(a) reason for the growth of the service sector is due to the enlarge in urbanization, privatization and more demand for intermediate and final consumer operate. availability of quality services is vital for the well being of the economy. In advanced economies the growth in the primary and secondary sectors are directly dependent on the growth of services manage banking, insurance, trade, commerce, entertainment etc. In alignment with the global trends, Indian service sector has witnessed a study boom and is peerless of the major contributors to both employment and national income in recent times. The activities beneath the purview of the service sector are quite diverse. Trading, transport and communication, financial, real estate and business services, community, social and personal services come within the gambit of the service industry. The Indian economy has moved from agriculture based economy to a fellowship based economy.

Today the IT industry and ITES industry are the dominating industry in the service sector. Media and entertainment have to a fault seen tremendous growth in the past few years. nurture Technology Industry The Information Technology industry has achieved phenomenal growth after liberalization. The industry has performed exceedingly well amidst tough global competition. Being knowledge based industry; India has been able to supplement the global markets, because of the huge pool of engineering talent forthcoming and the proficiency in English language among the middle class. ITES sector The ITES sector has also leveraged the global changes positively to emerge as one of the prominent industries. Some... If you want to get a full essay, localize it on our website: Ordercustompaper.com

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