SERVICE MANAGEMENT

SERVICES REPORT- 2018

Brief report of my learning.

NAME: Radhika Singhania

REG. NO.: 1920343
DATE: 21/05/2020
HOURS: 2-4 pm
Services sector is the greatest one in India and contributes the greater part of Gross Value
Added (GVA). Services sector developed at a CAGR of 6.96 percent to Rs 94.80 lakh crore
(US$ 1,356.49 billion) in FY19 from Rs 59.18 lakh crore (US$ 846.84 billion) in FY12.
Development pace of money related, land and expert services was assessed at 12.71 percent
(in Rs terms) in FY19. Exchange, inns, transport, correspondence and services identified with
broadcasting are assessed to have recorded 11.63 percent development (in Rs terms) in FY19.

The sector additionally gives work to a huge portion of Indian population. Starting at 2018,
31.45 percent of India's utilized population was working in the services sector.

Additionally, services trades contain a significant piece of the all export fares of India. Net
export estimate from April 2019 to January 2020 in services is US$ 181.20 billion and import
is US$ 112.09 billion. India is positioned as the eighth biggest exporter of business services
universally in 2017.

In addition, Services sector is the biggest beneficiary of FDI in India with inflows of US$ 80.67
billion between April 2000 and December 2019.

Nikkei India Services Purchasing Managers' Index (PMI) remained at 57.5 in February 2020,
showing an extension. Sub-sectors that are performing admirably inside the services sector are:

• Flying – India's air traveler traffic multiplied to 308.75 million in FY19 seeing a
development of 12.64 percent year-on-year. Traveler and cargo traffic during April
2019-January 2020 arrived at 293.99 million and 2.84 million tons, individually.
• Data innovation business process the board (IT-BPM) – IT BPM industry incomes
became 8.38 percent year-on-year to Rs 12.65 lakh crore (US$ 181 billion) in FY19E
from US$ 167 billion in FY18.

The Government has embraced different strides towards boosting development of the services
sector. The legislature presented 'Services Exports from India Scheme' (SEIS) planned for
advancing fare of services from India by providing duty scrip credit for eligible exports. Under
this plan, an award of 3 to 5 percent of net foreign trade earned is given for Mode 1 and Mode
2 services. Further, in the mid-term survey of Foreign Trade Policy 2015-20, SEIS motivators
to informed services were expanded by 2 percent. Additionally, the Government of India has
distinguished 12 sectors under the Champion Services Sectors Initiative which is planned for
formulating cross-cutting activity that intends to promote their growth.