Role of Service Industry in Economic Development of a Nation

C17B- SERVICE MARKETING * Explain the role of advantage industry in economic development of a nation Service firmament is the life line for the social economic festering of a country. It is today the largest and winged growing sector sphericly contributing more to the global output and employing more people than any other sector. The real(a) reason for the growth of the service sector is due to the subjoin in urbanization, privatization and more demand for intermediate and final consumer service. handiness of quality services is vital for the well being of the economy. In advanced economies the growth in the primary and secondary sectors be directly dependent on the growth of services bid banking, insurance, trade, commerce, entertainment etc. In alignment with the global trends, Indian service sector has witnessed a major boom and is wholeness of the major contributors to both employment and national income in recent times. The activities chthonian the purview of the service sector are quite diverse. Trading, tape drive 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 cognition based economy.

Today the IT industry and ITES industry are the governing industry in the service sector. Media and entertainment have similarly seen tremendous growth in the past few years. training 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 leverage the global markets, because of the huge pool of engineering talent getable 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, pitch it on our website: Ordercustompaper.com

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