India’s services sector can be broadly classified into two categories: contact-intensive and non-contact-intensive services.
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- Contact-intensive services: trade, hospitality, transport, real estate, social, community and personal services.
- Non-contact-intensive services: financial, information technology, professional, communication, broadcasting, storage services, public administration and defence services.
India’s services sector, contributing 55% to the economy in FY24, has grown through government initiatives like Digital India, export promotion, infrastructure development, and skill enhancement. These efforts boost digital services, logistics, tourism, and hospitality. Targeted healthcare and tourism initiatives ensure continued growth, highlighting challenges and opportunities ahead.
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