India's Gdp Contribution to the Service Sector Till 2013

Contribution to the Service Sector

Trade, hotels and transport & communication

The estimated growth in GDP for the trade, hotels, transport and communication sectors during 2012-13 is placed at 5.2 per cent as against growth of 7.0 percent in the previous year. This is mainly on account of decline of 3.4 per cent and 4.8 per cent respectively in passengers and cargo handled in civil aviation and decline of 3.1 per cent in cargo handled at major sea ports during April-November, 2012-13. There has been an increase of 4.3 per cent in stock of telephone connections as on November 2012.

This growth in this sector is due to more Government spending on this sector. Another major factor is the wide expansion of tourism and also the cost of communication going down.

Financing, insurance, real estate and business services

The contribution of Financing, insurance, real estate and business services to the Service sector’s contribution in the Indian GDP is not as much as the contribution as the trade, hotels, transport and communication sectors to the same. The growth in Financing, insurance, real estate and business services is not as much high as the growth in the trade, hotels, transport and communication sectors.

Community, social & personal services

The contribution of Community, social and personal services to the Indian GDP is downward sloping; one of the main reason for this is the faster growth of the other sectors than this sector.

Contribution to the GDP by the three sectors

Source: CSO

Service Sector Indicators

Construction

Steel

Indian steel industry plays a significant role in the country's economic growth. India has acquired a central position on the global steel map with its giant steel mills, acquisition of global scale capacities by players, continuous modernisation and up-gradation of old plants, improving energy efficiency, and backward integration into global raw material sources.Currently, ranked...