The Telecommunication Sector
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Service Sector: Telecommunication
Introduction to Service Sector in India:
Service sector is the lifeline for the social economic growth of a country. It is today the largest and fastest growing sector globally contributing more to the global output and employing more people than any other sector. The real reason for the growth of the service sector is due to the increase in urbanization, privatization and more demand for intermediate and final consumer services. 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 like banking, insurance, trade, commerce, entertainment etc. India ranks fifteenth in the services output and it provides employment to around 23% of the total workforce in the country.
Indian Service Sector:
In alignment with the global trends, Indian service sector has witnessed a major boom and is one of the major contributors to both employment and national income in recent times. Diversified activities under the service sector: Trading, transportation and communication, financial, real estate and business services, community, social and personal services come within the gambit of the service industry. One of the key service industries in India would be health and education. They are vital for the country’s economic stability. A robust healthcare system helps to create a strong and diligent human capital, who in turn can contribute productively to the nation’s growth.
The Indian economy has moved from agriculture based economy to a knowledge based economy.
Today the IT industry and ITE'S industry are the dominant industry in the service sector.
Media and entertainment have also seen tremendous growth in the past few years.
Major Sectors in India:
1) Banking sector 2)...