Globalization in India & Emergence of Service Sector

Authors

  • Hemlata Tiwari
  • Dr. Shambhu Nath Singh

Keywords:

Service Sector, Trade Liberalization, Globalization, Economic Reforms

Abstract

The trend of globalization touched to India relatively later than other countries of the world. It was appear in India around 1991. The process of globalization further delayed in our country due to democratic system of government. However this shield of close economy has broken by our Ex- Prime Minster, Mr. Narshima Rao. The Ex-Finance Minister Mr. Man Mohan Singh has taken a great measure. He introduced LPG (Liberalization, Privatization & Globalization) in our economy. In this way Indian economy has opened its boundaries for foreign trade & investment. India has three major sectors in its economy- Agriculture & allied, Industry and Services. Out of the above mention three sectors, service has its largest share in our GDP growth rate. Services sector includes trade, tourism, hotels & restaurants, Transport, storage, communication & services related to broadcasting, Financial, real estate & professional services.

References

Research Scholar, Institute of Economics & Finance, Bundelkhand University, Jhansi.

Assistant Professor, Institute of Economics & Finance, Bundelkhand University, Jhansi.

https://www.ibef.org/industry/services.aspx

https://www.ibef.org/industry/telecommunications.aspx

https://www.ibef.org/industry/information-technology-india.aspx

https://www.ibef.org/industry/financial-services-india.aspx

https://www.ibef.org/industry/financial-services-india.aspx

https://en.wikipedia.org/wiki/Economy_of_India. (Data has taken from World development indicator parameter).

"Sector-wise Contribution of GDP of India-Statistics.com". StatisticsTimes.com. Retrieved 11 August 2017.

"IMF World Economic Outlook Update, July 2017". WEO. Retrieved 2017-11-17

"Weekly Statistical Supplement - Ratio and Rates". Reserve Bank of India. Retrieved 6 August 2017.

https://en.wikipedia.org/wiki/Economy_of_India.

https://en.wikipedia.org/wiki/Economy_of_India.

Media India Group. 21 April 2017. Retrieved 14 October, 2017.

Aviation, Make in India.

Ghosh, Jayati (21July2005).. Macroscan. Economic Research Foundation. Archived from the original on 23 October 2005. Retrieved 11 January 2011.

India's outsourcing revenue to hit $50 bn". Financial Express.

IBEF, Insurance Sector in India April 2014 Industry Rep.

BP Statistical Review 2016". Retrieved 29 May 2016.

20Datt & Sundharam 2009, p. 104.

"India Transport Sector". World Bank.

Annual Report (2015-16), Ministry of Tourism, Government of India" (PDF). Ministry of Tourism (India). pp. 6, 7. Retrieved 14 October 2016.

Archived copy" (PDF). Archived from the original (PDF) on 30 November 2016. Retrieved 29 November 2016.

http://www.google.com.

http://www.indiainbusiness.nic.in/industry-infrastructure/service-sectors/media-entertainment.htm.

“India's FDI inflows at a record $60.1 billion in 2016-17”. HindustanTimes.com. 19 May 2017. Retrieved 2 November 2017.

FDI jumps 37% to $10.4 billion during April-June 2017. 21 August 2017. Retrieved 2 November 2017 – via The Economic Times.

Downloads

Published

30-12-2017

How to Cite

Hemlata Tiwari, & Dr. Shambhu Nath Singh. (2017). Globalization in India & Emergence of Service Sector. Research Inspiration: An International Multidisciplinary E-Journal, 3(I), 01–11. Retrieved from http://researchinspiration.com/index.php/ri/article/view/76

Issue

Section

Articles