economics_for_manager, Role in market equilibrium.

May 20th, 2015
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NASSCOM (2005) says that, “The IT and BPO industries can become major growth engines for India, as oil is for Saudi Arabia and electronics and engineering are for Taiwan…. India’s IT and BPO industries could account for 10-12% of India’s GDP by 2015” India is fast dashing towards its dream of conversion into developed country by 2020.

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(68)Mehak sharma(76)Navneet sharma(87)Priyank goel(109)Service sectorInIndian EconomyIntroduction:NASSCOM (2005) says that, The IT and BPO industries canbecome major growth engines for India, as oil is for Saudi Arabiaand electronics and engineering are for Taiwan. Indias IT andBPO industries could account for 10-12% of Indias GDP by2015India is fast dashing towards its dream of conversion intodeveloped country by 2020.Many of the highly paid software wizards in the globe have theirorigins in India, and hence the emergence of service sector hastaken a steep positive slope in India.A well developed country needs a well established service sector.The remarkable performance of Indias economy is attributablein significant part to the spectacular dynamism shown by theservices sector.OBJECTIVE :Firstly, what are the constituents of service sector in India?Secondly, how this sector performed on growth andemployment fronts?Thirdly, what happened to service sector productivity in post1980 period?Fourthly, what are the policies adopted by the government ofIndia to promote the services sector?Fifthly, what are the problems or challenges ahead in thissector? Lastly, what are the prospects /potential for growth in thissector?Review of literature:Since 1960s, there has been a steady declinein the contribution of agriculture and primarysector to Gross Domestic Product (GDP),and its plac

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