Aviva Directory » Local & Global » Asia » India » Services & Industries

India has the sixth-largest, and the fastest growing economy in the world. Especially strong are its technology, business outsourcing, and service sectors. Additionally, its auto industry is one of the largest in the world.

Services and industries in India are the focus of sites listed in this category. Appropriate topics include advertising agencies in India, attorneys and legal services, financial and accounting services, telecommunications and utilities, computer services, automotive repair, agricultural concerns, event planning, funeral services, construction companies and other contractors, housecleaning businesses, publishing, printing, and photography services, manufacturing and other industries, as well as employment agencies.

With the collapse of the Soviet Union, India's chief trading partner, and the Gulf War, which caused a rise in oil prices, India's economy plunged in the early 1990s. It began a recovery in 2014, experienced a start-up boom in 2015, and followed that with an expansion of its manufacturing sector. Economists point to India as a rising economic superpower.

India's economy can be classified into three sectors: agriculture, industry, and services.

India's farm output is second in the world. Agriculture, forestry, and fishing account for just under 20% of its gross domestic product and employs nearly half of the country's workforce. As its manufacturing, technology, and service sectors have increased in recent years, its agricultural sector has declined but remains the largest source of employment.

India has the sixth-largest fishing industry in the world, and its cattle production is the second-largest. India also grows cotton, groundnuts, rice, sugarcane, and wheat, as well as fruits and vegetables.

Industry accounts for more than 25% of India's GDP and employs more than 20% of its workforce. Since the early 1990s, India has privatized some of its public-sector industries, made improvements to its infrastructure, and became more competitive on the worldwide stage.

Major contributors to its industrial sector are petroleum products, chemicals, and pharmaceuticals. Engineering and manufacturing are also major components of India's economy, including the production of transport equipment, machine tools, furnaces, automobiles, motorcycles, tractors, and auto parts.

Gems and jewelry are significant parts of India's economy as well. It has become a major center for polishing diamonds and gems, and for the manufacture of jewelry. Once a major source for diamonds, that industry has gone to South Africa and Australia, but India continues to be a hub for jewelry cutting, polishing, and finishing, mostly conducted through family-owned operations.

Lesser, but still important, segments of India's economy include textiles, mining, and steel production. The country's pulp and paper industry is also growing.

India's service sector has grown rapidly, employing nearly 30% of the country's workforce. Its service sector economy includes aviation and in particular the civil aviation market, as well as banking and other financial services, information technology, software, and computer technologies.

Although India is the third-largest consumer of energy in the world, after China and the United States, it produces a surplus of electricity.

India's infrastructure and transportation sectors account for about 5% of its GDP. This includes network of roads and its railway system. Indian Railways is the fourth-largest railroad network in the world. India's roads carry almost 90% of its passenger and 60% of its freight traffic.

India's retail industry is mostly dependent upon family owned operations, shops run by owners, and street vendors, but it accounts for 15-20% of the country's GDP. Tourism generates more than 6% of India's GDP, and both its domestic and foreign tourism industries have been growing. India also has a medical tourism market that is rising rapidly, offering low-cost health services for foreign patients. Other segments of its economy include construction, education, entertainment, logistics, printing, and telecommunications.

Categories

Computers

Employment

Financial

 

 

Recommended Resources


Search for Services & Industries on Google, Bing, or Yahoo!