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16 service sectors clock 20% growth in 2004-05
By agencies
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Thursday, 11 August 2005, 19:30 IST
NEW DELHI: Sixteen service sectors in the country achieved growth of more than 20 percent in 2004-05 compared to 2003-04, according to an analysis of 42 service sectors carried out by the FICCI. Another 18 sectors clocked 10-20 percent growth during the same period.
Based on the feedback received from representatives of various service-related industry associations and private and public sector companies, the analysis found that the sectors that recorded more than 20 percent growth in 2004-05 included organized retail trade (30 percent), road transport service (20 percent), domestic air passenger traffic (24 percent), total air cargo handled (20 percent), mobile subscriber (55 percent), Internet subscriber (22 percent), and live entertainment (40 percent).
The sectors that have achieved 10-20 percent growth included international air passenger traffic (17.1 percent), international air cargo (19 percent), courier services (15 percent), car finance (16 percent), and film industry (17 percent).
The analysis also found that a majority of the services - including sophisticated trade, finance and exim-related services, manufacturing industry-led services, contractual, maintenance and repairing services - belong to the unorganized and informal sector.
This sector accounts for more than 75 percent of the services generated in the economy.