Growing prospective of services industry in and round India

The service sector is evolving. Services sector has been particularly important for India. This paper focuses on the major growing prospective for India's services sector. In the beginning, the paper dwells briefly on the importance of services for India in terms of GDP growth. The paper then directly examines the current scenario of services market. Domestic policy issues cover many areas like FDI. FDI related policy measures include putting the FDI policy on the website in a user friendly way and opening atleast some segments of insurance sector like health Market access issues include domestic regulations, subsidies and other barriers in India's major markets which deny market access for India's services exports. By evaluating the performance of services sector we can identify its importance and the major issues in services sector. In the Executive Summary and Conclusion the important reforms which need to be initiated and implemented in the short run are listed. The paper concludes that immediate and time-bound reforms in the services sector could not only help in attaining India's targeted GDP growth rates, but also give a fillip to growth and exports of this services-led-economy.