SERVICE SECTOR IN INDIA

According an Economic Survey which was tabled in the parliament in 2012 the sector has seen a phenomenal rise in the global market. India's service sector grew in the world with a compound annual growth rate (CAGR) at 9 percent which was just next to China's 10.9 per cent, during 2001 to 2012. India ranked 10th in terms of overall GDP among the world's top 15 countries in terms of GDP, and 12th in terms of services GDP in 2012. According to the survey the services share in world GDP was 65.9 percent but comparatively its share in employment was less to that of only 44 per cent in 2012.