• ISSN: 2010-023X (Print)
    • Abbreviated Title: Int. J. Trade, Economics and Financ.
    • Frequency: Quaterly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Managing Editor: Ms. Shira. W. Lu
    • Abstracting/ Indexing:  Crossref, Electronic Journals Library , EBSCO
    • E-mail: ijtef.editorial.office@gmail.com
HOME > Archive > 2012 > Volume 3 Number 4 (Aug. 2012) >
IJTEF 2012 Vol.3(4): 316-322 ISSN: 2010-023X
DOI: 10.7763/IJTEF.2012.V3.219

Is the Service-Led Growth of India Sustainable?

Bharti Singh

Abstract—Till the decade of 1990s many studies raised doubts about the sustainability of service-led growth in India. Most often it was stated that growth in manufacturing is required to give a boost to services, employment growth, income generation, and trade balance. It is now increasingly being realized that the resilience of the Indian economy is due to the resilience of the services sector. Numerous studies since 2000s have shown that services induced growth of GDP of India is feasible. The service-led growth model is sustainable not only from the economic perspective but from social and environmental perspectives as well. To realize the maximum potential from high growth of services India should make investment in education, entrepreneurship, technology, modern means of communication and transportation, and social development. Policy reforms should be initiated to liberalise the service sub-sectors like trade (retail and wholesale), financial services, and software services that will help in faster growth through attraction of FDI. So also, labour reforms are desirable to take advantage of the demographic dividend.

Index Terms—Foreign Direct Investment (FDI), India, service sector, service sub-sectors, sustainable growth.

Bharti Singh is with Institute of Management Technology - CDL, Ghaziabad, India (email: bhartisingh@imtcdl.ac.in; bharti0311@yahoo.com).

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Cite:Bharti Singh, "Is the Service-Led Growth of India Sustainable?," International Journal of Trade, Economics and Finance vol.3, no.4, pp. 316-322, 2012.

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