India, Jan. 29 -- The Government of India has issued a release:
India's Services sector has become the principal engine of economic growth, resilience, and structural transformation. Against a backdrop of global uncertainty and subdued global industrial activity, the sector has emerged as a stabilising force, contributing more than half of India's Gross Value Added (GVA) and serving as a major driver of exports and employment.
India is the world's seventh-largest exporter of services, with its share in global services trade more than doubling from 2% in 2005 to 4.3% in 2024. "The Services sector, acting as a high-growth, low-volatility anchor, marked 7-8% growth year after year, in sharp contrast to the more pronounced cyclical fluctuatio...