The services sector remains the key driver of growth for India's economy, contributing over half of India's gross value added. In 2017-18, the sector grew by an estimated 8.56% at constant prices. India has a large skilled workforce and is a global outsourcing hub, commanding a 55% share of the global sourcing market. The government's initiatives like Startup India and liberal FDI policies have made India an attractive investment destination for services. Major sub-sectors like IT/ITeS, tourism, aviation and telecom have shown strong growth in recent years.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
what is the best method to sell pi coins in 2024DOT TECH
The best way to sell your pi coins safely is trading with an exchange..but since pi is not launched in any exchange, and second option is through a VERIFIED pi merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and pioneers and resell them to Investors looking forward to hold massive amounts before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade pi coins with.
@Pi_vendor_247
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
2. Table of Content
Executive Summary……………….….…….3
Advantage India…………………..….……..4
Market Overview and Trends……….……..6
Strategies Adopted………….……..………15
Growth Drivers and Opportunities…..……17
Case Studies………...……………...……...26
Industry Associations……….......…………30
Useful Information……….......…………….32
3. For updated information, please visit www.ibef.orgServices3
The services sector of India remains the engine of growth for India’s economy and contributed 54.8 per cent
of India’s Gross Value Added in 2017-18.
At constant 2011-12 prices, the sector is estimated to have registered 8.56 per cent growth rate in 2017-18.
India had net service exports of US$ 67.5 billion in 2016-17. Net services exports during April-December
2017 reached US$ 57.60 billion.
India 30.6 per cent of its population employed in the services sector in 2016.
EXECUTIVE SUMMARY
Key Driver of Economic
Growth
A large pool of skilled IT manpower has made India into a global outsourcing hub. It now commands a 55 per
cent share in the global sourcing market.
India achieved the second highest growth rate in services exports in the world in 2016 at 3.6 per cent year-
on-year.
Global Technology Hub
The government’s move to launch ‘Startup India’ aims to create an inclusive ecosystem for entrepreneurs
and push for innovation. Services are a big part of this system. The technology infrastructure required for
such an ecosystem has increased the potential for the sector in India.
Low setup costs make this sector an attractive investment destination and the 60.7 per cent share in India’s
FDI inflows in 2016-17 is a sign of the same.
India also has reasonably well developed financial markets.
All these factors make Indian services sector an attractive ecosystem for both the entrepreneurs and the
investors.
Attractive Ecosystem
Source: Economic Survey of India, DIPP, MOSPI, RBI
Note: E - Estimate
5. For updated information, please visit www.ibef.orgServices5
ADVANTAGE INDIA
India is the export hub for software
services. It has a 55 per cent share in the
US$ 185-190 billion global sourcing
market in 2017.
India is also becoming a destination for
medical tourism as a result of cheaper but
quality healthcare services.
India has immense potential in tourism
services and earned US$ 27.7 billion from
tourism in 2017.
Services sector has received the most FDI
inflows between April 2000 and December
2017 reaching US$ 64.10 billion.
The sector received 60.7 per cent of the
total FDI inflows to India in 2016-17.
100 per cent FDI for any regulated
financial sector activity under the
automatic route.
An already established technology base
and infrastructure that will help in the
creation of an ecosystem for other
services.
Large pool of skilled manpower, especially
in the areas of IT & ITeS available at a
relatively low cost and and a rapidly
increasing youth population looking to
migrate from agriculture to other sectors.
Government of India is working to remove
many trade barriers to services and tabled a
draft legal text on Trade Facilitation in
Services to the WTO in 2017.
Government is promoting necessary
services and will charge zero tax for
education and health services under the
GST regime.
Skill India, a multi skill development
programme has been started to equip the
workforce with the necessary skills required
by the sector.
ADVANTAGE
INDIA
Source: Economic Survey of India 2016-17, DIPP, NASSCOM
Source: WTO- World Trade Organisation
7. For updated information, please visit www.ibef.orgServices7
SERVICES SECTOR CLASSIFICATION
Source: Indiabudget
Services sector
Road transport
Trade and repair
services
Hotels and
restaurants
Railways Air transport
Financial
services
Real estate,
ownership of
dwelling and
professional
services
Transport,
storage,
communication
and
services related
to broadcasting
Public
administration
and defence
and others
Trade, repair,
hotels and
restaurants
8. For updated information, please visit www.ibef.orgServices8
SHARE OF SERVICES SECTOR GROWS AT THE
FASTEST CAGR
846.84
847.76
870.26
976.49
1,007.43
1,088.61
1,266.10
49.0%
50.0%
50.6%
51.8%
52.5%
52.8%
54.0%
46.0%
47.0%
48.0%
49.0%
50.0%
51.0%
52.0%
53.0%
54.0%
55.0%
0
200
400
600
800
1,000
1,200
1,400
FY12
FY13
FY14
FY15
FY16
FY17
FY18E
Growth of India's Services Sector (GVA at basic price)
Services sector GVA as a percentage of total GVA
Source: Indiabudget, MOSPI (Second Advance Estimates of National Income 2017-18 and First Revised Estimates of National Income 2016-17)
Note: E – Estimate, CAGR - Compound Annual Growth Rate, Exchange Rate used is average for the year
India’s services sector GVA grew at a CAGR of 6.93 per cent to US$
1,266.1 billion in FY18E from US$ 846.8 billion in FY12.
In terms of overall GDP India ranks 5th in 2017 and in terms of
services GVA India ranked 13th as of 2015.
Growth rate of financial, real estate and professional services is
expected to reach 11.07 per cent in FY18. Trade, hotels, transport,
communication and services related to broadcasting are expected to
grow at 11.88 per cent in FY18.
Visakhapatnam port traffic (million tonnes)
Services Sector GVA at basic prices at current prices (in US$
million)
CAGR 6.93%
9. For updated information, please visit www.ibef.orgServices9
SERVICE SECTOR PMI
52.40
49.60
47.70
50.80
51.80
51.30
53.20
50.10
53.60
54.30
51.40
54.30
53.70
51.00
50.30
51.90
54.70
52.00
54.50
46.70
46.80
48.70
50.30
51.50
50.20
52.20
53.10
45.90
47.50
50.70
51.70
48.50
50.90
51.70
47.80
50.30
51.40
40
42
44
46
48
50
52
54
56
Apr-15
Jun-15
Aug-15
Oct-15
Dec-15
Feb-16
Apr-16
Jun-16
Aug-16
Oct-16
Dec-16
Feb-17
Apr-17
Jun-17
Aug-17
Oct-17
Dec-17
Feb-18
Apr-18
Source: Nikkei
Nikkei India Services PMI (Monthly)
The services sector is a key driver of India’s economic growth
The Nikkei India Services Purchasing Managers' Index (PMI) grew to 51.40 in April 2018 from 50.30 in March 2018.
10. For updated information, please visit www.ibef.orgServices10
TELECOM, IT-BPM SHOWCASE WORTHY
PERFORMANCE IN FY17
Performance of India's Services Sector FY18E (Share of total
Services sector GVA at current prices)
The segment Trade, repair, hotels and restaurants remains the
largest contributing subsector to services sector GVA.
Sub-sectors that are performing well in FY18 are:
• Aviation – India’s air passenger traffic doubled to nearly 117.18
million in 2017 from 59.87 million in 2011.
• Tourism – Foreign Exchange Earnings from tourism rose 20.8 per
cent year-on-year to US$ 27.7 billion in 2017.
• Information technology-business process management (IT-BPM)
– Software exports are expected to grow 7-8 per cent and the
domestic market is expected to expand by 10-11 per cent in
FY18.*
34.4%
38.8%
26.8%
Trade,hotels,transport,communication and services related to
broadcasting
Financial, real estate & professional services
Public Administration, defence and other services
Source: Indiabudget, Economic Survey 2017-18
Note: E- Estimate, *According to NASSCOM
11. For updated information, please visit www.ibef.orgServices11
India’s Services Trade
Source: RBI
Services exports are a key driver of India’s growth.
India’s services exports grew 17.03 per cent year-on-year to US$
143.263 billion during April-December 2017. Services imports rose
17.74 per cent year-on-year to 85.66 billion during the same period.
Travel services exports from the country grew 24.94 per cent to US$
20.65 billion during April-December 2017. Travel services imports
rose 15.62 per cent to US$ 14.80 billion during the period.
Exports arising from use of intellectual property grew 21.50 per cent
to US$ 520 million during April-December 2017.
Trade Performance of India’s Major Services (US$ million)*
57,703.55
27,409.64
20,645.16
12,752.90
3,477.78
1,868.10
1,497.73
484.81
3,794.34
27,223.25
14,798.51
12,666.22
4,365.47
1,329.63
691.14
488.80
0
10000
20000
30000
40000
50000
60000
70000
SoftwareServices
BusinessServices
Travel
Transportation
FinancialServices
Insurance
Communication
Services
G.n.i.e.
Service Exports Service Imports
Note: *During April-December 2017, G.n.i.e – Government not included elsewhere
12. For updated information, please visit www.ibef.orgServices12
HIGH FDI INFLOWS INTO THE SECTOR
8,684
3,652
1,966
2,338
916
5,564
1,517
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Services
Sector
Computer
Software&
Hardware
Construction
Trading
Hotels&
Tourism
Telecommunic
ations
Information&
Broadcasting
Source: Economic Survey 2016- 17
The share of the services sector is 60.7 per cent of the FDI equity
inflows during 2016-17
In 2016-17, growth rate of FDI inflows reduced to 8.7 per cent (US$
43.5 billion) due to negative growth in trading, computer hardware
and software, construction and hotels and tourism
To ensure that India remains an attractive investment, the
Government has brought about a number of reforms such as the
abolition of the Foreign Investment Promotion Board (FIPB) and the
introduction of composite caps in the FDI policy which permits 100
per cent FDI under automatic route for any financial sector activity
which is regulated by any financial sector regulator
Visakhapatnam port traffic (million tonnes)
FDI Equity Inflows to the Services Sector in 2016-17
(US$ million)
13. For updated information, please visit www.ibef.orgServices13
PERFORMANCE OF INDIA’S SERVICES SECTOR:
SOME INDICATORS
Source: AAI, TRAI, Economic Survey 2017-18
Sector Indicators Unit
Period
2009-10 2013-14 2014-15 2015-16 2016-17 2017-18
IT- BPM
IT- BPM service revenues US$ billion 64 106 119 143 154 167
Exports US$ billion 50 87 98 108 116 126
Domestic US$ billion 14 19 21 35 38 41
Aviation
Airline Passengers (Total) Million 77.4 103.8 115.8 135.0 158.4 308.75
Domestic Million 45.3 60.7 70.1 85.2 103.7 243.28
International Million 32.1 43.1 45.7 49.8 54.7 65.48
Telecom
Telecom Connections
(wireline and wireless)
Million 621.3 933.0 996.1 1,058.9 1,194.6 1,206.22
Tourism
Foreign Tourist Arrivals Million 5.2 7.0 7.7 8.0 8.8 10.46
Foreign Exchange earnings from
tourism
US$ billion 11.1 18.4 20.2 21.1 22.9 28.78
Shipping
Gross tonnage of Indian shipping Million GT 9.7 10.5 10.5 10.5 12.0 12.7#
No. of ships Numbers 998 1209 1210 1251 1338 1374#
Ports Port Traffic
Million
tonnes
850.0 972.5 1,052.5 1,072.5 1,135.6 574.7$
Note: ^Data for CY 2017, #Data for April-December 2017, $Data for April-September 2017
14. For updated information, please visit www.ibef.orgServices14
Banking and Financial
Services
Tourism and
Hospitality Services
Telecommunication
Services
Healthcare Services
IT and ITeS Services
Aviation Services
KEY PLAYERS
Source: Company websites, Aranca Research
16. For updated information, please visit www.ibef.orgServices16
Players are trying to ensure convenience for their customers by providing all services available on a single
portal. For example, makemytrip.com and a host of other websites provide a comprehensive basket of
offerings which include outbound and inbound travel for leisure and business trips, hotels and car booking,
holiday packages within India or abroad, etc
Players are opting for many channels to maximise sales and ensure convenience for their customers. For
example, Thomas Cook and Kuoni India launched their online portals to compete with others. On the other
hand, makemytrip.com is planning to go for the offline channel to complement its existing portal and has
already launched mobile apps for maximising sales.
Indian LCC’S are looking forward to increase their ancillary services, without tampering their business
models. This includes services like lounge access, priority boarding, customer loyalty memberships and
customer meals
In May 2017, financial services company JM Financial Ltd. voiced plans to extend its real estate lending
business and set up an affordable housing finance unit - JM Financial Home Loans Ltd. The company is
expected to secure the licence for the new unit from National Housing Bank (NHB) in a period of six months.
In April 2017, IFFCO has invested 26 per cent stake in a start-up firm Gramin Health Care (GHC), an
affordable and easily accessible service for farmers to educate them about basic health
General Atlantic Partners and TPG voiced intentions to bid jointly for acquiring the healthcare assets of Fortis
for US$ 1.80 billion
As the Indian education industry opens up to new innovative ways of learning, Educomp has decided to
explore this opportunity by offering its various online and supplemental solutions to help institutions to
leverage the most of technology
STRATEGIES ADOPTED
Banking and Financial
Services
Healthcare Services
Education and Training
Services
Source: Company websites, Media sources, Aranca Research
Tourism and Hospitality
Services
18. For updated information, please visit www.ibef.orgServices18
INDIAN BANKING SECTOR DRIVING GROWTH IN THE
SERVICES SECTOR
474.18
575.72
801.79
853.35
970.46
1,189.50
1,317.01
1,298.35
1,331.82
1,456.11
1,475.71
1,602.54
1,707.64
-
200.00
400.00
600.00
800.00
1,000.00
1,200.00
1,400.00
1,600.00
1,800.00
FY06
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
FY17
FY18
Source: Reserve Bank of India (RBI), Aranca Research;
Note: CAGR - Compounded Annual Growth Rate, 1FY 18 – as of third quarter, 2CAGR is up to FY17, Exchange Rate used is average for the year
During FY06–17, deposits grew at a CAGR of 11.71 per cent from
US$ 325 billion in FY06 to US$ 1,669 billion in FY17. As of the third
quarter of FY18, deposits have reached US$ 1,716 billion.
Strong growth in savings amid rising disposable income levels are
the major factors influencing deposit growth.
Access to banking system has also improved over the years due to
persistent government efforts to promote banking-technology and
promote expansion in unbanked and non-metropolitan regions.
At the same time India’s banking sector has remained stable despite
global upheavals, thereby retaining public confidence over the years.
Deposits under Pradhan Mantri Jan Dhan Yojana (PMJDY), have
also increased. As of May 23, 2018, Rs 81,108.57 crore (US$ 12.58
billion) were deposited, while 316.7 million accounts were opened.
Visakhapatnam port traffic (million tonnes)Growth in deposits over the past few years (US$ billion)*
2CAGR 11.71%
1
19. For updated information, please visit www.ibef.orgServices19
AVIATION DRIVING GROWTH IN SERVICES WITH
INCREASING PASSENGER AND FREIGHT TRAFFIC
73.35
96.49
116.87
108.88
123.76
143.43
162.31
159.40
169.03
190.10
223.96
264.97
308.75
0
50
100
150
200
250
300
350
FY06FY07FY08FY09FY10FY11FY12FY13FY14FY15FY16FY17FY18
Source: Association of Private Airport Operator, Airports Authority of India
Witnessing a growth of 12.72 per cent over the previous year, total
passenger traffic stood at a 308.75 million in FY18, which was
recorded at 264.97 million in FY16 in India.
Growth in passenger traffic has been strong since the new
millennium, especially with rising incomes and low-cost aviation.
Freight traffic on airports in India is expected to cross 11.4 million
tonnes by 2032.
Growth in import and export in India will be the key driver for growth
in freight traffic as 30 per cent of total trade is undertaken via
airways.
Airports across the globe are planning on increasing their spending
on new technology to keep up with surging passenger traffic, which
is expected to double to 370 million by 2020. The anticipated double
digit growth would make India as the world’s 3rd largest aviation
market by 2020.
Fliers would soon be able to use biometric details for security checks
at airports after good feedback from a pilot project.
Visakhapatnam port traffic (million tonnes)
Notes: CAGR – Compound Annual Growth Rate, FY – Indian Financial Year (April – March)
1.40
1.55
1.72
1.70
1.96
2.35
2.28
2.19
2.28
2.53
2.70
2.68
3.36
0
1
1
2
2
3
3
4
4
FY06FY07FY08FY09FY10FY11FY12FY13FY14FY15FY16FY17FY18
Passenger traffic in in India (million)
Freight traffic in India (million tonnes)
20. For updated information, please visit www.ibef.orgServices20
INCREASING EXPENDITURE ON TRAVEL AND
TOURISM IS A MAJOR DRIVER FOR THE SECTOR
22.1
24.4
18.8
22.3
25.5
26.4
20.8
17.8
19.1
19.1
10.3
12.4
42.1
46.2
48.7
60.9
69.3
68.7
77.9
90.2
96.0
96.2
181.7
216.9
0.0
50.0
100.0
150.0
200.0
250.0
Business Travel and Tourism Spending (in US$ bn)
Leisure Travel & Tourism Spending (in US$ bn)
Source: World Travel and Tourism Council, Make in India, Global Business Travel Association
The travel and tourism sector forms a major part of the services
industry; thereby increasing expenditure for obtaining this service is
expected to drive growth in the overall services sector.
The share of travel and tourism in India’s GDP was 9.4 per cent in
2017 and is expected to grow to 9.9 per cent in 2028.
Emergence of business hubs like Mumbai (Finance), Bengaluru (IT),
Chennai (IT), Delhi (Manufacturing, IT) is likely to boost business
travel as well.
Leisure travel spending grew to US$ 181.65 billion in 2017 from US$
96.20 billion in 2016.
Leisure and business travel and tourism spending are expected to
increase to Rs 14,127.1 billion (US$ 216.9 billion) and Rs 806.4
billion (US$ 12.4 billion) in 2018, respectively.
Visakhapatnam port traffic (million tonnes)Travel and tourism spending (US$ billion)
Notes: IT – Information Technology, E – Estimated
21. For updated information, please visit www.ibef.orgServices21
STRONG GROWTH IN HEALTHCARE SERVICE
SECTOR
Source: Frost and Sullivan, LSI Financial Services, Deloitte, Aranca Research
45
51.7
59.5
68.4
72.8
81.3
104.0
110.0
160.0
280.0
0
50
100
150
200
250
300
2008 2009 2010 2011 2012 2014 2015 2016 2017F2020F
Healthcare has become one of India's largest sectors both in terms
of revenue and employment. The industry is growing at a
tremendous pace owing to its strengthening coverage, services and
increasing expenditure by public as well private players
During 2008-20, the market is expected to record a CAGR of 16.5
per cent
The total industry size is expected to touch US$ 160 billion by 2017
and US$ 280 billion by 2020
The Ministry of Health is focusing on development of technologies for
the treatment of diseases like Cancer and TB.
Government is emphasising on the eHealth initiatives such as
Mother and Child Tracking System (MCTS) and Facilitation Centre
(MCTFC)
Indian companies are entering into merger and acquisitions with
domestic and foreign companies to drive growth and gain new
markets.
Visakhapatnam port traffic (million tonnes)Healthcare Sector Growth Trend (US$ Billion)
CAGR: 16.5%
Note: F - Forecast
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EXPANDING TELECOM SUBSCRIBER BASE
205.86
300.49
429.72
621.28
846.32
951.34
898.02
846.32
996
1058.86
1194.58
1206.22
18.3
26.2
37
52.7
70.9
78.7
74.02
77.5879.38
83.36
92.98
92.84
0
10
20
30
40
50
60
70
80
90
100
0
200
400
600
800
1,000
1,200
1,400
FY07
FY08
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
FY17
FY18
Telephone Subscribers (in million) Teledensity (in percentage)
Source: Telecom Regulatory Authority of India, Aranca Research
Note: CAGR - Compound Annual Growth Rate
India is currently the second largest telecommunication market and
has the 3rd highest number of internet users in the world
India’s telephone subscriber base expanded at a CAGR of 17.44 per
cent during FY07-18, reaching 1,206.22 million in FY18. The figure
stood at 1,179.83 million in February 2018.
Tele-density (defined as the number of telephone connections for
every 100 individuals) in India, increased from 17.9 in FY07 to 92.84
in FY18.
Visakhapatnam port traffic (million tonnes)Growth in total subscribers
23. For updated information, please visit www.ibef.orgServices23
GROWING IT and IT-ENABLED SERVICES SECTOR
Source: NASSCOM, Aranca Research
24
29 32 32 32 34 35 38 41
50
59
69
76
86
98.5
108
116
126
0
20
40
60
80
100
120
140
160
180
FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18E
Domestic Export
IT and ITeS sector is the major driver of India’s service sector.
IT BPM industry revenues increased to US$ 154 billion in FY17 from
US$ 143 billion in FY16. IT-BPM revenue in FY18 is estimated to be
US$ 167 billion.
The contribution of the IT sector to India’s GDP stood at 7.7 per cent
in 2016.
TCS is the market leader, accounting for about 10.4 per cent of
India’s total IT & ITeS sector revenue in FY16
The top 5 IT firms contribute over 25 per cent to the total industry
revenue INR 8.4 lakh crore (US$ 131.11 billion) as of 2017,
indicating the market is fairly competitive.
The domestic revenue of the IT industry is estimated at US$ 38
billion and export revenue is estimated at US$ 117 billion in FY 17.
Visakhapatnam port traffic (million tonnes)Market size of IT industry in India (US$ billion)
Note: E – estimate, IT – Information Technology, E - Estimate
24. For updated information, please visit www.ibef.orgServices24
GOVERNMENT POLICIES AND INITIATIVES
SEIS is aimed at promoting export of services from India by providing duty scrip credit for eligible exports.
Under this scheme, a reward of 3 to 5 per cent of net foreign exchange earned is given for Mode 1 and Mode
2 services.
In the Mid term review of FTP* 2015-20, SEIS incentives to notified services were increased by 2 per
cent.
Services Exports from
India Scheme (SEIS)
Source : Economic Survey 2017, Media sources
Formulation of National Tourism Policy 2015 that would encourage the citizens of India to explore their own
country as well as position the country as a ‘Must See’ destination for global travellers
Under Union Budget 2017, US$ 14.87 million was allocated for promotion and publicity of various
programmes and schemes of the Tourism Ministry.
National Tourism Policy
2015
The new 2016 National Education Policy (NEP) considers education as an utmost important parameter in the
country. The 2016 NEP majorly focuses on quality of education as well as innovation and research in the
sector.
National Education
Policy, 2016
The Union Cabinet, Government of India, has approved the National Health Policy 2017, which will provide
the policy framework for achieving universal health coverage and delivering quality health care services to all
at an affordable cost.
National Health Policy
2017
Aims at a ‘One Nation-One license’ regime with no roaming charges and nation wide number portability
‘Broadband for all’ with a minimum download speed of 2Mbps
Liberalisation of spectrum and convergence of network, services and devices
Unified licensing, delinking of spectrum from license, online real-time submission and processing
National Telecom Policy
2012
Note : FTP* - Foreign Trade Policy
25. For updated information, please visit www.ibef.orgServices25
GOVERNMENT POLICIES AND INITIATIVES
100 per cent FDI is allowed under automatic route in scheduled air transport service, regional air transport
service and domestic scheduled passenger airline. FDI over 49 per cent would require government approval.
Approval of 49 per cent FDI in aviation for foreign carriers.
100 per cent FDI is allowed under the automatic route in tourism and hospitality, subject to applicable
regulations and laws.
The Government of India allowed 100 per cent FDI in the education sector through the automatic route since
2002.
For the healthcare sector, 100 per cent FDI is allowed under the automatic route for greenfield projects and for
brownfield project investments, up to 100 per cent FDI is permitted under the government route.
FDI cap in the telecom sector has been increased to 100 per cent from 74 per cent; out of 100 per cent, 49 per
cent will be done through automatic route and the rest will be done through the FIPB approval route.
Government has allowed 100 per cent FDI in the railway sector for approved list of projects.
FDI limit for insurance companies has been raised from 26 per cent to 49 per cent.
FDI Policy
Source : Economic Survey 2017, Media sources
The GST rates are nil for education and healthcare services; 5 per cent for air transport of passengers in
economy class, transport of goods by rail and vessel, supply of tour operator services (without ITC); 12 per cent
for food and drinks at restaurants without air conditioner, heating system or license to serve liquor, while it is 18
per cent for those having them; 12 per cent for accommodation in hotels, inns, etc for rooms with tariff between
INR 1000-2500, while it is 18 per cent for those between INR 2500-7500; 12 per cent for air transport of
passengers in other thane economy class; 28 per cent for entertainment events, cinematograph films, theme
parks, water parks, etc, hotels and inns with room tariff above INR 7,500.
Goods and Services
Tax (GST)
27. For updated information, please visit www.ibef.orgServices27
HDFC BANK
486.60
621.80
860.70
1,102.20
1,238.50
1,406.50
1,775.10
1,878.40
2,255.25
2,769.08
-
500.0
1,000.0
1,500.0
2,000.0
2,500.0
3,000.0
FY09
FY10
FY11
FY12
FY13
FY14
FY15
FY16
FY17
FY18
HDFC Bank
• Established in 1994, HDFC Bank is the 2nd largest private sector
bank in India. HDFC was amongst the 1st to receive an 'in
principle' approval from the RBI to set up a bank in the private
sector
• Divisions – Retail banking, Wholesale banking and Treasury
operations
• Size – Number of branches and extensions (FY17): 4,715
• Number of ATMs: (FY18) 12,635
• Number of Employees (FY17): 84,325
• Total Assets (FY17): US$ 133.89. billion
Recognition:
• In 2017, HDFC bank received ‘India’s Best Bank’ award by
Euromoney Awards for Excellence 2017.
• In 2017, HDFC bank was awarded the ‘Best Domestic Bank in
India’ award by Asiamoney India Banking Awards 2017.
• In 2016, HDFC bank was awarded “ India’s Most Valuable Brand”
for the third consecutive year.
• In 2016, HDFC received “Bank of the Year” award by Outlook
Money.
Visakhapatnam port traffic (million tonnes)Net profit US$ (millions)
CAGR 21.31%
Source: Annual report, company website
28. For updated information, please visit www.ibef.orgServices28
PRIVATE SECTOR PIONEERS: IHCL
459.90
550.94
595.46
647.47
672.90
738.67
638.06
0.00
100.00
200.00
300.00
400.00
500.00
600.00
700.00
800.00
FY11 FY12 FY13 FY14 FY15 FY16 FY17
Source: IHCL’s website
The company was incorporated in 1902 and launched the first hotel
in India, The Taj Mahal Palace and Tower, in Mumbai in 1903
Taj Hotels Resorts and Palaces has 66 hotels in 42 locations across
India and 16 hotels worldwide
IHCL operates in the luxury, premium, mid-market and value market
segments through various brands such as Taj, Taj Exotica, Taj
Safari, Vivanta, Gateway Hotel and Ginger
IHCL operates Taj Air, a luxury private jet service
The company operates Taj Sats Air Catering Ltd, the largest airline
catering service in South Asia
IHCL’s revenues stood at US$ 638.06 million in FY17.
Visakhapatnam port traffic (million tonnes)Revenues (US$ million)
29. For updated information, please visit www.ibef.orgServices29
TCS: AN EMERGING GLOBAL IT MAMMOTH
Achievements:
2017: Pega 2017 wins Partner Excellence Award
2016: Won 3 Silver Stevies at 14th Annual American Business
Awards
2015: Gold, Silver and Bronze Stevie® Winner at the American
Business Awards
2014: Gold and Silver Stevie® Winner at the American Business
Awards
2013: Won Best Performing Consultancy Brand Award in Europe
2013: Received Red Hat North America Awards for System
Integrator Partner of the Year
39.3%
17.2%
17.1%
10.9%
15.5%
Banking, Financial Services
and Insurance
Communication, Media and
Technology
Retail and Consumer
Manufacturing
Others
Revenue by industry practice (FY18)
Financial performance (US$ Billion)
6.0
6.3
8.2
10.0
12.0
13.0
15.0
16.6
18.3
19.1
1.4
1.7
2.3
2.8
3.1
3.9
4.1
4.4
4.72
4.73
0.0
5.0
10.0
15.0
20.0
25.0
FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18
Revenue Operating Profit
Source: TCS Website, Annual Report
Established in 1968, Tata Consultancy Services (TCS) is an
Information Technology (IT) services, consulting and business
solution company. The company provides end-to-end technology and
technology-related services to global enterprises. The company’s
business is spread across the Americas, Europe, Asia-Pacific and
Middle East and Africa (MEA).
TCS accounts for nearly half of the Indian IT industry’s combined
market capitalisation
Revenue of the company has increased from US$ 6 billion in FY09 to
US$ 19.1 billion in FY18.
31. For updated information, please visit www.ibef.orgServices31
KEY INDUSTRY ASSOCIATIONS
Indian Banks' Association
Address: Aurobindo Marg, Opp. Safdarjung Airport,
New Delhi –110 003
Phone: 91 11 24622495
Fax: 91 11 24629221
E-mail: dri@dgca.nic.in, dfa@dgca.nic.in
World Trade Centre, 6th Floor
Centre 1 Building,
World Trade Centre Complex,
Cuff Parade, Mumbai - 400 005, India
E-mail: webmaster@iba.org.in
Directorate General of Civil Aviation (DGCA)
Hotel Association of India (HAI)
Address: B-601, Gauri Sadan 5, Hailey Road, New Delhi – 110 001,
India
Tel: 91 11 23358585
Fax: 91 11 23327397
Website: http://www.auspi.in/
Address: B 212–214
Som Dutt Chamber-I,
Bhikaji Cama Place,
New Delhi – 110 066
Phone: 91-11-2617 1110/14
Fax: 91-11-2617 1115
Association of Unified Telecom Service Providers of India
(AUSPI)
National Association of Software and Services Companies
(NASSCOM)
Address: International Youth Centre Teen Murti Marg, Chanakyapuri,
New Delhi – 110 021
Phone: 91 11 2301 0199
Fax: 91 11 2301 5452
E-mail: info@nasscom.in.
Services Export Promotion Council (SEPC)
Address: 3rd Floor, 6A/6, NCHF Building, Siri Fort Institutional Area,
August Kranti Marg
New Delhi-110049
Phone: +91 11-41046327-28-29, +91 11-41734632
E-mail: services.epc@gmail.com
Website: www.servicesepc.org
33. For updated information, please visit www.ibef.orgServices33
GLOSSARY
CAGR: Compound Annual Growth Rate
FDI: Foreign Direct Investment
FY: Indian Financial Year (April to March)
GOI: Government of India
INR: Indian Rupee
US$: US Dollar
Wherever applicable, numbers have been rounded off to the nearest whole number
34. For updated information, please visit www.ibef.orgServices34
EXCHANGE RATES
Exchange Rates (Fiscal Year) Exchange Rates (Calendar Year)
Year INR INR Equivalent of one US$
2004–05 44.95
2005–06 44.28
2006–07 45.29
2007–08 40.24
2008–09 45.91
2009–10 47.42
2010–11 45.58
2011–12 47.95
2012–13 54.45
2013–14 60.50
2014-15 61.15
2015-16 65.46
2016-17 67.09
2017-18 64.45
Year INR Equivalent of one US$
2005 44.11
2006 45.33
2007 41.29
2008 43.42
2009 48.35
2010 45.74
2011 46.67
2012 53.49
2013 58.63
2014 61.03
2015 64.15
2016 67.21
2017 65.12
Source: Reserve Bank of India, Average for the year
35. For updated information, please visit www.ibef.orgServices35
DISCLAIMER
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information is accurate to the best of Aranca and IBEF’s knowledge and belief, the content is not to be construed in any manner whatsoever as a
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