ICSI as a body brings together policy makers, Industry and Human resource on a common platform to deliberate issues and execute plans for the continuos growth of Service Industry. It aims at Business facilitation, Infrastructural development and Capacity building.

2.  The service industry forms the backbone of social and
economic development of a country. It has emerged as
the largest and fastest-growing sectors in the world
economy.
 The service sector has shown a growth rate higher than
that of agriculture and manufacturing sectors. This
sector covers a wide range of activities, such as trading,
transportation, communication, financial, real estate
and business services.

3.  In India, the services sector, as a whole, contributed
about 65 per cent of the country’s gross domestic
product (GDP), 35 per cent of employment, a quarter
of the total trade, and over half of the foreign
investment inflows.

4.  The most important services in the Indian economy
have been in the health and education sectors. These
are one of the largest and most challenging sectors and
hold a key to the country’s overall progress.
 A strong and well-defined health care sector helps to
build a healthy and productive workforce.

5.  The era of economic liberalization has ushered in a
rapid change in the service industry. As a result, over
the years, India has been witnessing a transition from
agriculture-based economy to a knowledge based
economy. The knowledge economy creates,
disseminates, and uses knowledge to enhance its
growth and development.
 One of the major functional pillars of this economy is
Information Technology (IT) and IT-enabled services
industry. IT continues to be a dominating sector in the
overall growth of the Indian industry.

6.  Another major and upcoming sector is retail. It has
been one of the fastest growing sectors both in terms
of turnover and employment.

8.  Follow us on:
 www.icsiindia.in