Services sector is a key driver in India’s economic growth with significant contribution in Trade, GDP, Employment and Foreign Investments.
The services category is the highest recipient of FDI Inflows in India with share of over 60% in the total foreign investments into India. Services Sector (Banking, financial, consultancy services, etc.), Computer Software & Hardware, Telecommunications, Construction development, Trading, Hotel and Tourism, Information & Broadcasting, Hospital & Diagnostic Centres, Consultancy Services and Sea Transport are the top services sectors attracting highest FDI inflows.
Champion Services Sectors alludes to the 12 services sectors identified by the Department of Commerce to give focused attention promoting their development and realizing their potential. Under the scheme, concerned Line Ministries/Departments are directed to formulate cross-cutting action plans to promote their growth of champion services sectors of India. The Union Cabinet has approved creation of a dedicated fund of Rs.5000 crore to enable expedited approvals for funding, as required, of sectoral initiatives of the identified Champion Services sectors.