The contribution of services sector to the Indian economy is well-recognized. With a significant share of over 50% in gross domestic product (GDP) (Economic Survey, 2021-22, Ministry of Finance), and accounting for 36% of total exports (UNCTAD (United Nations Conference on Trade and Development), 2017), and 40% in 2021-22 (The Economic Times, March21, 2022), the sector has demonstrated robustness and potential over the past 15 years.
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