Service Sectors plays an important role in the economic development of our country. It includes trade, hotels and restaurants, storage and communication, real estate, banking and insurance, public administration and defense, etc. In India this sector contributes a significant percentage in the national income and it also has good employment potential. This sector is also known as tertiary sector.



The Information Technology, Communication, and Entertainment Sector have emerged as a significant area in the tertiary sector. Employment growth within this sector is the highest in case of trade, construction, financial services, transport and communication. The General Agreement on Trade in Services is the first multilateral agreement on trade in services and its objective is to liberalize trade in all services.

Besides software and Business Process Outsourcing, in which India has already made an impact in the world market, there are other areas with good potentials, which include hospitals, mapping, accounting and auditing, printing and publishing, satellites and even super specialties. This Sector has provided support in the form of Information Technology, financial services, software, transport and logistics and consultancy to both primary and secondary sectors. Considering the growth rate and prospects of the tertiary sector, it can be easily understand that this sector may gain more importance in future.