NAME - PRIYANK N SONI – 31 VIKAS PATIL - 07 NAMDEV PAWAR- 08 NEHAL MEHTA- 24

SUB - SERVICE SECTOR MANAGEMENT TOPIC - CURRENT STATUS AND FUTURE

PROSPECTUS OF SERVICE SECTOR IN INDIA

PROF DEEPAK SALVE

MUMBAI UNIVERSITY

INTRODUCTION- SERVICE “ Activity or benefit that one

party can offer to another that is essentially intangible and does not result in the ownership of anything. Its production may or may not be tied to a physical product. ”

CHARACTERSTICS OF SERVICES Intangibility- Cannot be touched, seen, tasted, heard, or

smelled before purchase. Lack of trial means higher consumer risk. Consumers rely on cues to draw quality inferences

Inseparability- Services are produced and consumed at the same time (air travel). Service providers and sometimes other customers become part of the service (restaurant)

Variability- Service providers vary with respect to attitudes, skills, mood, etc. Even the same provider may give different service on a different day

Perish ability- Services can not be inventoried or otherwise stored. Capacity / demand management is critical

Current status and future prospectus of service sector in India

In this topic we are looking into Current status and future prospect of service sector in India many service like :

1. Tourism

2. Healthcare

3. Banking

4. Insurance

5. Education

6. Entertainment

7. Transportation

8. Communication

Tourism:-

TOURISM :-

Medical Tourism

Eco Tourism

Heritage Tourism

Adventure Tourism

Future Prospect for Tourism in India

Health care service sector in India:-

Healthcare:- Medical care providers like physicians,

specialist, clinics, nursing home & hospitals. Diagnostic service centers & pathology

laboratories. Medical equipment & manufacturers Contract research organizations,

pharmaceutical manufacturers Third party support service provider(catering,

laundry)

Service in particular

2. Media & Entertainment Television Music Industry Journalism Advertising Public relation

205 223319 347

103 91

116117

104 109

155168

0

100

200

300

400

500

600

700

1999-00 2002-03 2005-06 2006-07

US

D B

illio

n

Services Agriculture Industry

The Indian economy has witnessed an unprecedented growth…. Booming Indian services and industry sector are providing the required impetus to the economic growth

The sound performance of each industry segment is leading to the overall robust performance of the Indian economy

Indian economy is the 4th largest in terms of PPP – USD 4.1 trillion in 2006

India’s GDP witnessed high growth and was the second fastest growing GDP after China

Growth in sectors (2006-07):Industry: 10.9%Services: 11%Agriculture: 2.7%

Growth in sectors (2006-07):Industry: 10.9%Services: 11%Agriculture: 2.7%

Fastest GDP growth of 9.4 percent in 2006-07, since last 18 years

Fastest GDP growth of 9.4 percent in 2006-07, since last 18 years

Contribution of Services -

increased from 49

percent to 55 percent

Contribution of Services -

increased from 49

percent to 55 percent

India's GDP: 2002-07

424484 534

590 631

0

100

200

300

400

500

600

700

2002-03 2003-04 2004-05 2005-06 2006-07

US

D B

illio

n

GDP at Constant Prices

4%

8.5% 7.5%

8.4%9.4%

Information technology We use the term information technology or IT to refer to an entire

industry. In actuality, information technology is the use of computers and software to manage information.

In some companies, this is referred to as Management Information Services (or MIS) or simply as Information Services (or IS). The information technology department of a large company would be responsible for storing information, protecting information, processing the information, transmitting the information as necessary, and later retrieving information as necessary.

E-commerce

Future trends

The Indian government believe the export turnover from it sector would be US $ 80 billion by 2011.

According to various studies despite the global meltdown the Indian IT industry expected to be the fastest growing in the Asia region with a CAGR of 18.6%.

According to “NASSCOM IT BPO” exports grew by 16% from US $ 40.9 billion in 2007-08 to US $47.3BILLIONIN 2008.09.

The Insurance Industry Oriented In The 1818 with the formation of life insurance corporation in Calcutta the idea behind starting LIC was to provide insurance coverage for English window and different premium was charged for English and for the Indians

INSURANCE

Insurance

Auto insurance ------

Home insurance Health Life Property -------

HEALTHCARE

Health is defined as a state of complete physical, Mental &social well being & just not the non existence of disease or aliment.

The Indian health sector consist Diagnostic service centers and pathology

laboratories. Medical equipment manufactures. Third party support service provider (catering,

laundry)