Comparison Between India and China on Service Sector

The new service economy has positive and negative aspects. The United States labor was once based on agriculture, then manufacturing and has now turned into an economy based on services (Hodson & Sullivan, 2008). Over the years, Americans have gained more capital and with that capital services such as education, health and entertainment have increased. (Worldbank, n.d.) Because service jobs are not based on the use of machines like manufacturing, jobs are continuing to grow in the

India is one country which is developing rapidly at the moment along with China (Lal and Clement, 2005). The political, economic, social, cultural, technological and legal climate in India is extremely suitable for international entrepreneurs since business prospects in a country are heavily dependent on the above mentioned parameters. Since India is the second most heavily populated country in the world, British telecommunication company, Vodafone has enormous business opportunities in India. Mobile phone usage in India is increasing rapidly in recent times (Press Information Bureau: Government of India, 2010). A substantial portion of Indian

This is the largest sector. It includes every type of business offering a service and is also known as the service sector.

On-the-other-hand, today’s Service Industry offers an ever-growing assortment, for instance: a dentist cleaning teeth; the busboy clearing the dishes; private school teachers; cable television linemen; the court stenographer recording your case; the ever-popular dating web sites; the doctor taking out your appendix; the water taxi in the marina and so on. In our free economy, the sale of products creates profits where services create wealth.

The population of India hovers around 1.3 Billion so services are necessary, as they are in every location, to accommodate

Several growth factors contribute to India’s burgeoning national and global economic presence. Having the largest population of youth on the planet means that India’s workforce is surging, especially in the areas of agriculture and manufacturing. The nation’s growth in production, income, and education leads to a rising middle class consumer base. Finally, the growth of India’s economy is facilitated by political leadership changes and government initiatives that favor an open economy and global competition.

The service sector has been the fastest and most consistently growing one in Chile’s economy, due to the rapid development of communication and information technology, access to education and an increase in specialized and skilled workforce (Embassies, Consulates and Multilateral Missions of Chile 2007).

The telecommunications industry in India has experienced dramatic growth in the last decade. In 1991 the number of telephone lines per 100 people was only 1. However, by the end of 2004 that number had increased 9 times. Along with this, the telecom industry now provides employment to about two million people. The industry turnover in this field expanding and is currently around $13 billion. The U.S. mainly participates by selling equipment to Indian companies and by investing in such companies. They also outsource many of thier tech support employment positions to India. India’s information technology and IT-enabled services industry is a major force in India’s booming economy, achieving double digit growth rates and an industry revenue expected to top $28 billion. To add to this growth, the Executive Committee on Information Technology works closely with NASSCOM, India’s largest software association to promote industry-wide growth and market regulation. On another technological path, the broadcasting entertainment industry is yet another booming industry among those that make up India’s economy. With over 100 million household televisions, and nearly 60% of these households using cable or satellite TV, there are nearly 40,000 cable service providers in India. The sector has benefited from a light regulatory system, even though this has also caused a great deal of piracy and

Services sector has emerged as a prominent sector among others in terms of its contribution to the nation’s income, revenue, level of employment, flow of trade crossing borders, foreign direct investment, etc. To achieve the fourth millennium development goal poverty reduction and access to basic services like education, water & health care [1], both educational as well as health care services have become crucial to a nation’s development. LPG era has led the services consumers to consume services of international standard. One among the more vital area of service sector is health care services. It is highly essential to have congruence of services provided and the expectations of the patients. It is comprehensive that quality is assured when the customer perceptions and expectations are met.

India and China, the two dragons constantly fighting with each other, both historically and economically. Although China appears to indulge in the media’s thoughts, perhaps India has been slowly but surely closing the gap or even taking the edge.

According to KPMG’s Report (2014), for the past five years, there is a notable stable economic growth despite the recent economic recession that was evident in several countries, especially the developed nations. This is a basis in which we can build fundamental concerns that expansion of services is a viable venture. Consistent growth of businesses despite low growth, low inflations and competitive market environments, most nations are experiencing relative growth in their GDP. It

Abstract: India is a hub to countless call centers helping people from around the around 24/7. In this essay I will try find and discuss the main reasons why India has emerged as the nerve center of IT support (and why it is experiencing a decline) as well as to know what makes costumer service jobs so attractive and why so many young people are committing themselves to working in that field.

There are tons of economically successful counties in the world. However, these days two really stick out in the economic crisis. We are in currently; those are China and India. China and India are almost surpassing the United States faster than we can even try to catch up. They are moving at such an economically booming rate. China and India are moving and surpassing the United States with trade and by getting interest from loans to other countries. China and India are huge economic threats to the United States economy. In this research paper, I will be explaining why China and India are huge economic threats to the United States, why china and India are growing at substantially fast rates,

The service industry now makes up almost as much as 60-65% of the global economy with India being a major contributor to this industry (KPMG, 2016). India has dignity to know that its country is one of the fastest-growing service sectors in the world. According to KPMG (2016), services remain the key driver of India’s economic growth and continues to grow strong and steady. The services sector contributes more than 50% to India’s GDP and is growing at about 10% per year. IT outsourcing has been a major source of employment for the people living in India. The service sector in India has exceed agriculture with a greater share of GDP and is now considered a service based economy instead of an agriculture economy. In general, the service

1. Which of the theories of international trade can help Indian services providers gains competitive edge over their competitors?