India's Services Sector Spurs Economic Growth with Robust Expansion

India's services sector has seen significant growth, becoming a key driver of economic expansion and employment. The sector's growth accelerated from 7.6% in the pre-pandemic period to 14% between FY23-FY25. India's share in global services trade has doubled since 2005, and services now contribute over half of the country's Gross Value Added (GVA). Robust foreign direct investment, particularly in digital and knowledge-intensive activities, powers this growth.

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