Service Industry Business Ideas in India
First of all let us understand what is Service Industry and How it works? Well, in Simple words the Service Business is one which provides some kind of service rather than tangible products to the customers. Say for Example, Mobile Phones, Internet Services, Electricity, Telephone, Satellite TV Channel, Pet Sitting, Baby Sitting are few examples of Service Industry Businesses.
The Service Sector in India -
India is world’s second largest country after China. The Indian population is well above 1 Billion which makes any Service Business viable in India. Service Sector in India today accounts for more than half of India's GDP.
The various sectors that combine together to constitute service industry in India are:
- Trade
- Hotels and Restaurants
- Railways
- Other Transport & Storage
- Communication (Post, Telecom)
- Banking
- Insurance
- Dwellings, Real Estate
- Business Services
- Public Administration; Defence
- Personal Services
- Community Services
- Other Services
India is a fastest growing economy in the world today. The above are the 13 Service Sectors in India. I am sure that you will find your own Niche in any of the above Service Sectors in India. All of the above services are basic services and there is a huge demand for all of these services in India.
In alignment with the global trends, Indian service sector has witnessed a major boom and is one of the major contributors to both employment and national income in recent times.
What I advise you to young generation that, Start your Business in this Industry as early as possible. This is because it takes a time to develop a Brand Value and Customer Trust in this Industry. The more older and reputable your Brand, the more money your business will make. It is that Simple.
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