Nowadays it’s difficult to have a conversation about countries that are progressing without mentioning India. The scale and pace at which this country is developing is amazing. With the social and economic changes that are occurring it’s no surprise, India is on its way to becoming a global powerhouse. The level of foreign and domestic investment in India has also increased; with the amount of investment currently occurring, our experts believe the following 4 industries are really going to stand out in the coming years.
According to the Economic Survey 2015-16, the services sector contributed almost 66% of its gross value added growth in 2015-16. As per the ILO (International Labour Organisation) report on “Global Employment and Social Outlook : Trends 2015” employment creation in future years will primarily be in the service sector. The service industry encompasses many areas including but not limited to, IT, finance, customer service and the KPO/BPO sector.
According to a report by eMarketer, retail e-commerce in India grew 129% from 2014 to 2015. Presently only about 19% of Indians use the internet. This shows the massive potential of internet and e-commerce use in India as internet availability and usage increases. For the next few years this number is only going to grow.
According to http://www.ibef.org/ India needs Rs 31 trillion (US$ 454.83 billion or UK £353.2 billion) to be spent on infrastructure development over the next five years, with 70 per cent of funds required for power, roads and urban infrastructure segments. The level of physical development is staggering and obvious everywhere one looks in India. Initiatives like Smart Cities and Digital India are also playing their role in infrastructure development.
Air & Port:
With increasing salary levels and a growing middle class, passenger air traffic is expected to grow significantly by 2020. According to the Directorate General of Civil Aviation, in 2015 domestic airlines in India flew 81 million passengers, registering a 20% growth over 2014. This is still quite low when compared to countries like the United States however, the advantage is that this is still quite a new and booming market with huge potential.
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