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India Services Sector a Multi-Trillion Dollar Opportunity For India Services Sector A Multi-trillion Dollar Opportunity for Global Symbiotic Growth April 2017 India Services Sector | A Multi-trillion Dollar Opportunity for Global Symbiotic Growth Contents Message from Confederation of Indian Industry 04 Message from Deloitte 05 Executive Summary 06 Trade Facilitation in Services 45 Focus Sectors 48 1. Skills 49 2. Education 52 3. Banking & Financial Services 56 4. Healthcare Services 60 5. Information Technology 63 6. Next Gen Cities 69 7. Start-ups / SME in Services 73 8. Media & Entertainment 78 9. Sports Services 83 10. Telecom 88 11. Logistics 93 12. Retail & E-commerce 101 13. Environmental Services 104 14. Energy Services 109 15. Space 115 16. Railway Services 120 17. Professional Services 123 18. Tourism & Hospitality 131 19. Wellness 136 20. Facility Management 140 21. Exhibition and Event Services 143 Emerging Opportunities 146 1. Cyber Security 147 2. Northeast India 151 3. Research & Development 157 About Confederation of Indian Industry 160 About Deloitte 161 Acknowledgements 163 Contacts 164 References 166 03 India Services Sector | A Multi-trillion Dollar Opportunity for Global Symbiotic Growth India Services Sector | A Multi-trillion Dollar Opportunity for Global Symbiotic Growth Message from Confederation Message from of Indian Industry Deloitte Services sector contributes mora than 60% to CII is proud to collaborate with Deloitte India to In order to showcase India’s potential in the Deloitte India is honored to work with the Ministry India's economy and 28% to the total release a report on Services sector in India and we services sector and the numerous opportunities it of Commerce and Industry and CII for this grand employment. Attracting highest FDI inflows, hope this would be useful for future businesses. presents, the Ministry of Commerce and Industry event. We have prepared a publication services sector is on a growth trajectory driven by We are happy to release this important report at in association with the Confederation of Indian highlighting and introducing the opportunities in digital efforts of the government and highly skilled the prominent event of Global Exhibition on Industry (CII) and SEPC have organised the third various services sectors in India. This publication and low cost manpower. Services 2017 organized jointly by the Ministry of edition of the Global Exhibition on Services (GES), provides the industry profile of key services Commerce and Industry, Government of India, to be held in Greater Noida. This year, 70 countries sectors, such as IT, telecom, media and We have witnessed good revenue generation with Services Export and Promotion Council (SEPC) and are expected to attend this mega event, which is entertainment, healthcare, banking & financial growing sectoral activities across tourism, Confederation of Industry (CII). The goal of GES is focussing on 20 sectors. services, retail, railways, environment, energy, healthcare, telecom, information technology, to provide a strong fillip to the global services logistics, exhibition & event, facility, education, banking, finance, education and space. The new sector becoming a forum for trade, knowledge India has the fastest growing (9.2% in 2015-16) space, skills, start-ups and sports. The publication sectors, which have gained significant momentum exchange, and fresh partnerships between service sector in the world and contribute about in particular highlights the focus of each sector on from government and private players, include countries, governments, and businesses. 66% to Indian GDP. The services sector, which various government initiatives – Skill India, Digital sports, railways and retail including e-commerce stands at about $1.48 trillion, has a potential for India, Start-up India and Make in India. We have and hence, these are included as focus areas in exponential growth riding on various government emphasized on the key drivers of growth in the Global Exhibition on Services 2017. These initiatives like Make in India, Skill India, Start-up various services sectors in India and the potential sectors are increasingly gaining global visibility India and Digital India. Unique innovations of for global expansion of services. The publication and attracting global players to invest and partner IndiaStack namely Aadhaar, DigiLocker, e-Sign, also focusses and delves into special areas such as with domestic players. UPI, BHIM, and AEPS riding on JAM Trinity has cyber security, trade facilitation, and start-ups/ created presence less, paperless, cashless and SMEs in services sectors. In addition to this, the Various government initiatives – Smart Cities, consent platform will enable exponential growth. publication also focusses on emerging Clean India, Digital India, etc. are creating enabling India’s distinctive competencies and competitive opportunities in space technology, R&D, cyber environment giving further push to the services advantage formed by the knowledge-based security and the northeast region. sectors such as communication, healthcare, services makes it unique emerging market in the environment, technology, energy, banking to world. Wide range of service sectors have seen We hope the publication will enable various name a few. With the right regulatory and policy Chandrajit Banerjee double digit growth in the last few years backed stakeholders such as the services industry, the framework and creating a climate that will ease Director General, by digital technologies and institutional public as well as the private sector to identify the the way of doing business in India, the services Confederation of Industry mechanisms facilitated by the government. With future prospects for each of the service sectors sector can achieve new height and hold an significant progression in cultural and government covered in the publication and help in their enlarged share of global services trade pie. These outlook, the ease of doing business in India has strategic thinking and planning. conscious efforts of the government to engage substantially improved for both, domestic and with global companies and governments have led international players. Today, India is home to to increased investments and participation in some of the best companies of the world as a India’s strategic initiatives. However, simplified result of the continuing reforms in terms of regulations and standards, and the establishment reducing trade barriers, relaxing FDI restrictions of global rules on services such e-commerce, etc. and deregulation. to facilitate cross-border trade will be critical for future growth. 04 05 India Services Sector | A Multi-trillion Dollar Opportunity for Global Symbiotic Growth India Services Sector | A Multi-trillion Dollar Opportunity for Global Symbiotic Growth Executive Summary Information Technology Potential for Global Expansion Strengths • Advisory services for the world in digital • Large pool of STEM talent transformation • Cost advantage • Asia Pacific Countries (Japan, China, • Expertise in technology enabled business transformation Australia and ASEAN countries) • Emerging African countries • Vibrant start-up ecosystem • South America Opportunities • Digital transformation of industries across the world • Growing domestic market in India, due to digital economy initiatives Linkages Growth Enablers Make in India Digital India • To transform India into a knowledge empowered economy Sector Overview • Engineering R&D • Digital delivery of • Rising domestic demand services – major governance and • Digital India ($1 trillion dollar opportunity) Global Industry player in telecom citizen services • The worldwide IT services market will reach $938 billion in 2017 & semiconductors • India Stack: Technology for 1.2 billion (Aadhaar, UPI, e-KYC, eSign, DigiLocker) • Technology • The global IT spending is expected to reach $3.5 trillion in 2017 • Leveraging infrastructure for • Rising popularity of ICT enabled services domestic digital economy • 26 billion internet connected devices and over 4 billion internet users by 2020 • Tech savvy young demography manufacturing • National • In 2016, IP traffic 1.1 Zeta Bytes (over 1 trillion GB), by 2020 IP traffic is expected to touch 2.3 ZB industry for next • Upgradation of talent with new and emerging skills e-Governance gen services Indian Industry plan 2.0 • Moving to full transparency in online procurement by Government e-market place • Indian IT-BPM sector size is $143 billion and is expected to reach $155 billion by 2017 Skill India Start-up India • Programming of chatbots and robotic process automation along with applications of • Exports market: $108 billion in 2016 machine learning • Creating Skillful • Fueling the • Domestic market: $52 billion employment with technology • GDP contribution: 9.5% online vocational startups in India courses. Making • Providing a Key Events young students platform to World Conference on Information Technology, China employable and • technology savvy providing working • Consumer Electronic Show (CES), Las Vegas entrepreneur population with culture in India • Mobile World Congress, Barcelona new skills Demand Drivers Case Study • Digital transformation across industries • Smart India Hackathon 2017: World’s largest hackathon involving over 3 million technology students, 6400+ technology institutions in • Growing Internet penetration and smart devices ($4.3 trillion connected life opportunity) India, 36 hours nonstop digital product development competition over 25 centers across the nation solving 600 problem statements
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