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India Services Sector a Multi-Trillion Dollar Opportunity for Global Symbiotic Growth April 2017

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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 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 Message from Confederation of Indian Industry Services sector contributes mora than 60% to CII is proud to collaborate with Deloitte India to India's economy and 28% to the total release a report on Services sector in India and we employment. Attracting highest FDI inflows, hope this would be useful for future businesses. services sector is on a growth trajectory driven by We are happy to release this important report at digital efforts of the government and highly skilled the prominent event of Global Exhibition on and low cost manpower. Services 2017 organized jointly by the Ministry of Commerce and Industry, Government of India, We have witnessed good revenue generation with Services Export and Promotion Council (SEPC) and growing sectoral activities across tourism, Confederation of Industry (CII). The goal of GES is healthcare, telecom, information technology, to provide a strong fillip to the global services banking, finance, education and space. The new sector becoming a forum for trade, knowledge sectors, which have gained significant momentum exchange, and fresh partnerships between from government and private players, include countries, governments, and businesses. sports, railways and retail including e-commerce and hence, these are included as focus areas in the Global Exhibition on Services 2017. These sectors are increasingly gaining global visibility and attracting global players to invest and partner with domestic players. Various government initiatives – Smart Cities, Clean India, Digital India, etc. are creating enabling environment giving further push to the services sectors such as communication, healthcare, environment, technology, energy, banking to name a few. With the right regulatory and policy Chandrajit Banerjee framework and creating a climate that will ease Director General, the way of doing business in India, the services Confederation of Industry sector can achieve new height and hold an enlarged share of global services trade pie. These conscious efforts of the government to engage with global companies and governments have led to increased investments and participation in India’s strategic initiatives. However, simplified regulations and standards, and the establishment of global rules on services such e-commerce, etc. to facilitate cross-border trade will be critical for future growth. 04 India Services Sector | A Multi-trillion Dollar Opportunity for Global Symbiotic Growth Message from Deloitte In order to showcase India’s potential in the Deloitte India is honored to work with the Ministry services sector and the numerous opportunities it of Commerce and Industry and CII for this grand presents, the Ministry of Commerce and Industry event. We have prepared a publication in association with the Confederation of Indian highlighting and introducing the opportunities in Industry (CII) and SEPC have organised the third various services sectors in India. This publication edition of the Global Exhibition on Services (GES), provides the industry profile of key services to be held in Greater Noida. This year, 70 countries sectors, such as IT, telecom, media and are expected to attend this mega event, which is entertainment, healthcare, banking & financial focussing on 20 sectors. services, retail, railways, environment, energy, logistics, exhibition & event, facility, education, India has the fastest growing (9.2% in 2015-16) space, skills, start-ups and sports. The publication service sector in the world and contribute about in particular highlights the focus of each sector on 66% to Indian GDP. The services sector, which various government initiatives – Skill India, Digital stands at about $1.48 trillion, has a potential for India, Start-up India and Make in India. We have exponential growth riding on various government emphasized on the key drivers of growth in initiatives like Make in India, Skill India, Start-up various services sectors in India and the potential India and Digital India. Unique innovations of for global expansion of services. The publication IndiaStack namely Aadhaar, DigiLocker, e-Sign, also focusses and delves into special areas such as 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 consent platform will enable exponential growth. publication also focusses on emerging India’s distinctive competencies and competitive opportunities in space technology, R&D, cyber advantage formed by the knowledge-based security and the northeast region. services makes it unique emerging market in the world. Wide range of service sectors have seen We hope the publication will enable various double digit growth in the last few years backed stakeholders such as the services industry, the by digital technologies and institutional public as well as the private sector to identify the mechanisms facilitated by the government. With future prospects for each of the service sectors significant progression in cultural and government covered in the publication and help in their outlook, the ease of doing business in India has strategic thinking and planning. substantially improved for both, domestic and international players. Today, India is home to some of the best companies of the world as a result of the continuing reforms in terms of reducing trade barriers, relaxing FDI restrictions and deregulation. 05 India Services Sector | A Multi-trillion Dollar Opportunity for Global Symbiotic Growth Executive Summary Information Technology Sector Overview Global Industry • The worldwide IT services market will reach $938 billion in 2017 • The global IT spending is expected to reach $3.5 trillion in 2017 • 26 billion internet connected devices and over 4 billion internet users by 2020 • In 2016, IP traffic 1.1 Zeta Bytes (over 1 trillion GB), by 2020 IP traffic is expected to touch 2.3 ZB Indian Industry • Indian IT-BPM sector size is $143 billion and is expected to reach $155 billion by 2017 • Exports market: $108 billion in 2016 • Domestic market: $52 billion • GDP contribution: 9.5% Key Events • World Conference on Information Technology, China • Consumer Electronic Show (CES), Las Vegas • Mobile World Congress, Barcelona Demand Drivers • Digital transformation across industries • Growing Internet penetration and smart devices ($4.3 trillion connected life opportunity) • Mainstream adoption of frontier technologies such as artificial intelligence, machine learning, robotics, automation, virtual reality • The cost of key technologies such as 3D printing, DNA, solar power, sensors, drones, etc. is falling rapidly • Rising demand of cost effective IT services in the emerging economies (Africa, ASEAN countries) 06 India Services Sector | A Multi-trillion Dollar Opportunity for Global Symbiotic Growth 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 • Engineering R&D • Digital delivery of • Rising domestic demand services – major governance and • Digital India ($1 trillion dollar opportunity) player in telecom citizen services & semiconductors • India Stack: Technology for 1.2 billion (Aadhaar, UPI, e-KYC, eSign, DigiLocker) • Technology • Leveraging infrastructure for • Rising popularity of ICT enabled services domestic digital economy • Tech savvy young demography manufacturing • National industry for next • Upgradation of talent with new and emerging skills e-Governance gen services plan 2.0 • Moving to full transparency in online procurement by Government e-market place Skill India Start-up India • Programming of chatbots and robotic process automation along with applications of machine learning • Creating Skillful • Fueling the employment with technology online vocational startups in India courses. Making • Providing a young students platform to employable and technology savvy
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