Name: DEBOLINA KUNDU BBA 6TH SEMESTER MARKETING OF SERVICES ASSIGNMENT

The service industry forms a backbone of social and economic development of a region. It has emerged as the largest and fastest-growing sectors in the world economy, making higher contributions to the global output and employment. Its growth rate has been higher than that of agriculture and manufacturing sectors. It is a large and most dynamic part of the Indian economy both in terms of employment potential and contribution to national income. It covers a wide range of activities, such as trading, transportation and communication, financial, real estate and business services, as well as community, social and personal services.

The recent global financial crisis has hit the real estate and financial sector of the country. Fall of the sub-prime market has given a big blow to the services sector. The country is currently going through a period of economic recession but is expected to recover soon from this situation.

the Services sector is the primary economic sector of USA. It contributes nearly 67.8% towards the GDP of the country. In 2007, service sector contributed almost 78.5% and the industrial sector contributed 20.5% towards USAs GDP. The country generates a yearly industrial output of about $2696880 million (2006 data). Petroleum, chemicals, fertilizers, electronic goods are some of the chief industries of this sector. In fact, mining is also a chief industry of the US Economy. In 2007, the production or manufacturing sector grew at a rate of 0.3% during March. However, it recorded a positive growth rate during the later part of the year

The Gross Domestic Product (GDP) in India expanded 8.20 percent in the fourth quarter of 2010 over the same quarter, previous year. From 2004 until 2010, India's average quarterly GDP Growth was 8.40 percent reaching an historical high of 10.10 percent in September of 2006 and a record low of 5.50 percent in December of 2004. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Services are the major source of economic growth, accounting for more than half of India's output with less than one third of its labor force. The economy has posted an average growth rate of more than 7% in the decade since 1997, reducing poverty by about 10 percentage points. This page includes: India GDP Growth Rate chart, historical data and news

Being a developing country, India is not as economically prosperous as the United States. In this case study, we will observe factors of economic growth that allow the United States to be more developed and are being implemented by India in an effort to achieve economic progress. Both the United States and India are projected to increase their purchasing power by 2020

Furthermore, India is shown to experience a relatively significant increase in purchasing power compared to the other countires; this is exemplified by the fact that even though India's purchasing power is less than that of Japan in 1995, India is expected to have equal purchasing power as Japan by 2020.India must be implementing certain factors , such as foreign investment, that allow for an increase in purchasing power and, thus, economic growth

While both countries have high GDP, the monetary value of GDP for the United States is considerably higher than that of India. Figure 4 illustrates literacy rates for males and females in the United States and India. In India, 47% women literate and 70% of the males are literate. In the United States, equal literacy rates exist for men and women, with 97% of both genders being literate. Lower GDP values for India could be caused by the unequal literacy rates between males and females that continue to persist in India, suggestive of the need to implement gender equality to achieve economic growth.

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