Key Service Businesses in India

Major Service Businesses In India are as follows:

Key Service Business in India

1) Education and Health Service Businesses: Schools, colleges, universities, and training centers are parts of the educational service sector. Various health services like nursing care facilities, home healthcare services, physician’s offices, hospitals, etc., are included in the healthcare and social assistance sector.

2) Financial Service Businesses: Two main sub-sectors are included in this service business, i.e., ‘finance and insurance sub-sector’ and ‘real estate, rental, and leasing sub-sector.’ The companies involved in financial transactions constitute the finance and insurance sub-sector of the financial services. These include insurance carriers, saving institutions, security brokers, commercial banking, credit unions, etc.

3) Government Service Businesses: Government service businesses are composed of enterprises under government control. It includes enterprises of central, state, and local agencies involved in the administration and management of public welfare programs. These services’ functions include developing laws and policies and settling criminal and legal cases to maintain national security.

4) Information Service Businesses: Information and cultural products are developed and distributed through information service businesses. These service businesses also provide a means for data processing as well as for distributing information products.

5) Leisure and Hospitality Service Businesses: Two sub-sectors, i.e., ‘arts, entertainment, and recreation sub-sector* and ‘accommodation and food sub-sector,’ compose to form leisure and hospitality service businesses. The following types of activities are performed within the arts, entertainment, and recreation sub-sector:

  1. Live performances, exhibitions, or events,
  2. Preservation and exhibition of historical, educational, and cultural places and
  3. Developing centers or institutions for leisure, hobby, or amusement

6) Professional and Business Services: This sector comprises ‘professional, scientific, and technical services,’ ‘management of various businesses’ and ‘administration, support, waste management, and remediation services.’

7) Transportation and Warehousing and Utilities Service Businesses: The transportation sector involves activities related to the transportation of freight, travelers, passengers, etc. The warehousing sector involves activities associated with the storage of goods. Other activities involved in this sector are related to the management of various modes of transportation, such as air, water, rail, road, etc.

8) Wholesale and Retail Trade Businesses: The wholesale and retail sector is comprised of various services provided by the wholesalers and retailers to their business associates, customers, and other individuals.

9) Other Services: The various activities which do not make a part of the sectors mentioned above are included here. These activities may be related to laundry and dry-cleaning, parking, personal healthcare, beauty care, photographing, pet care, repair services for machines and other equipment, etc.

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