Business services sector is comprised of organizations that offer ancillary solutions to other players in the market place. The Indian services sector which involves financial, banking, insurance, non-financial/company, outsourcing, analysis and development, courier and technical test analysis, has attracted the highest amount of FDI equity inflows in the period April 2000-December 2016, amounting to about US$ 58.345 billion which is about 17.99 per cent of the total foreign inflows, according to the Department of Industrial Policy and Promotion (DIPP).
The drive for enhanced efficiency in the face of strong competitive pressures as properly as advances in communication technologies have also underpinned efforts to shift components of the internal operations of some business enterprise services firms offshore, in particular for larger firms.
The Ministry of Electronics and Info Technology has launched a services portal, which aims to present seamless access to government solutions related to education, well being, electrical energy, water and local solutions, justice and law, pensions and benefits, through a single window.
As far as the existing trends of catering solutions sector are concerned, it has attained status amongst major industries with an ever-growing demand of various solutions offered by it. Social caterers in the United States, for example, make sales of over 6.five billion dollars every single year.
The Central Government is contemplating a two-rate structure for the goods and service tax(GST), below which essential solutions will be taxed at a reduced price compared to the typical price, which will enable to reduce the impact on shoppers due to improve in service tax.