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Business
10 of 19 Indian Services Sub‑Sectors Record Double‑Digit Growth in July
✍️ tennews.in
🗓 30 Sep 2026, 02:18 AM
👁 12
In July, ten of the 19 service sub‑sectors in India posted double‑digit growth, signalling robust expansion in the country’s services economy.
The latest data released by the Ministry of Statistics and Programme Implementation shows that ten service sub‑sectors achieved growth rates above 10% in July 2024. The sectors include information technology, telecommunications, and financial services, among others. This surge follows a modest 2.4% growth in the overall services sector during the same month.
The report highlights that the high growth is driven by increased demand for digital services, e‑commerce, and financial inclusion initiatives. Economists note that such performance could help offset slower growth in manufacturing and agriculture.
The government has announced plans to further support the services industry through tax incentives and infrastructure development. Analysts expect the momentum to continue into the second quarter of 2024.
The report highlights that the high growth is driven by increased demand for digital services, e‑commerce, and financial inclusion initiatives. Economists note that such performance could help offset slower growth in manufacturing and agriculture.
The government has announced plans to further support the services industry through tax incentives and infrastructure development. Analysts expect the momentum to continue into the second quarter of 2024.