South Africa tour of India 2019
Telangana's Service Industry Is Flourishing.
Between 2014–15 and 2022–23, the CAGR of GVA in the State's services sector was 12.81%, or 2.36 percentage points more than the 10.45% average for all of India.
According to the Telangana Socio Economic Outlook 2023, the services sector maintained its position as the state's economic leader, accounting for 62.8% of the Gross State Value Added (GSVA) at current (2022-23) prices.
Between 2014–15 and 2022–23, Telangana's services industry saw a compound annual growth rate (CAGR) of 12.81%, 2.36 percentage points more than the 10.45% All–India average. The services industry encompasses commerce, maintenance, lodging and dining, transportation, storage, broadcasting, communication, transportation, financial services, real estate, and other activities.
The state's most significant subsector is "real estate, ownership of residence, and professional services." At current (2022-23) pricing, it provided more than a third (33.2%) of the GVA. Additionally, it accounts for the greatest portion of the state's overall GVA (20.85%). The services industry in Telangana employs almost one-third (33.2%) of all workers. The overall percentage for India is 29.64%. The "trade, hotels and restaurants" sub-sector employs more than one-third (39.75%) of all workers in the services industry. In Hyderabad, the demand for gig workers increased by 45%.
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