: Services sector blooms in Telangana #IndiaNEWS #Business Hyderabad: The services sector remained a dominant sector in Telangana’s economy, with a share of 62. 8% in the Gross State Value Added (GSVA)

Services sector blooms in Telangana #IndiaNEWS #Business
Hyderabad: The services sector remained a dominant sector in Telangana’s economy, with a share of 62. 8% in the Gross State Value Added (GSVA) at current (2022-23) prices, according to the Telangana Socio Economic Outlook 2023.
The Compounded Annual Growth Rate (CAGR) of Gross Value Added (GVA) by the services sector in Telangana was 12. 81% between 2014-15 and 2022-23, 2. 36 percentage points higher than the All-India average of 10. 45%. The services sector includes trade, repair, hotels, and restaurants, transport, storage, communication, broadcasting, transport, financial services, real estate, and others.
The ‘real estate, ownership of dwelling and professional services’ is the most dominant sub-sector in the State. It contributed more than one-third (33. 2%) of the GVA at current (2022-23) prices. It is also the largest sub-sector (20. 85%) of the state’s total GVA.
More than one-third (33. 2%) of total workers in Telangana are employed in the services sector. At the all India level, this is 29. 64%. Within the services sector, more than one-third of total workers (39. 75%) are employed in the ‘trade, hotels and restaurantp?&H?X??X???X??]?IH??????H[?YY[?H8?&?[?????Y?H[???[][?X?][??&H?X??X????]?X???[?[????
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