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India's cellular sector grows at 180%
October 02, 2003 16:28 IST
India's services sector continued on its high growth track during the first half of the current fiscal, according to the Confederation of Indian Industry-ASCON report.
"With cellular services recording a growth of 180 per cent, housing finance 35 per cent, project consultancy 43 per cent and software exports 40 per cent during the April-September period this year, India's economy received a big boost, a CII release said in New Delhi on Thursday, quoting the report.
As expected, the software industry -- domestic as well as exports -- performed well, registering a growth of 20 and 40 per cent, respectively, distinctly higher than the sector's performance in the corresponding period in 2002-03, it said.
The construction industry recorded high growth rate of 14 per cent in terms of production and 43 per cent in terms of exports.
Tourism and air cargo transportation recorded 13 per cent growth, while the leasing industry turned in poor performance, registering a negative growth rate of three per cent due to the Reserve Bank of India's restrictive policies curtailing the growth of NBFCs, it said.
Asking the government to address the sector's concerns by way of improving quality of cargo complexes to ensure smooth movement of cargo and single point government tax for the hotel industry, the CII said the Centre should also accord industry status to courier services and other IT related activities.