Apr-Oct services growth gains momentum: CII survey

Apr-Oct services growth gains momentum: CII survey

New Delhi: Growth in the services sector led by an over 20% jump in the wireless and broadband subscriber base gained momentum during the April-October period of this year against the same period last year, a CII survey said.

“There has been a significant improvement in the growth rates of various services sectors during April-October 2009 compared to April-October 2008," the survey based on response from 350 firms said.

The survey points out that around 12% of the services sector including wireless and broadband subscribers and asset under management firms registered excellent growth rate of over 20% during the period compared to 12.5% April-October last year.

It further said services like exchange earnings from foreign tourists, franchising, life insurance premium, housing finance, education and training fall under high growth category of 10-20%.

Railways’ freight and passenger revenues, international and domestic air passenger traffic and software services fell under moderate growth of 0-10%, the survey said.