The service sectors in India had an estimated growth rate of nearly ***** percent in financial year 2020, marking a decrease of *** percent in growth compared to the previous year. Services included trade, hospitality, transport and communication services; finance, real estate, and public administration. These sectors combined, made up a share of nearly ** percent of gross value added across the county in fiscal year 2019.

In 2023, 43.51 percent of the workforce in India were employed in agriculture, while the other half was almost evenly distributed among the two other sectors, industry and services. While the share of Indians working in agriculture is declining, it is still the main sector of employment. A BRIC powerhouseTogether with Brazil, Russia, and China, India makes up the four so-called BRIC countries. They are the four fastest-growing emerging countries dubbed BRIC, an acronym, by Jim O’Neill at Goldman Sachs. Being major economies themselves already, these four countries are said to be at a similar economic developmental stage -- on the verge of becoming industrialized countries -- and maybe even dominating the global economy. Together, they are already larger than the rest of the world when it comes to GDP and simple population figures. Among these four, India is ranked second across almost all key indicators, right behind China. Services on the riseWhile most of the Indian workforce is still employed in the agricultural sector, it is the services sector that generates most of the country’s GDP. In fact, when looking at GDP distribution across economic sectors, agriculture lags behind with a mere 15 percent contribution. Some of the leading services industries are telecommunications, software, textiles, and chemicals, and production only seems to increase – currently, the GDP in India is growing, as is employment.

The India semiconductor market, valued at $39.5 billion in 2025, is projected to experience robust growth, driven by a compound annual growth rate (CAGR) of 16% from 2025 to 2033. This expansion is fueled by several key factors. Firstly, the burgeoning domestic electronics manufacturing sector, spurred by government initiatives like the Production Linked Incentive (PLI) scheme, is significantly increasing demand for semiconductors across various applications. Secondly, the rapid growth of the Indian automotive, telecommunications, and consumer electronics industries necessitates a substantial and consistent supply of semiconductors. Thirdly, increasing digitalization across all sectors, from healthcare to finance, is further fueling this demand. The market segmentation reveals a diverse landscape, with integrated circuits (including analog, micro, logic, and memory chips) dominating the semiconductor device type segment, followed by discrete semiconductors, optoelectronics, and sensors and actuators. Significant end-user industries include computers, communications (both wireline and wireless), automotive, and consumer electronics. While challenges remain, including potential supply chain disruptions and global geopolitical uncertainties, the long-term outlook for the India semiconductor market remains exceptionally positive, driven by a supportive government policy environment and increasing domestic consumption. The key players in this dynamic market include a mix of global giants like Intel, Samsung, and Qualcomm, alongside prominent Indian companies such as Tata Group, Bharat Electronics Limited, and Vedanta Semiconductors. This blend of international expertise and growing domestic capabilities positions India strategically for further advancements in semiconductor manufacturing and technological innovation. The competitive landscape is characterized by ongoing investments in research and development, strategic partnerships, and mergers and acquisitions, all aimed at solidifying market share and driving technological advancements within the rapidly evolving semiconductor ecosystem. The government's focus on building a robust domestic semiconductor manufacturing base will likely play a crucial role in shaping the market's future trajectory, potentially attracting further foreign direct investment and fostering innovation. India Semiconductor Market: A Comprehensive Analysis (2019-2033) This in-depth report provides a comprehensive analysis of the burgeoning India semiconductor market, encompassing historical data (2019-2024), current estimates (2025), and future projections (2025-2033). It delves into market dynamics, key players, technological advancements, and regulatory landscapes, offering invaluable insights for businesses, investors, and policymakers. The report utilizes a robust methodology, incorporating both primary and secondary research to ensure accuracy and reliability. This report is crucial for understanding the opportunities and challenges within India's rapidly growing semiconductor industry. Recent developments include: July 2024: AMD announced a partnership with the Society for Innovation and Entrepreneurship (SINE) at IIT Bombay. Through this collaboration, AMD will provide grants to startups incubated at IIT Bombay focused on developing energy-efficient Spiking Neural Network (SNN) chips. These startups will be working on innovative ways to decrease the energy consumption of traditional neural networks. As part of this partnership, Numelo Technologies was awarded the first grant to develop SNN chips using ultralow power quantum tunneling on silicon-on-insulator (SOI) technology., July 2024: Horiba, a Japanese analytical and measurement solutions company with a valuation of USD 2.5 billion, announced that it was considering establishing a unit in India. This facility aims to serve the needs of India's developing fabrication (fab) plants, OSAT (outsourced semiconductor assembly and test) companies, and ATMP (modified assembly, testing, marking, and packaging) players, as well as the expanding global market.. Key drivers for this market are: Growing Automotive Industry and EV Demand, Smartphone and Consumer Electronics Demand Growth; Growing Telecom Infrastructure Augmented by 5G and Fixed Internet Connections. Potential restraints include: Growing Automotive Industry and EV Demand, Smartphone and Consumer Electronics Demand Growth; Growing Telecom Infrastructure Augmented by 5G and Fixed Internet Connections. Notable trends are: The Sensors and Actuators Segment is Expected to Witness Significant Growth.

The Report Covers India's Big Data Services Market Trends and is Segmented by Type (Solution, Services), Organization Size (Small & Medium Enterprise, Large Enterprise), and End-User Vertical (BFSI, Retail, Telecommunication & IT, Media & Entertainment, Healthcare). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The Indian Oil and Gas Industry offers a diverse range of products, including crude oil, refined petroleum products, natural gas, and petrochemicals. Crude oil is primarily used in refineries to produce gasoline, diesel, and other fuel products. Refined petroleum products are widely consumed in transportation, industrial, and residential sectors. Natural gas is gaining popularity as a cleaner fuel alternative and is used for power generation and industrial processes. Petrochemicals are used to manufacture plastics, fertilizers, and other essential products. Recent developments include: In March 2023, Indian Oil Corporation Ltd. announced that the company would invest USD 742 million in building a petrochemical complex at Paradip in the state of Odisha., In January 2022, Adani Total Gas Ltd (ATGL), a joint venture between the Adani Group and TotalEnergies, won licenses to expand its City Gas Distribution (CGD) network to 14 new geographical areas with an investment of USD 243 million.. Key drivers for this market are: 4., Increasing Investment in the Upstream Sector4.; Supportive Government Policies. Potential restraints include: 4., Increasing Demand to Diversify the Power Generation Mix by Introducing Renewable Energy Sources. Notable trends are: The Downstream Sector is Expected to Witness Significant Growth.

The India Capital Market Exchange Ecosystem report segments the industry into By Primary Markets (Equity Market, Debt Market, Corporate Governance and Compliance Monitoring, Corporate Restructuring, and more) and By Secondary Markets (Cash Market, Equity Derivatives Markets, Commodity Derivatives Market, Currency Derivatives Market, Interest Rate Derivatives Market, Market Infrastructure Institutions, Intermediaries Associated).

The Indian steel fabrication industry is experiencing robust growth, driven by large-scale infrastructure development projects, increasing urbanization, and a burgeoning manufacturing sector. The industry's Compound Annual Growth Rate (CAGR) of 8.71% from 2019 to 2024 indicates significant expansion, a trend projected to continue through 2033. Key drivers include government initiatives promoting infrastructure development (like the Bharatmala project and Smart Cities Mission), rising demand for construction materials in both residential and commercial sectors, and a growing need for steel structures in energy and industrial applications. The market segmentation reveals a strong demand for both heavy and light sectional steel, with the manufacturing and power & energy sectors being major end-users. While the exact market size in 2025 isn't specified, considering the CAGR and assuming a 2024 market size of approximately $50 billion (a reasonable estimate for a rapidly growing market of this type), the 2025 market size could be projected at roughly $54 billion. This projection is a reasonable estimate based on market trends and industry growth patterns and is not a precise figure. The competitive landscape is fragmented, with numerous companies ranging from large established players like Bharat Process and Mechanical Engineers Limited to smaller regional fabricators. However, consolidation is expected as larger firms seek to expand their market share through acquisitions and strategic partnerships. While growth is promising, challenges remain. These include fluctuating raw material prices (iron ore, steel billets), potential supply chain disruptions, and the need to adopt advanced technologies and sustainable practices to improve efficiency and reduce environmental impact. Future growth will likely be influenced by government policies related to sustainable infrastructure, technological advancements in steel fabrication, and the overall economic health of India. The industry is poised for continued expansion, provided these challenges are effectively managed. This report provides a detailed analysis of the Steel Fabrication Industry in India, covering the period 2019-2033. It offers invaluable insights into market size, growth drivers, challenges, and future trends, making it an essential resource for industry stakeholders, investors, and researchers. With a base year of 2025 and an estimated year of 2025, this report projects market dynamics until 2033, leveraging historical data from 2019-2024. Keywords: Indian Steel Industry, Steel Fabrication Market, Steel Fabrication India, Steel Structures India, Metal Fabrication India, Indian Steel Market, Steel Construction India. Recent developments include: April 2023: AM Mining, a joint venture between Arcelor Mittal Luxembourg and Nippon Steel Corporation, Japan to acquire Indian Steel Corpn for INR 897 crore. The acquisition of Indian Steel Corporation will likely enhance downstream capabilities and broaden its product portfolio as the company looks to capitalize on market opportunities presented by the steel industry, especially in high-value-added steel production besides capturing synergies across downstream operations., November 2022: AM Mining India completed the acquisition of Uttam Galva Steels. AM Mining India is a joint venture between ArcelorMittal and Nippon Steel. ArcelorMittal is a world-leading steel and mining company based in Luxembourg. Japan's Nippon Steel, on the other hand, is one of the world's leading integrated steel producers.. Key drivers for this market are: Rising Demand for Pre-engineered Buildings and Components, Increasing Number of Manufacturing Plants and Infrastructure Development Activities in India. Potential restraints include: Rising Demand for Pre-engineered Buildings and Components, Increasing Number of Manufacturing Plants and Infrastructure Development Activities in India. Notable trends are: Rising Demand for Pre-engineered Buildings and Components.

The India Asset Management Market is Segmented by Asset Class (Equity, Fixed Income, Alternative Assets, and Other Asset Classes), by Firm Type (Broker-Dealers, Banks, Wealth Advisory Firms, and Other Firm Types), by Mode of Advisory (Human Advisory and Robo-Advisory), by Client Type (Retail and Institutional), and by Management Source (Offshore and Onshore). The Market Forecasts are Provided in Terms of Value (USD).

Market Size and Growth: The Indian power industry is a rapidly expanding market, with a projected market size of USD 237.40 billion by 2033, exhibiting a strong CAGR of 8.80% during the forecast period of 2023-2033. This growth is driven by factors such as increasing electricity demand, government initiatives to expand renewable energy sources, and modernization of transmission and distribution infrastructure. Key Drivers, Trends, and Restraints: The major drivers of growth in the Indian power industry include the rising population and urbanization, leading to increased electricity consumption. Government initiatives, such as the National Solar Mission and the Ujwal Discom Assurance Yojana, have significantly contributed to the growth of renewable energy sources. Digitalization and technological advancements are also driving industry trends, improving grid efficiency and reducing distribution losses. However, restraints such as regulatory uncertainties, financial constraints, and environmental concerns may impact future growth. Recent developments include: February 2023: United States Company signed a letter of intent with the Uttar Pradesh state government ahead of the Global Investors' Summit (GIS) to invest USD 99.65 million in the new technology. The company has signed 269 letters of intent ( LoI) so far to invest in the renewable energy sector in Uttar Pradesh., February 2023: in its pursuit of meeting the growing electricity demand with renewable sources, India approved its largest hydropower project in the mountainous northeastern region neighboring China. The government has greenlit an estimated investment of USD 3.9 billion for the Dibang project, which will have a capacity of 2,880 megawatts., December 2022: the Government of India, in collaboration with the Solar Energy Corporation of India Limited (SECI) and the World Bank, finalized agreements for financial support. These agreements include a loan of USD 150 million from the International Bank for Reconstruction and Development (IBRD), a loan of USD 28 million from the Clean Technology Fund (CTF), and a grant of USD 22 million from the CTF. This funding aims to assist India in augmenting its power generation capacity by leveraging cleaner and renewable energy sources.. Key drivers for this market are: 4., Increasing Energy Demand4.; Government Support for Power Sector. Potential restraints include: 4., Financial Viability. Notable trends are: Thermal Source for Power Generation to Dominate the Market.

The India Location-Based Services Market report segments the industry into By Component (Hardware, Software, Services), By Location (Indoor, Outdoor), By Application (Mapping and Navigation, Business Intelligence and Analytics, Location-based Advertising, Social Networking and Entertainment, and more), and By End-User (Transportation and Logistics, IT and Telecom, Healthcare, Government, BFSI, Hospitality, and more).

Between 2022 and 2026, it was estimated that the automotive industry would contribute the most to the growth of the semiconductor industry in India at ** percent. It was followed by the telecom equipment sector at ** percent. During the same period, smartphones and wearables were the largest market for semiconductor applications in India.

The India Foodservice Market is segmented by Foodservice Type (Cafes & Bars, Cloud Kitchen, Full Service Restaurants, Quick Service Restaurants), by Outlet (Chained Outlets, Independent Outlets) and by Location (Leisure, Lodging, Retail, Standalone, Travel). Market Value in USD is presented. Key data points observed include the number of outlets for each foodservice channel; and, average order value in USD by foodservice channel.

The manufacturing industry in India has emerged as a fast-growing sector owing to the rapidly increasing population in the country. Investments in the sector have been on the rise and initiatives like ‘Make in India’ aim to the South Asian country into a global manufacturing hub. The annual production growth rate in the manufacturing industry was 4.7 percent percent during fiscal year 2023.

Foreign and domestic enterprises

The gross value added by the manufacturing sector in India has grown steadily however it is still lower than services sector. With the prospect of a huge consumer market, global giants such as Siemens, HTC, Toshiba have already set-up or are in the process of setting up manufacturing plants across the region. Apple has also been setting up nascent operations in India to diversify from China-centered production. On the other hand, the micro, small and medium enterprises sector is also crucial to transforming India from an agriculture-based economy to an industrialized one. MSME's contribution to Indian GDP has remained stable over the last few years.

The future

With technology reaching what previously were unimaginable heights in the last decade, industries need to keep up with the current trends and the technology. The focus is shifting towards machine learning to improve the efficiency and precision of the work. Almost 50 percent of the decision-makers in the machine learning industry believed that machine learning solutions have a high impact on organizations. ‘Smart manufacturing’, a combination of internet of things and artificial intelligence are expected to see a growth in the coming decade.

India Real Estate Industry Report is Segmented by Property Type (Residential, Office, Retail, Hospitality, and Industrial) and Key Cities (Mumbai Metropolitan Region (MMR), Delhi NCR, Pune, Chennai, Hyderabad, Bengaluru and Rest of India). The Report Offers the Market Size and Forecasts in Value (USD) for all the Above Segments.

The India Biomass Market Report is Segmented by Feedstock (Agriculture Waste, Wood and Woody Residue, Solid Municipal Waste, and Other Feedstocks) and Application (Power Generation, Heating, and Other Applications). The Report Offers Market Size and Forecasts for the Indian Biomass Market in Terms of Capacity (GW) for all the Above Segments.

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India IT and BPO Services Market Size 2025-2029

The India IT and BPO services market size is forecast to increase by USD 214.8 billion, at a CAGR of 12.3% between 2024 and 2029.

The IT and BPO Services Market in India is segmented by end-user (finance, insurance, telecom, healthcare, others), type (export, domestic), product (IT services, BPM, software and research and development), outsourcing type (onshore, offshore, nearshore), deployment (on-premise, cloud), and geography (India). This segmentation reflects the market's robust growth, driven by strong demand for IT services and BPM in finance and healthcare sectors, significant export-oriented offshore outsourcing, and increasing adoption of cloud-based solutions across India.
The IT and BPO market in India is experiencing significant growth, driven by several key factors. One major trend is the increasing cost pressure for businesses to maintain their in-house IT systems. This has led to a rise in the adoption of IT and business process outsourcing as a cost-effective alternative. Another trend is the growing preference for application outsourcing, which enables companies to focus on their core competencies while outsourcing non-core functions.
However, effective communication between clients and companies remains a challenge. Despite this, the benefits of IT services and BPO services, such as cost savings, improved efficiency, and access to skilled resources, continue to attract businesses in various industries. As the market continues to evolve, it is essential for organizations to carefully evaluate their outsourcing strategies to maximize the value they derive from these services.

What will be the Size of the Market During the Forecast Period?

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The market continues to evolve, driven by the increasing adoption of artificial intelligence (AI) and the need for niche BPO services among businesses. Skilled labor, incentives such as tax breaks, and macroeconomic factors are key market dynamics. B2G, B2B, and B2C enterprises are increasingly turning to BPO services for technology spending optimization, particularly in areas like payroll, accounting, telemarketing, data processing, forms processing, running support, troubleshooting, problem resolution, software, hardware, peripherals, and up-selling. The ITES industry offers both horizontal services, catering to multiple industries, and vertical-specific services, addressing unique business requirements. AI technologies are transforming BPO services, enabling automation and improving efficiency, while internal resources and core competency remain crucial considerations for businesses.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

End-user

  Finance
  Insurance
  Telecom
  Healthcare
  Others


Type

  Export
  Domestic


Product

  IT services
  BPM
  Software and research and development


Outsourcing Type

  Onshore
  Offshore
  Nearshore


Deployment

  On premise
  Cloud


Geography

  India

By End-user Insights

The finance segment is estimated to witness significant growth during the forecast period. The market, particularly in the finance sector, experiences significant growth due to the increasing number of banking and financial institutions. These organizations rely on IT services for managed IT infrastructure management and BPO services for customer support and sales, enabling them to concentrate on their core operations. Global finance institutions increasingly depend on India for their IT and BPO requirements, contributing to the market's expansion. Key areas of focus include data security, ERP systems, personalized services, data processing, forms processing, running support, troubleshooting, and problem resolution. The market's growth is driven by the need for efficient and cost-effective services, ensuring data security, and addressing attrition rates within the ITES industry.

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India IT and BPO Services Market Dynamics

The India IT BPO services market is experiencing significant growth, driven by increasing demand for IT outsourcing India and comprehensive BPO services India. Businesses are prioritizing Digital Transformation India, leveraging advanced technologies like AI in Indian BPO and Cloud computing India to achieve operational excellence. The focus remains on delivering cost-effective BPO solutions India while addressing specific industry needs, particularly in Healthcare BPO India. Ensuring robust Cybersecurity India IT services is paramount. The strength of the Indian IT talent pool continues to be a

India Infrastructure Sector Market size was valued at USD 231 Billion in 2024 and is projected to reach USD 487 Billion by 2032, growing at a CAGR of 9.8% from 2025 to 2032.

India Infrastructure Sector Market: Definition/Overview

The India Infrastructure Sector encompasses the development, construction, and maintenance of essential physical structures and systems that support the nation’s economic and social activities. It includes transportation energy water supply and sanitation, urban infrastructure, and telecommunications. These components are crucial for enabling connectivity, enhancing productivity, and fostering sustainable growth in urban and rural areas. The sector acts as a backbone for other industries, facilitating trade, commerce, and public services.

In 2023, almost half of India’s GDP was generated by the services sector, a slight and steady increase over the last 10 years. Among the leading services industries in the country are telecommunications, IT, and software. The IT factorThe IT industry is a vital part of India’s economy, and in the fiscal year of 2016/2017, it generated about 8 percent of India’s GDP alone – a slight decrease from previous years, when it made up about 10 percent of the country’s economy. Nevertheless, the IT industry is growing, as is evident by its quickly increasing revenue and employment figures. IT includes software development, consulting, software management, and online services, and business process management (BPM). Employee migrationAlthough employment figures in IT, and thus in the services sector, are on the rise, most of the Indian workforce is still employed in agriculture, however, the figures show a trend pointing towards a reversal of this distribution. For now, the majority of Indians still do not live in cities – where IT jobs are generated – but urbanization is on the rise as well.

India White Oil Market size is valued at USD 110.91 Million in 2023 and is anticipated to reach USD 161.52 Million by 2031, growing at a CAGR of 4.8% from 2024 to 2031.

Key Market Drivers: Growing Demand in Cosmetics: The cosmetics and personal care industry is expanding rapidly, with an expected market growth rate of 8-10% annually. White oil is widely used in products like moisturizers and makeup removers, driving its demand in this sector.

Expanding Pharmaceutical Industry: The Indian pharmaceutical sector is projected to grow significantly, with an expected market size of USD 130 Billion by 2030. White oil's applications in creams, ointments, and laxatives make it essential for pharmaceutical manufacturing.

Increased Production Capacities: Major pharmaceutical companies are continuously increasing their production capabilities, which is anticipated to boost the demand for white oil as a key ingredient in various formulations. Versatility Across Industries: White oil's versatility allows its use in multiple applications beyond cosmetics and pharmaceuticals, including food processing and plastics. This broad applicability supports sustained demand across various sectors.

Power EPC Market Outlook

According to our latest research, the global Power EPC market size has reached USD 80.7 billion in 2024, reflecting an increasingly robust demand for integrated engineering, procurement, and construction solutions across the power sector. The market is expected to register a compound annual growth rate (CAGR) of 5.1% from 2025 to 2033, reaching a projected value of USD 127.1 billion by the end of the forecast period. This growth is primarily driven by the accelerating shift towards renewable energy sources, modernization of aging grid infrastructure, and the expanding need for reliable energy in emerging economies. As per our latest research findings, the Power EPC market is poised for significant transformation, shaped by technological advancements, policy shifts, and evolving energy consumption patterns worldwide.

A key growth factor for the Power EPC market is the global transition towards cleaner and more sustainable energy sources. Governments and regulatory bodies across the globe are increasingly enacting stringent emission norms and providing incentives for renewable energy projects, such as solar, wind, and hydroelectric power plants. This policy-driven push has resulted in a surge of investments in renewable projects, which in turn fuels the demand for comprehensive EPC services. Power EPC contractors are playing a pivotal role in bridging the gap between conceptualization and operationalization of these large-scale energy projects, leveraging their expertise to deliver cost-effective, timely, and compliant energy infrastructure. The integration of digital technologies, such as Building Information Modeling (BIM) and advanced project management software, further enhances the efficiency and transparency of EPC processes, making these services indispensable in the current energy landscape.

Another significant driver for the Power EPC market is the ongoing modernization and expansion of transmission and distribution networks. Many countries, particularly in Asia Pacific and Africa, are witnessing rapid urbanization and industrialization, leading to increased electricity demand and the need for resilient power infrastructure. In mature markets like North America and Europe, the focus is on upgrading aging grid systems to accommodate decentralized generation sources and smart grid technologies. This dual trend of expansion in emerging markets and modernization in developed regions creates a sustained pipeline of EPC projects. Moreover, the growing adoption of distributed energy resources and microgrids is prompting utilities and independent power producers to seek specialized EPC services for integrating new technologies and ensuring grid stability.

The Power EPC market is also benefiting from the rising complexity of power projects, which demand multidisciplinary expertise and integrated project delivery. As energy projects grow in scale and sophistication—incorporating hybrid generation systems, battery storage, and advanced control systems—project owners are increasingly turning to EPC contractors for end-to-end solutions. This trend is particularly pronounced in the industrial and commercial sectors, where tailored power solutions are required to meet specific operational and sustainability goals. The ability of EPC firms to manage risk, optimize costs, and ensure regulatory compliance throughout the project lifecycle is becoming a critical differentiator, further accelerating market growth. Strategic partnerships between EPC providers, technology firms, and financial institutions are also fostering innovation and enabling the execution of complex, capital-intensive projects.

Regionally, Asia Pacific continues to dominate the Power EPC market, accounting for the largest share in both capacity additions and project investments. The region’s rapid economic development, coupled with ambitious renewable energy targets in countries like China, India, and Southeast Asian nations, is driving unprecedented demand for EPC services. North America and Europe follow, with significant activity in grid modernization, renewable integration, and the decommissioning of outdated thermal assets. Meanwhile, the Middle East & Africa and Latin America are emerging as high-growth regions, propelled by energy diversification initiatives and infrastructure development programs. Each region presents unique opportunities and challenges, shaping the overall dynamics of the global Power EPC market.