Explain the role of service sector in attracting funds from foreign countries .
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- As many IT's company are involving in Service sectors they attract. other MNC company towards India for Investment purpose thus making money from dollers
- small company in cities making effort for big company to get fund back to India.
etc
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Role of the service sector in attracting funds from foreign countries:
- India's service sector spreads over large areas of employment like business, trade, finance, real estate, insurance, communication, health, social, and various services.
- It is the sector that contributes maximum to the country's economy.
- Foreign trade investments increased due to liberal trade policies and this has resulted in the growth of both outflow and inflow of goods.
- The Make in India campaign has also attracted foreign investors on a large scale.
- The demand for the Indian healthcare industry and IT sector has increased across the world over the span of the last few years, the COVID 19 was a visible example.
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