India | Services, value added (annual % growth)

Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Services correspond to ISIC divisions 45-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 4. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. Limitations and exceptions: In the services industries, including most of government, value added in constant prices is often imputed from labor inputs, such as real wages or number of employees. In the absence of well defined measures of output, measuring the growth of services remains difficult. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Republic of India
Records
63
Source
India | Services, value added (annual % growth)
1960
1961 4.90166464
1962 5.39081477
1963 5.51606112
1964 5.35196838
1965 2.89010701
1966 3.13535656
1967 3.67412025
1968 4.4171959
1969 4.96113934
1970 4.7281292
1971 3.87723389
1972 3.08609696
1973 3.30072194
1974 3.76513455
1975 6.09882461
1976 4.60195348
1977 4.65068033
1978 6.29602641
1979 2.59334464
1980 3.45005111
1981 5.67664302
1982 7.49528759
1983 6.41267007
1984 6.57613379
1985 7.83198952
1986 8.05021069
1987 6.8808791
1988 7.36289091
1989 8.74602312
1990 5.54961176
1991 5.42777873
1992 5.87550266
1993 7.74914067
1994 5.05222776
1995 9.16808196
1996 6.75589287
1997 8.99602819
1998 8.21449071
1999 12.49494834
2000 5.10563287
2001 6.24816079
2002 6.34846092
2003 7.35118906
2004 8.25922152
2005 9.11763179
2006 7.03832157
2007 7.77804509
2008 6.51991412
2009 8.67646983
2010 7.83566599
2011 5.86400832
2012 8.33367714
2013 7.65999507
2014 9.81059309
2015 9.43824095
2016 8.46306385
2017 6.3430629
2018 7.17191388
2019 6.42950758
2020 -8.226948
2021 8.81306619
2022 9.45888037

India | Services, value added (annual % growth)

Annual growth rate for value added in services based on constant local currency. Aggregates are based on constant 2015 prices, expressed in U.S. dollars. Services correspond to ISIC divisions 45-99. They include value added in wholesale and retail trade (including hotels and restaurants), transport, and government, financial, professional, and personal services such as education, health care, and real estate services. Also included are imputed bank service charges, import duties, and any statistical discrepancies noted by national compilers as well as discrepancies arising from rescaling. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The industrial origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 4. Development relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions. Limitations and exceptions: In the services industries, including most of government, value added in constant prices is often imputed from labor inputs, such as real wages or number of employees. In the absence of well defined measures of output, measuring the growth of services remains difficult. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Republic of India
Records
63
Source