Service Sector in India

📊 High-Yield Data & Statistical Fact Sheet

Service Sector GVA Contribution	- Accounts for ~54.4% of India's GVA (2022-23).
Service Sector FDI Share	- Largest recipient sector attracting >16% of cumulative FDI inflows.
Service Sector Workforce Share	- Employs ~31% of national workforce (PLFS).
Global Capability Centers (GCCs)	- India hosts ~50% of world's operational GCCs (high-end global R&D and AI hubs).
RERA Thresholds	- Mandatory registration for projects $> 500\text{ sq m}$ or $\ge 8$ apartments. Requires 70% of advance payments in Escrow Account.
Insurance Target	- IRDAI goal: "Insurance for all by 2047". Union List subject.

1. STRUTTING THE INSURANCE & RETAIL FRAMEWORK

IRDAI Regulatory Status	- Statutory regulator formed in 1999 on Malhotra Committee recommendations.
GIC Re Reinsurer	- Sole domestic reinsurer nationalized in 1972.
Bima Sugam Marketplace	- Unified digital marketplace for buying, selling, and claim settlement of insurance policies.
E-Commerce Marketplace FDI	- Facilitator platform — 100% FDI under Automatic Route.
E-Commerce Inventory FDI	- Entity owns inventory — FDI is strictly prohibited.

2. THE SPACE INDUSTRIAL FRAMEWORK & REAL ESTATE

IN-SPACe Agency	- Autonomous single-window node under Dept of Space regulating private space sector activities.
NewSpace India Ltd (NSIL)	- Commercial arm of ISRO executing launch vehicle production & tech transfers.
ISRO Role	- Primary R&D and space exploration body under Department of Space.
Space FDI Satellites	- 100% FDI permitted (74% Automatic, Govt approval above 74%).
Space FDI Launch Vehicles	- 49% FDI permitted under Automatic route.
Space FDI Sub-systems	- 100% FDI permitted under Automatic route for components manufacturing.