If you’re looking to invest in one of these sectors, it is essential to keep yourself updated on the same from time to time. Here we discuss a few sectors that are currently some of the best-performing ones in our country
Technology/IT- From a humble contribution of 1.2% to India’s GDP in 1998, to 7.7% in 2017, the IT sector in India has come a long way. In the last 2 years alone, India’s Information Technology sector grew to more than US$ 165 billion. It also accounted for more than 53% share in the US global services business in the last two years. The current domain that is taking over Indian IT investments is Artificial Intelligence. Most companies are said to increase investment in AI by at least 8% in the coming year. Furthermore, the NITI Aayog is in the process of implementing programs to help businesses leverage AI better.
Tourism and Hospitality - The increase in middle-class population and urbanization also means a boost in the tourism and hospitality sectors. Both domestic and international tourists contribute to the growth of this sector. In the last 4 years, around 15 million jobs have been generated by the tourism industry. It is predicted that by the next decade, the tourism and hospitality industry in India will generatea revenue of nearly US$ 50 billion. Currently, this sector contributes 7.5% to the GDP of India. Initiatives like the e-Visa scheme will further help develop t