Cellular services fuel economy

NEW DELHI: According to the latest Confederation of Indian Industry (CII)-ASCON Services Sector Survey for the period April-June 2003 over April-June 2002, the fastest growing sector has been the cellular services sector, which registered a subscriber growth rate of 115 percent over the period April-June 2003 over April-June 2002. The growth rate in April-June 2002 over April-June 2001 was 164 percent.

The over all growth rate has been 90 percent in April-March 2002-03 over April-March 2001-02.

The Survey also suggests that the present growth rate is expected to continue over the next few months. The Survey however has identified certain constraints towards the growth of this sector.



According to the survey, the services sector has continued its steady growth and is fuelling the economy. Cellular phones, construction industry and hotel industry continued their impressive growth. Out of the eight sectors surveyed, three sectors registered excellent growth of more than 20 percent, four registered high growth between 10-20 percent and one sector recorded negative growth.

The IT industry also maintained a high growth trend. Turnover in hardware registered a growth of 16 percent while it was 12 percent during the last year. Sale of personal computers and software recorded a growth of 12 percent and 20 percent respectively. It is higher compared to the period April-June 2002 over April-June 2001, when sale of personal computers and software stood at 10 percent and 16 percent respectively.

On the exports front also, the scene is encouraging.



The services sector is estimated to grow between seven percent to 7.5 percent this year. This is significant, given the fact that services contribute the largest towards growth of our economy.

(CNS)