With reference to the Service Sector in India, consider the following statements:

1. The service sector's contribution to India's Gross Value Added (GVA) has increased from 50.6% in FY14 to 55.3% in FY25.

2. The Global Capability Centres (GCCs) in India employ more than 5 million professionals as of FY24.

3. India's services exports growth accelerated to 12.8% during April–November FY25, contributing significantly to the country's external balance.

How many of the above statements is/are correct?

The correct answer is option 2.

Key Points

• The service sector's share in India's GVA has increased from 50.6% in FY14 to 55.3% in FY25, as mentioned in the Economic Survey 2024-25. Hence Statement 1 is correct
• India's Global Capability Centres (GCCs) employ around 1.9 million (19 lakh) professionals as of FY24, not 5 million. Hence Statement 2 is incorrect
• India's services exports growth surged to 12.8% during April–November FY25, playing a key role in strengthening India's external balance. Hence Statement 3 is correct