IMPACT OF PANDEMIC ON SERVICE SECTOR

Service sector plays important role in Indian economy. This sector contributes 70% in Indian Gross Domestic Product. These industries are servicing people without producing products. These industries uplift the living standards of the people by offering and serving good quality of services. If customer is not satisfied they can complain to the service provide for better and improved service. So there is always a chance for improvement. In services customers are the co-producer of the services. Without customer services cannot be produced and delivered. In today's time covid-19 infectious is spreading not only in India but all over the world. This virus adversely affected the service sector. The cause of the virus transmission is physical contact. So government has announced lockdown and during this lockdown only essential services were allowed to open rest market and industries was locked. Even after unlock period there is no major changes in people movement towards service industries. People try to stay at home to avoid the Corona infection. So service industries are facing issues to serve the customers. Education, banking, tourism, hospitality etc. service industries are beyond of thinking without physical interaction with customers. So they are facing financial losses. To cover this loses some industries like banking, educations etc. are moving towards digitalization but still the circumstances are not in their favor.

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Keywords: GDP, Virus Transmission, Lockdown, Co-Producer, Digitalization.


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