HINDUSTAN TIMES, NEW DELHI
‘INNOVATIONS, SERVICES DRIVE INDIA’S GROWTH’
Tuesday, January 18, 2011
“JAIPUR: Scott D Johnson, Dean, College of Business, Illinois State University, USA on Monday said that innovations because of quality professional education and booming service sector were the base of India’s high growth story.
Johnson was here for with faculty of JK Lakshmipat University (JKLU) for future collaboration.
In an exclusive interaction with Hindustan Times, Johnson said that India is opening up and 20 years from now it will be different altogether. He also spoke of the booming service sector. “Within service sector financial, IT, Education and Insurance services will dominate the economy. As economy grows, it will be more service oriented and that will demand highly skilled Workforce. Even manufacturing sector will engage number of services to add value,” said Johnson.
“See the global trend, service sector contribution to economy European Union is 72%, in the USA it is 75% whereas service sector constitutes 76% in Japan. Chinese service sector contributes nearly 45% and in India it is around 57%,” he said, adding that driving force for India’s high growth rate (8-9%) was innovations resulting from professional excellence.
According to him, liberalization had set a course of innovations which is really driving the growth.” You take out innovations and economy will be stagnant for 500 years,” he added.
Johnson said that with internationalization of business, talent has been a global phenomena and companies look for talent globally.”
(pdf of original article)
