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New Delhi, Dec. 27 Amid the prevailing global economic scenario, the services industry has managed to maintain growth momentum, though at a lower rate, according to a FICCI survey. The growth registered in the increase in the number of wireless subscribers, internet subscribers, earnings of the railways through passenger and freight traffic, foreign tourists are some of the categories that have posted a reasonable growth during April-November 2008 as compared to the previous fiscal, said the FICCI survey on services industry.

The report notes that the number of wireless subscribers during April-November grew by almost 50 per cent as compared to 58 per cent during the last fiscal. Internet subscribers numbers too surged, posting a 26 per cent increase as against the 20 per cent, it recorded last year. The highest surge has been in the number of broadband subscribers which jumped almost 87.7 per cent during April-November this year as against 23.6 per cent previous year.

"Although the slowdown is expected to make a further dent in the growth of some segments of the services sector, given its overall contribution of 63 per cent to GDP, the services sector growth is expected to help maintain a healthy GDP growth this fiscal," the chambers has said.

Among the other service industry sectors that continued to grow were railway earnings through passenger traffic which stood at 12.2 per cent, marginally lower compared to the 14 per cent last year. Railway earnings through freight increased to 15.7 percent during this fiscal up to November, up from 14 per cent that it recorded last year. Franchising, exchange earnings through foreign tourists, entertainment and media industry, software services are few of the other sectors that posted between 10-16 per cent growth.

According to the survey the sectors that grew in single digit were cargo movement by roads, air, ports, retail trade amongst others. However, the sectors which saw a negative growth included air passenger traffic, fixed line subscribers, insurance premium and assets mobilised by mutual funds.

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