The Service Sector is one of the fastest-growing sectors in India. This sector had registered rapid growth in the past decade and has left behind many other established sectors. It is a matter of great satisfaction that the services sector has been recognized for the first time in the Uruguay Round and in GATS 2000 negotiation as an independent sector. There is considerable promise ahead. This treatise, therefore, examines in detail its various aspects. The treatise talks about the growth prospect in various critical sectors. It is a matter of satisfaction that the government has been giving tremendous support. The author has experience in dealing with commercial matters. He sees great prospects ahead & finds the horizon crimson red. If the trend continues then this poignant sector will go to greater heights and get India her rightful place in the years to come.