The state's service sector which accounts for around 63% of its revenue is mainly based upon Hospitality industry, Tourism, Ayurveda&Medical Services, Pilgrimage, Information technology, Transportation, Financial sector, and Education.[98] Major initiatives under the industrial sector include Cochin Shipyard, Shipbuilding, Oil refinery, Software Industry, Coastal mineral industries,[99] food processing, marine products processing, and Rubber based products.