The Present Condition of the Tertiary Sector in India
The tertiary sector in India is a boon and thus providing employment to millions of people and also escalating the economic growth of the country. The shifting of interest towards the tertiary sector has benefited the Indian economy quite a lot. The contribution of the tertiary sector to the GDP of India was 28.09% in 1960 which rose to 51% in the year 2021. Similarly, employment has also shifted from the primary manufacturing sector to the tertiary sector during these years, and at present, a majority of the Indian population is employed in the tertiary sector.
A shift in the government policies can also be observed which primarily focused on the manufacturing industry but currently shifting towards the tertiary sector. In the last 3-4 decades the GOI has launched many policies and schemes for the growth of the tertiary sector in India, thus leading to make India one of the largest tertiary sector economies in the world.
Tertiary Sector – Meaning, Examples & Potential
The Indian economy is divided into three sectors i.e. Primary, Secondary and Tertiary. A good performance in all these sectors is essential for India’s economic growth. The primary sector basically acts as the raw material supplier while the secondary sector also known as the processing or the manufacturing sector turns the material into finished goods. The tertiary sector provides services to both the primary and secondary sectors of the Economy. The tertiary sector is quite important for the Indian economy as the majority of people in India are employed in this sector.
Table of Content
- What is a Tertiary Sector?
- Tertiary Sector Examples
- What Kind of Industries Comes under the Tertiary Sector?
- Potential of the Tertiary Sector
- The Present Condition of the Tertiary Sector in India
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