Service Sector in India since 1980s: Pattern and Growth Analysis
Journal Title: Scholars Journal of Arts, Humanities and Social Sciences - Year 2014, Vol 2, Issue 2
Abstract
Abstract: India is a developing country. The economy has three sectors viz. primary sector, secondary sector and tertiary sector or service sector. One of the most significant sectors of the Indian economy is the Indian Services sector. This sector is contributing nearly 59% of the GDP in 2012-13. In the last few years i.e. between 2002-03 and 2012-13 this sector has played an increasingly dominant role in the economy. GDP generates from three sectors: Primary Sector (PS), Secondary Sector (SS) and Tertiary Sector (TS). The contribution of these sectors in GDP has been changing during 1980/81-2012/13. TS has played a dominant role in the Indian economy at the cost of the PS during the post reform period. The growth rate of services sector in India is faster than any other sectors. Now GDP growth is dominated by service-led growth during the reform period. One reason for the growth in the services sector in India is the liberalization in the regulatory framework, which leads to innovation and higher exports from the services sector. Keywords: Indian economy, Primary Sector, GDP.
Authors and Affiliations
Debjani Mitra (Sarkar), Sudipta Sarkar
Keywords
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