Question

Evaluate the contribution of the tertiary sector in Gross Domestic Product (GDP) in India.

Answer 1

When it comes to India's GDP, the tertiary sector is a major contributor. The following criteria can be used to assess its contribution:

1. Largest Share in GDP: The tertiary sector is the most important sector in India's economy, accounting for more than half of its GDP.
2. Growth of Services: The rapid expansion of industries like as banking, IT, healthcare, education, tourism, and transportation has contributed to economic prosperity.
3. Employment & Urbanization: As a result of the growth of the service sector, millions of jobs have been generated, drawing more people to cities and raising living standards.