Which sector has emerged as the largest producing sector in the Indian economy in the last decade? Give reasons.
The Tertiary sector has emerged as the largest producing sector in the Indian economy in the last decade because
(i) Demand for Tertiary sector activities like transport, storage and trade has increased substantially with the development of the Primary and Secondary sectors.
(ii) Increasing requirement of software exports from
abroad that creates a boom in call centres.
(iii) With increase in the income levels of the people, demand for tourism, shopping, education and other services has increased.
(iv) Liberalisation of the financial environment has boosted faster growth in financial services.
(v) Basic services of education, healthcare and communications require a large number of people to be engaged in these Tertiary sector activities.