EXPLAIN WHY SERVICE SECTOR IS GAINING MORE IMPORTANCE IN THE GLOBAL WARMIG
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The growth in global economy as a result of opening up of previously closed markets, developments in the field of logistics and transport, have resulted in the Service sector (Tertiary sector) gaining more importance.
Banking, transport, logistics etc. are major industries coming under the service sector, that have grown manifold in recent years. These can also be viewed as industries which are required to support the Primary (farming, mining fishing) and Secondary sectors (manufacturing).
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