Question

Future of indian economic progress in which sector

Answer 1

India has one of the fastest growing service sectors in the world with an annual growth rate above 9% since 2001, which contributed to 57% of GDP in 2012–13. India has become a major exporter of IT services, Business Process Outsourcing (BPO) services, and software services with $154 billion revenue in FY 2017. This is the fastest-growing part of the economy.The IT industry continues to be the largest private-sector employer in India. India is the third-largest start-up hub in the world with over 3,100 technology start-ups in 2014–15. The agricultural sector is the largest employer in India's economy but contributes to a declining share of its GDP (17% in 2013–14). India ranks second worldwide in farm output. The industry (manufacturing) sector has held a steady share of its economic contribution (26% of GDP in 2013–14).The Indian automobile industry is one of the largest in the world with an annual production of 21.48 million vehicles (mostly two and three-wheelers) in 2013–14.India had $600 billion worth of retail market in 2015 and one of world's fastest growing e-commerce markets.

Answer 2

The service sector is growing in India . The employment generation part is not growing its importance in the service sector. This sector employs different types of people with different skill sets. While on the other hand there are only a few services which require the involvement of highly educated and skilled workers. On the other hand are the self-employed people, who, due to lack of opportunity to work, are trying to manage their living.