give reasons for rising importance of teritary sectors in india
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Over the past 30 years, while production has increased in all the 3 sectors , it has increased the most in thetertiary sector.
The reasons for the fast development of the tertiary sector in India are as follows:-
*.The necessity for ‘basicservices’ like hospitals, educational institutions,post and telegraph services, police stations, courts, administrative offices, defense, transport and banking services have increased with the increase in population.
*.The development in the Agricultural and Industrial sectors has increased the need for services such as transportation, storage and trade.
*.As the income of the people increased the demand for services in tourism, retailing, catering and elite education also increased.
*.With higher income people have started traveling long distancesfor work and education, resulting in the need forincreased services in the transport and communication sector.
The reasons for the fast development of the tertiary sector in India are as follows:-
*.The necessity for ‘basicservices’ like hospitals, educational institutions,post and telegraph services, police stations, courts, administrative offices, defense, transport and banking services have increased with the increase in population.
*.The development in the Agricultural and Industrial sectors has increased the need for services such as transportation, storage and trade.
*.As the income of the people increased the demand for services in tourism, retailing, catering and elite education also increased.
*.With higher income people have started traveling long distancesfor work and education, resulting in the need forincreased services in the transport and communication sector.
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So as we know tertiary sector comprises mainly those activities which involve production of intangible assets or services, so on whole it primarily depends on how equipped a country's human capital is.
Now looking for several reasons behind rise of tertiary sector:
1) Weak manufacturing sector due to several historical factors like period between 80s to 90s, and impetus to defence and agricultural sector post second 5-Year Plan.
2) Poor skill set of Indian labour which can't be utilised in manufacturing, and due to lower skill sets required in lower end services sector like construction, transportation,etc, these peoples are getting diverted to lower end of services sector inspite of manufacturing sector.
3) Also policies of pre-1991 era like licensing,regulation,extreme registration requirements,etc. which were volume based restricted growth of secondary sector, and since tertiary sector is primarily value based sector, it remained largely out of ambit of such restrictions, hence gaining an edge over manufacturing sector.
4) Lastly we can't ignore the role of Information Technology boom post 1991 and raise in corresponding skill set of the nation which boosted Indian Economy among the leading ones in the World.
(Your answer ends here, but some additional knowledge.....you can avoid this)
Since, the world is swiftly changing its trend from being labour intensive to automated tech intensive, our services sector, primarily IT sector is most vulnerable to this trend and requires upgradation of its skill set, alongwith promoting manufacturing sector, primarily MSME sector to absorb the learned youths in coming future.
Hope it helps buddy...
Now looking for several reasons behind rise of tertiary sector:
1) Weak manufacturing sector due to several historical factors like period between 80s to 90s, and impetus to defence and agricultural sector post second 5-Year Plan.
2) Poor skill set of Indian labour which can't be utilised in manufacturing, and due to lower skill sets required in lower end services sector like construction, transportation,etc, these peoples are getting diverted to lower end of services sector inspite of manufacturing sector.
3) Also policies of pre-1991 era like licensing,regulation,extreme registration requirements,etc. which were volume based restricted growth of secondary sector, and since tertiary sector is primarily value based sector, it remained largely out of ambit of such restrictions, hence gaining an edge over manufacturing sector.
4) Lastly we can't ignore the role of Information Technology boom post 1991 and raise in corresponding skill set of the nation which boosted Indian Economy among the leading ones in the World.
(Your answer ends here, but some additional knowledge.....you can avoid this)
Since, the world is swiftly changing its trend from being labour intensive to automated tech intensive, our services sector, primarily IT sector is most vulnerable to this trend and requires upgradation of its skill set, alongwith promoting manufacturing sector, primarily MSME sector to absorb the learned youths in coming future.
Hope it helps buddy...
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