give the meaning of tertiary sector how it is becoming more important in india explain
Answers
Answer:
Tertiary sector has become important in India because :
(i) Demand for services such as transport, trade, storage will increase with the development of primary and secondary sectors.
(ii) Demand for tourism, shopping, private schools, private hospitals, etc. increases with the increase in the level of income.
Explanation:
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give the meaning of tertiary sector how it is becoming more important in india explain.
Tertiary sector:-
The activities that help in development of primary and secondary sectors are covered in Tertiary sector.
These activities do not produce goods, but they provide services that support the production process.
Eg:- transport, storage, communication, banking etc.
Tertiary sector has become important in India because :-
① Demand for services such as transport, trade, storage will increase with the development of primary and secondary sectors.
② Demand for tourism, shopping, private schools, private hospitals, etc. increases with the increase in the level of income.
③ The tertiary sector includes service industry and it holds the highest importance among all sectors.
④ The tertiary sector of economy involves the provision of services to business as well as final consumers.
⑤ The tertiary sectors account for 51% of the GDP.