How are service sector becoming important
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How Tertiary sector has become important in India because :
- Basic services like hospitals, education, post and telegraph, courts, etc. are the responsibility of the government in developing countries.
- Demand for services such as transport, trade, storage will increase with the development of primary and secondary sectors.
- Demand for tourism, shopping, private schools, private hospitals, etc. increases with the increase in the level of income.
- Rapid growth of services sector also benefited from external demand such as software industry and call centre services.
- Liberalization of financial sector provided an environment for faster growth of financial services.
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