show how tertiary sector has emerged as largest producing sector in india
Answers
The Tertiary sector has emerged as the largest producing sector in the Indian economy in the last decade because,
(i) Demand for Tertiary sector activities like transport, storage and trade has increased substantially with the development of the Primary and Secondary sectors.
(ii) Increasing requirement of software exports from abroad that creates a boom in call centres.
(iii) With increase in the income levels of the people, demand for tourism, shopping, education and other services has increased.
(iv) Liberalisation of the financial environment has boosted faster growth in financial services.
(v) Basic services of education, healthcare and communications require a large number of people to be engaged in these Tertiary sector activities.
The Tertiary sector of Indian economy has developed as the largest generating sector in India by following the given process:
1. The demand for Tertiary sector enterprises such as storehouse and commerce, transport has raised extensively with the extension of the Primary and Secondary Divisions.
2. The increasing demand for software exports from overseas generates inflation in call centers.
3. With a hike in the wages of people, the demand for shopping, education, tourism, other services has expanded.
4. The faster growth of the financial services was led by the introduction of liberalization.
5. Essential services such as healthcare, education and conferences need a considerable number of people to be occupied in the activities of the Tertiary sector.