Why is tertiary sector is the most important sector in india give ex?
Answers
Tertiary sector is the most important sector in India because this sector provides more services and also pays well. They have enormous number of work for a lot of people or also can be said that they have, almost, enough work for all the people in India. Earlier most of the Indian people worked in primary or agricultural activities but it didn't pay well and economic growth was less. But because of tertiary sector the economic growth of whole country is increasing in a faster rate. In primary sector, services are limited to agricultural work; in secondary it is mostly industrial, manufacturing works; but in tertiary sector there have been different types of work for different person with regard to people's qualification and interest.
Tertiary sector is known as the 'services sector'. It is the economic segment which provides services and final end products to the consumers. As the economy becomes more and more developed it shifts from primary and secondary sector towards tertiary sector.
Tertiary sector is important for the development of India as it needs basic services of Hospitals, schools, courts, police etc which are the responsibility of the government. Demand for services such as transport, trade, storage have increase with the development of primary and secondary sectors.
Liberalization of financial sector provided an environment for faster growth of financial services. The demand for shopping, private schools, private hospitals has also increased as people are becoming more well off so they require more luxurious services and products.