English Study Guide (2022)
On attending a conference, which focused on the role of the services sector in Indian economy I was amazed. The conference gave a very interesting perspective on the role of the service sector in the growth of Indian economy in relation to growth rates in agriculture and industry. The current situation in India is that the growth rate of services has overtaken both agriculture and industry and is now contributing to more than 50% of GDP. The service sector has the highest growth rate and is the least volatile sector. Growth is particularly marked in public services, IT and financial services. In some areas. the growth rate of the service sector is 40-50% due to increased use of mobile technologies. India, therefore, has a service-oriented economy. It does't not have traditional growth models as in China. However, in the process of doing so, it has skipped the manufacturing and has jumped straight from the agriculture stage to the service stage, which is also the main reason for the...
