Why is tertiary sector becoming more important in India explain with any three reason?

Question

Answer

Tertiary sector or the service sector composes almost 50% of India's population. The young generation studies hard, get good marks and then simply hunt for a good and secure job. The reasons why this sector is gaining importance can be summed up in following points:

1. The need for tertiary is increasing as there is more need of services like financial institutions, educational institutions etc. in Indian economy.

2. The tertiary sector accounts for most of the national and per capita income of India.

3. The tertiary sector created huge employment even for the uneducated and unskilled workers.

4. The tertiary sector is responsible to distribute its services and goods to different consumers

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Answer

《》The development of agriculture & industry lead to development of services such as transport trade, storage, etc...
《》Over the past decades or so, certain new services such as those based on information & communication technology have become important & essential.....
《》In countries, several basic services like transport, bank, insurance etc are required & government has taken responsibility for provision of these services...
Hope it will help u....:)

Answer

Why is tertiary sector becoming more important in India?

The tertiary sector, also known as the services sector, includes industries such as healthcare, education, retail, tourism, and finance. Over the past few decades, India has experienced substantial growth in this sector. Here are three reasons why the tertiary sector is becoming more important in India:

1. Growing middle class

India's middle class is growing rapidly, and as a result, the demand for services has increased. As people's incomes increase, they tend to spend more on services such as healthcare, education, and entertainment. The growth of the middle class has also led to an increase in demand for luxury goods, which has boosted the retail sector.

2. Globalization

Globalization has opened up new markets for Indian service providers. Many multinational corporations outsource services such as customer support, software development, and financial accounting to India because of its skilled workforce and lower labor costs. This has led to the growth of the IT sector and other service-based industries.

3. Government policies

The Indian government has implemented policies to promote the growth of the services sector. For example, the government has allowed 100% foreign direct investment in many service industries, which has attracted foreign investment and helped the sector grow. The government has also invested in infrastructure such as airports and highways, which has facilitated the growth of the tourism industry.

Conclusion

In conclusion, the growth of the tertiary sector in India can be attributed to a growing middle class, globalization, and government policies. The sector is likely to continue to grow in the coming years as India's economy continues to develop and the demand for services increases.

Answer

Tertiary sector becoming more important in India in the following reasons-
1 the tertiary sector in India provides people job in large quantities
2. in tertiary sectors the activities such as banking transport trading which are very thankful for our economy take place.
3. tertiary sector in India reduces unemployment.
4. the tertiary sector in India is also responsible for the economic growth of our country is it supports the both primary and secondary sectors.

Answer

Tertiary sector is a service sector .
National income increase due to lots of service.
Ex:bank we need education, transport

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