Role of Service Sector Video Lecture | Business Economics for CA Foundation

now let us take up the service sector
when we talk about the service sector it
means it includes business services and
professional services communication
services real estate and related
services distributive services education
energy environment financial services
health tourism transport entertainment
and the list is so long all these forms
are part of a service sector which is
throwing rapidly what is the role being
of service sector in India its share has
increased rapidly from 30 percent to 60
percent employment opportunities
employment providing has also increased
from 17 percent to 27 percent it is you
can say the backbone of all the sectors
agriculture produce cannot be sold to
the final consumer
if the transportation is not there so
transportation services not there or the
marketing service or it cannot be even
grown if the financial services is not
there similarly with the industry few
goods they are not financed the industry
is not financed it is not transported or
it is not marketed well how can you
think that it can reach your consumers
so service sector is the most important
sector it generally happens that when an
economy is growing developing when an
economy is backward which is the primary
sector is the most important sector but
as the economy grows the service sector
and the industrial sector also grows
with it but in our case industrial
sector has taken our back seat and
service sector has surpassed it some
economists say that it is not a very
good friend and it will just come back
to us with a bank that if the industrial
sector will not be developed with the
same speed and same percentage but till
all it is that the service sector is
growing tremendously and slowly and said
steadily industrial sector is also
trying to catch catch up with it
so it provides a supporting system to
all the other sectors its contribution
to exports earlier was just 3 percent
it's contribution in export and has also
increased in the word share earlier it
was in the word share earlier it was 1
percent and now it has increased to 3
percent 3 percent of the total exports
of the world India does it has when we
talk of the in US export Indian export
1/3 share is off service sector in the
total exports and has grown the exports
have grown at a rate of 20 percent over
the years so it clay has it plays a very
important and crucial role in Indian
economy now