International Journal of Applied Research
Vol. 3, Issue 1, Part I (2017)
Service sector- A boon to Indian economy
Service sector also known as tertiary sector is essential for economic growth in any economy including India. It has emerged as the essential-growing sector in the global economy since independence. This sector contributing 52.52 per cent of GDP. During last two decades, the productivity of services has risen. Its respectable share in foreign direct investment (FDI) inflows as well as in total exports makes it the engine of economic growth. Keeping in above backdrop, the present study makes an analysis of service sector in Indian economy. The study confirms that service sector has achieved tremendous growth over the year in Indian economy. Besides, their contributions in GDP, employment and exports are also rising considerably. To maintain and accelerate the growth & contributions of this sector & to develop it as a true engine of economic growth, there is logic & rationale of complementary investments in physical infrastructure as well as in human capital.
How to cite this article:
Himani. Service sector- A boon to Indian economy. International Journal of Applied Research. 2017; 3(1): 642-646.