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  • ‘Tertiary sector is playing a significant role in the development of Indian Economy’. Justify the statement.Read more on Sarthaks.com - https://www.sarthaks.com/972412/tertiary-sector-playing-significant-role-development-indian-economy-justify-stateme

‘Tertiary sector is playing a significant role in the development of Indian Economy’. Justify the statement.Read more on Sarthaks.com - https://www.sarthaks.com/972412/tertiary-sector-playing-significant-role-development-indian-economy-justify-statement

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(i) Basic services: Services such as hospitals, educational institutions, post and telegraph services, transport, banks, insurance companies, are in this group. 
(ii) Development of primary and secondary sector: The development of agriculture and industry leads to the development of services such as transport, trade and storage. 
(iii) Rise in income levels: As income levels rise, certain sections of people start demanding many more services like eating out, tourism, shopping, private hospitals, private schools and professional training centres. 
(iv) Rise in information technology: Over the past decade or so, certain new services, such as those based on information and communication technology have become important and essential. 
(v) Globalization: Due to globalization, people have become aware of new services and activities, and communication because of which the tertiary sector has gained importance

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Deependra Verma

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