Question

What are included in service sector?

Answer 1

Services such as education, health, transport, business communications, banking and insurance, tourism and entertainment, and gas and electricity are included in the service sector. The service sector has been a major contributor to India’s GDP and to its growth. It is the second largest employer after agriculture. India’s trade in services has increased over time, and services account for the largest share in India’s foreign direct investment (FDI) inflows and outflows. Unlike other countries where economic growth has led to a shift from agriculture to industries, in India, there has been a shift from agriculture to the service sector.