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‘Tertiary sector is playing a significant role in the development of Indian Economy.' Justify the statement.
Answer:
Points to Remember
Significant role of tertiary sector in the development of Indian Economy:
Answer to be written in exam
The statement that the tertiary sector is playing a significant role in the development of Indian Economy is completely true and can be justified through the following points -
-
Development of basic services:
Basic services such as hospitals, banks, educational institutions, postal and telegraph services etc are highly demanded and are being developed in innovative ways, promoting the development of the tertiary sector which inevitably develops the economy.
For Example: UPI or Unified Payment Interface system is being widely used by the citizens of the country for their day - to - day expenditures.
-
Rise in income levels:
Since the
income levels
of the citizens of the country have started to
rise
, more and more
demand
for
leisure activities
like eating out, tourism, theatres etc is being generated. All of these are part of the
tertiary sector
and their
development
means the
development of the economy
.
-
Development of primary and secondary sectors:
The development of
agriculture
and
related industries
leads to the
demand
and
development
of services such as
transport, trade
and
storage
. These facilities are again a
part
of the
tertiary
sector
.
-
Globalisation:
The
effects
that the
adaptation
of the
globalisation
policy has had on the
Indian
Economy
are
immensely
significant
. People are now
aware
of all the
latest
innovations
happening all around the world and this awareness creates
demand
for that product or service.
- Rise of IT sector: Many new services which are based on information technology , such as internet , communication etc have created a huge demand base and all of them fall under the tertiary sector .
