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How are service sector becoming important

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Answer:

How Tertiary sector has become important in INDIA because :

  • Basic SERVICES like hospitals, education, post and telegraph, courts, etc. are the responsibility of the government in developing countries.

  • Demand for services such as transport, TRADE, STORAGE will increase with the development of primary and secondary sectors.

  • Demand for tourism, shopping, private schools, private hospitals, etc. increases with the increase in the level of income.

  • Rapid growth of services sector also BENEFITED from external demand such as software industry and call centre services.

  • Liberalization of financial sector provided an environment for faster growth of financial services.


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