‘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 -

  1. 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.

  2. 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 .

  3. 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 .

  4. 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.

  5. 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 .
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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.