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Indian ECO by Arpit - 7

India's economy is composed of three main sectors: agriculture, industry, and services, with agriculture historically being the backbone despite its declining GDP contribution. The industrial sector, supported by initiatives like 'Make in India', aims to enhance manufacturing, while the services sector, particularly IT and software, has seen rapid growth and job creation. Major cities have emerged as global hubs for innovation and services, highlighting the sector's significance in the economy.

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13 views1 page

Indian ECO by Arpit - 7

India's economy is composed of three main sectors: agriculture, industry, and services, with agriculture historically being the backbone despite its declining GDP contribution. The industrial sector, supported by initiatives like 'Make in India', aims to enhance manufacturing, while the services sector, particularly IT and software, has seen rapid growth and job creation. Major cities have emerged as global hubs for innovation and services, highlighting the sector's significance in the economy.

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riniya9910
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© © All Rights Reserved
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Key Sectors of the Economy (3-4 pages)

India's economy is diverse and consists of three primary sectors: agriculture, industry, and

services. Agriculture has historically been the backbone of the Indian economy, providing

employment to a large portion of the population. However, its contribution to GDP has decreased

significantly over the years. Despite this, the sector remains crucial for food security and rural

livelihoods. Agricultural reforms, such as the Green Revolution, have improved productivity, but

challenges like water scarcity, land fragmentation, and inadequate infrastructure persist.

The industrial sector includes both traditional industries like textiles and new sectors such as

automobiles and information technology. The "Make in India" initiative, launched in 2014, aims

to boost manufacturing in India by encouraging domestic and foreign investment. Despite

challenges, the industrial sector remains central to India's economic aspirations.

The services sector has been the fastest-growing sector in recent decades, driven by IT, software

services, and business outsourcing. The sector has not only contributed significantly to GDP but

also created millions of jobs. In particular, cities like Bengaluru, Hyderabad, and Pune have

become global hubs for IT services and innovation.

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