Why tertiary sector is important?

Tertiary sector has become important in India because : (ii) Demand for services such as transport, trade, storage will increase with the development of primary and secondary sectors. (iii) Demand for tourism, shopping, private schools, private hospitals, etc. increases with the increase in the level of income.Click to see full answer. Similarly, you may ask,…

Tertiary sector has become important in India because : (ii) Demand for services such as transport, trade, storage will increase with the development of primary and secondary sectors. (iii) Demand for tourism, shopping, private schools, private hospitals, etc. increases with the increase in the level of income.Click to see full answer. Similarly, you may ask, what is the importance of the tertiary sector?The importance of the Tertiary sector is rising because of the following reasons. (i) This sector provides basic services such as hospitals, educational institutions, post and telegraph services, police stations, courts, municipal corporations, defence, banks, insurance etc.Also Know, how tertiary sector is important in economic development? It also adds onto the employment generation capacity of the economy. Tertiary sector also produces maximum number of employment with the per capita investment when compared to the primary and the tertiary sector. Thus, tertiary sector is certainly important for the development of other sectors in an economy. Similarly, you may ask, why service sector is important? The service sector makes an important contribution to GDP in most countries, providing jobs, inputs and public services for the economy. Trade in services can improve economic performance and provide a range of traditional and new export opportunities.What is the importance of tertiary sector in Indian economy? Role of tertiary sector in the Indian economy : Basic amenities like education, health care services related with Information Technology, ATM booths, call centres etc. provides employment to educated Indians. (ii) The share of tertiary sectors in GDP is growing day by day.

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