Indian History

Service Sector

The Service Sector is the third of the three traditional economic sectors. It is also called tertiary sector. The service sector consists of the soft parts of the economy such as insurance, government, tourism, banking, retail, hotels, health, social work, computer services, recreation, media, communications, electricity, gas and water supply, real estate, education, and social services. Currently service sector is contributing near about 60% of GDP of India.

Service sector provides finance, marketing, transport, insurance for the development of the agriculture sector. The expansion of service sector activities boost the secondary sector activities as well. Service sector can play a major role in reducing inequalities in the distribution of income in the economy. In modern times service sector plays an important role in the development of the nation. The main industries, which fall under this category, include hotel industry, entertainment industry, tourism industry etc.