Question 9GS3GS3
Services constitute 55% of GDP of India while the industrial sector just contributes 27%.
Main Body
Reasons for growth of Services: 1) Rise of the IT industry(72K issue) 2) Stagnation of manufacturing(17%) of GDP 3) English speaking populationexport of BPO services 4) Incentivization by the government post-LPG reformsliberalization of FDI in services, while industry was mainly for MSMEs 5) Demand for office white-collar jobs among India youth 6) Rise of IITs and IIMs leading the
Services Revolutions. Significance of Strong Industrial Base: 1) Large scale employment and labour intensive industries eg: growth job elasticity of GDP is low at 0.1 2) Invocsr is multiplier of capital and export possibilities eg: current multiplier is 2.5 3) Virtuous cycle of industriesIndustrial growthHigher demandHigher incomeJob CreationGDP growth The industrial sector needs to be revived and kickstarted through others like Make in India, Make for World for Atmanirbhar Bharat.
147 words1 paragraphs
Conclusion
The industrial sector needs to be revived and kickstarted through others like Make in India, Make for World for Atmanirbhar Bharat.
21 words
Diagram
Virtuous cycle diagram showing: Industrial growth → Higher demand → Higher income → Job Creation → GDP growth
Topper
ADITYA TALWAR
AIR 2702025
Subject & Paper
GS3GS3
Topic
Economic Development
Services Sector
Service sector growth and IT industry
Writing Stats
168
Total words
1
Paragraphs
analytical
Tone