Economics · Indian Economy
Which of the following statements is true about the service sector in India?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It contributes less than 30% of India's GDP.
- 2It has shown stagnant or declining growth over the past decades.
- 3It primarily focuses on heavy industrial production.
- 4It is the largest contributor to India's Gross Value Added (GVA) but accounts for a lower share of employment than agriculture.✓
Correct answer
It is the largest contributor to India's Gross Value Added (GVA) but accounts for a lower share of employment than agriculture.
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