Explain why the territory sector has become the most important factor in the past few years?

Dear Student,

 It is Tertiary sector not territory

Service sector has become important over the past few years because of the following:

Service sector can be considered as the lifeline for other two sectors of the Indian economy as they they help in the functioning of both primary and secondary sectors. Services like banking, transportation, insurance are required for the successful functioning of other two sectors.

a. The importance  and contribution of service sector has grown significantly because of increased demands of services like banking,education, transportation, medical which are considered as basic essential service
b. Development in agriculture and industry have also increased the importance of service sector.
c. Rise in income levels which has resulted in increase demand for services like eating joints, private hospitals,shopping, tourism etc
d. Also because of rising demand for IT services, which today has become the buzzword and imperative for country's growth.



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