What are the Main Sectors of the Indian Economy?
By BYJU'S Exam Prep
Updated on: November 9th, 2023
The Main Sectors of the Indian economy are Primary, Secondary, and Tertiary. The Indian economy is split into organized and unorganized sectors in terms of operations. In contrast, ownership is split between the public and private sectors. India’s economy is a mixed, developing social market economy with middle-income levels.
Table of content
Main Sectors of the Indian Economy
By nominal GDP, the Indian Economy is the fifth-largest economy in the world, and by purchasing power parity (PPP), it is the third-largest. India ranked 125th by nominal GDP and 142nd by nominal GDP in terms of per capita income, respectively, according to the International Monetary Fund (IMF).
Primary Sector
In India, the primary sector is a sector that is largely dependent on the natural resources available to produce goods and carry out various processes. Services in this sector completely depend on the natural resources available to run daily operations.
Secondary Sector
This industry’s economy depends on natural ingredients to curate the services and products intended and offered for consumption. The secondary sector is beneficial based on the added value to services and products. Prime examples of this category include manufacturing and transportation.
Tertiary Sector
This sector is the largest contributor to India’s GDP. This sector is a service sector and is essential when considering the other two sectors’ development. Similar to the previous sector, it also adds value to products. The tertiary sector employs 23 percent of the workforce currently working in India.
Summary:
What are the Main Sectors of the Indian Economy?
The Primary, Secondary, and Tertiary Economies are the Main Sectors of the Indian Economy. In terms of operations, the Indian economy is divided into organized and unorganized sectors. When it comes to ownership, however, the public and private sectors share it.
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