What are the major components of India's GDP and how do they contribute to the economy
Discuss the composition of India's GDP and its significance for the nation's economic growth.
- Agriculture: It contributes around 17-18% to the GDP and employs around 50% of the country's population. It is a crucial source of income for rural India.
- Industry: This sector is divided into mining, manufacturing, electricity, gas, and water supply. It contributes around 30% to the GDP and employs around 25% of the workforce. Manufacturing and construction are the largest segments in this sector.
- Services: It is the largest and fastest-growing sector, contributing around 55% to the GDP and employing around 25% of the workforce. It includes IT, banking, tourism, healthcare, and other services.
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