What are the major components of the Indian Economy
Explain the major components of the Indian economy and how they contribute to its growth.
- Agriculture: Accounts for around 17-18 percent of India's GDP and employs around half of the country's workforce. It includes crop production, animal husbandry, and fisheries. The government has implemented several policies to improve agricultural productivity and provide support to farmers.
- Industry: Contributes to around 30-31 percent of India's GDP and includes various sectors such as manufacturing, mining, construction, and power. The government has implemented initiatives such as Make in India and Startup India to attract more foreign investment and promote industrial growth.
- Services: Contributes to around 52-53 percent of India's GDP and includes sectors such as IT, banking, tourism, and healthcare. It has been a major contributor to India's economic growth in recent years.
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