An Inquiry In To The Narration Of Service Sector In India

Abstract

Services sector has a crucial role to play in the process of economic growth. A major part of the inputs in the primary and the secondary sectors is provided by the services' sector. The development strategy in any economy has broadly two basic objectives namely, economic growth and generation of employment. The services sector, which is also known as the tertiary sector, provides the largest percentage of maximum contribution to the gross domestic product as compared to the other two sectors. The shift in the work force from the primary sector to the tertiary sector is greater than that of the primary and to the secondary sector. There is also a greater scope for labour absorption in the services' sector. Therefore, services' sector can be considered as the sector which is a high potentiality for both employment creation and for economic growth. The tertiary sector of an economy (also known as the service sector or the service industry) is one of the three main categories of the sectors of a developed economy, the other two sectors being the secondary sector (manufacturing), and the primary sector(extraction such as mining, agriculture and fishing). Services are defined in conventional economic literature as "intangible goods". According to some economists, the service sector tends to be wealth consuming, whereas manufacturing is wealth producing.. The tertiary sector of an economy involves the provision of Services to businesses as well as to final consumers. Services may involve transport, the distribution and the sale of goods from the producer to a consume might happen in wholesaling and retailing, or might involve the provision of rvice, such as in pest control or in entertainment. Goods may be transformed in process of providing a service, as it happens in the restaurant industry. However, the focus is on people interacting with people and serving customer rather than transforming the physical goods. Since the 1960s, there been 2 substantial shift from the other two namely the primary and the industrial to the tertiary sector in the industrialized countries