Abstract

A study on the Sectoral Contribution: in the Development of the Indian Economy

Dr. N. Swapna

Volume: 15 Special Issue: 6 2025

Abstract:

The agriculture and industrial sectors are the major sectors to provide the major employment opportunities in India, but the statistics reveal the fact that the service sector is contributing more than 50 per cent of India’s GDP. As India is the sixth largest economy by its nominal Gross Domestic Product and Third largest economy by its Purchasing Power Parity, after the adoption of a new economic policy of Liberalization, Privatization and Globalization in 1991 to overcome acute balance of payment crisis, achieved the annual average growth rate in GDP from 6 per cent to 7 per cent by the end of 20th century. There is major role of all individual sectors to achieve this growth rate and the new economic reforms not only led the growth in the major sectors but also a tremendous change in the different allied sectors like construction, textile, telecommunication and e-commerce etc. There a need to study about the role of individual sector contribution in the development the total GDP of India. The structure and their contribution were developed in the long-term development of the economy. This paper studies about sectoral contribution of all sectors in the development of the Indian Economy since 1991 to 2021. To examine the role of the individual sector for the development of the GDP of India, the relation between the variables to be studied by cointegration vector model. And the individual progress of the variables is studied by the descriptive statistics. This research paper also confines the impact of allied sectors growth in the development of the India’s GDP.

DOI: http://doi.org/10.37648/ijrssh.v15i06.010

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