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Research Paper | Statistics | India | Volume 12 Issue 10, October 2023 | Popularity: 5 / 10

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Factors Affecting Growing Service Sector in Indian Economy

Todakar Vasanti, Rutik Khanloskar

Abstract: The research has been undertaken to study the role of service sector in Indian economy also to evaluate the growth of service sector by considering primary and secondary sector. Here attempt is to find factors affecting the growth of service sector. The data has been collected from various secondary source for the time interval 1950-2020. This research reveals that the service sector is a major sector in Indian economy and relationship between IT industry and service sector is positive. Service sector has comparatively high growth rate than agriculture industry. Based on last 20 years data we conclude that service sector has 57% share in Indian economy. This factor is affecting the growth of service sector. By analyzing last70 year of Indian economy growth data, we have predicted the position of service sector growth in upcoming year.

Keywords: Service sector, Indian economy, time Series, economical factor, growth rate of economy, economy growth

Edition: Volume 12 Issue 10, October 2023

Pages: 97 - 100

DOI: https://www.doi.org/10.21275/SR231001115803

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