Rising Importance of Tertiary Sector


 
 
Concept Explanation
 

Rising Importance of Tertiary Sector

Rising Importance of the Tertiary Sectors in Production-

  • First, in any country several services such as hospitals, educational institutions, post and telegraph services, police stations, courts, village administrative offices, municipal corporations, defence, transport, banks, insurance companies, etc. are required. These can be considered as basic services. In a developing country the government has to take responsibility for the provision of these services.
  • Second, the development of agriculture and industry leads to the development of services such as transport, trade, storage and the like, as we have already seen. Greater the development of the primary and secondary sectors, more would be the demand for such service
  • Third, as income levels rise, certain sections of people start demanding many more services like eating out, tourism, shopping, private hospitals, private schools, professional training etc.
  • Fourth, over the past decade or so, certain new services such as those based on information and communication technology have become important and essential.
  •    Service sector in India employs many different kinds of people. At one end there are a limited number of services that employ highly skilled and educated workers. At the other end, there are a very large number of workers engaged in services such as small shopkeepers, repair persons, transport persons, etc.  Hence, only a part of this sector is growing in importance.

     
     


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