service sectors to the Indian economy between 1960 and 2000.
Over the whole time period, the significance of agriculture declined steadily while services grew in importance decade by decade. A different patterned emerged for industry, which initially showed a slowly increasing percentage but then rocketed from 1980 onwards.
In 1960, agriculture contributed by far the highest percentage of GDP, peaking at 62%, but it then dropped in steady increments to a low of 12% in 2000. The service sector, on the other hand, had a relatively minor impact on the economy in 1960. This situation changed gradually at first, then its percentage contribution jumping from 28% to 43% between 1980 and 1990. By 2000 it matched the high point reached by agriculture in 1960, showing a reversal in the overall trend.
Industry remained a steady contributor to India’s wealth throughout the period. As a sector, it grew marginally from 16% in 1960 to exactly a quarter in 1980 then remained static for the next two decades with 25%, maintaining a constant share of the overall GDP.
service
sectors to the Indian economy between 1960 and 2000.
Over the whole time period, the significance of agriculture declined
steadily
while services grew in importance decade by decade. A
different
patterned emerged for industry, which
initially
showed
a
slowly
increasing percentage
but
then rocketed from 1980 onwards.
In 1960, agriculture contributed by far the highest percentage of GDP, peaking at 62%,
but
it then dropped in steady increments to a low of 12% in 2000. The service sector,
on the other hand
, had a
relatively
minor impact on the economy in 1960. This situation
changed
gradually
at
first
, then its percentage contribution jumping from 28% to 43% between 1980 and 1990. By 2000 it matched the high point reached by agriculture in 1960, showing a reversal in the
overall
trend.
Industry remained a steady contributor to India’s wealth throughout the period. As a sector, it grew
marginally
from 16% in 1960 to exactly a quarter in 1980 then remained static for the
next
two decades with 25%, maintaining a constant share of the
overall
GDP.