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India's transition to service-based economy behind growth surge
Capital Information
|July 16 Issue
India has achieved a progressive growth outlook after the pandemic period, as it was almost over 8 per cent annually between 2021-2024.
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Over the past three decades, the country had a stable growth rate of 6 per cent annually.
This optimistic growth rate and favourable economic prospects not just lifted millions of people from poverty but also made an economic transition from an agrarian-based economy to a service-sector-focused economy. Unlike some West and East Asian economies, which have initially focused on industrial expansion by drawing labor from the agricultural sector.
This story is from the July 16 Issue edition of Capital Information.
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