India's transition to service-based economy behind growth surge

India has achieved a progressive growth outlook after the pandemic period, as it was almost over 8 per cent annually between 2021-2024.

- 

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.