Which sector has been the highest growth in term of output in recent 40 years? Discuss its three characteristics.

During the 1950s and 1960s, the Indian economy depended on the agricultural sector. But in recent 40 years, in terms of output, tertiary sector has contributed significantly.

Tertiary sector activities do not produce any goods but provide services that support the production process. The demand for these activities is ever-increasing. For e.g. demand for basic services like hospitals, banks, postal services, etc. have increased. It has the highest contribution in GDP of the country and employs a large number of people.