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Question
The service sector has become very important in India because ______.
Options
it is the largest contributor to India’s GDP
it has attracted significant foreign investment
Both it is the largest contributor to India’s GDP and it has attracted significant foreign investment
None of these
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Solution
The service sector has become very important in India because it is the largest contributor to India’s GDP and it has attracted significant foreign investment.
Explanation:
This is supported by the facts that the service sector forms the backbone of socio-economic development in India, supports agriculture and industry, and has shown phenomenal growth in share of national income. The sector has also attracted foreign capital due to liberalization reforms, technological advancements, increased demand for services, and the outsourcing boom.
