Which sector is the backbone of Indian economy in future?

The secondary sector also contributes to almost 28 percent of the share of GDP. This sector is the backbone of Indian economy and there are more development and growth in the near future.

Which sector is known as backbone of Indian economy and why?

The advent of modern industries not only expand tertiary and secondary sectors by providing jobs to the employee as well as help in modernizing agriculture, which forms the backbone of the Indian economy.

Which sector is best for Indian economy?

Investment Tips: Top 7 sectors to consider during the current scenario

  1. Healthcare Sector. …
  2. Telecom Sector. …
  3. FMCG Sector. …
  4. Agriculture Sector. …
  5. Aviation Sector. …
  6. Banking Sector. …
  7. Automobile Sector.

Which sector is growing fast in India?

The services sector has been the highest growing sector in six years. The Industry sector was the fastest growing sector in one year and the Agriculture sector was the fastest-growing sector in two years.

Sector-wise GDP Growth of India.

Sector Construction
GVA (Rupees in Crore) at constant prices 2017-18 5.22
2018-19 6.34
2019-20 0.98
2020-21 -8.61

Is service sector is backbone of Indian economy?

Agriculture is considered the backbone of Indian economy. … Primary Sector; Secondary Sector ( Manufacturing Sector); Tertiary Sector(Service Sector).

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Which is the backbone of our country?

As we celebrate Independence Day and commemorate the Declaration of Independence of the United States, let’s salute the backbone of our nation – the American Farmer.

Which sector is best for investment?

7 Sectors for Long Term Investment

  • IT (Information Technology): The revival of USA economy is good news for IT sector. …
  • Pharma (Pharmaceuticals) Recently Govt of India has taken certain steps to promote pharma sector. …
  • Housing Finance Companies / NBFC: …
  • Auto – 4 Wheeler. …
  • Infrastructure: …
  • FMCG – Urban Consumption. …
  • Logistics.

Which sector has future India?

India’s manufacturing sector is also developing fast, with world-class companies such as Bharat Forge, Tata Motors, and Mahindra. India’s healthcare industry will grow to over £40 billion in the next three years.

Which sector is best to invest in 2020?

Best stock market sectors for the rest of 2020:

  • Information technology.
  • Health care.
  • Consumer staples.
  • Communication services.
  • Consumer discretionary.
  • Materials.
  • Financials.

Which Pharma share is best in India?

10 Best Pharma Company Stocks To Invest Now In India-2021

  • Sun Pharmaceuticals. …
  • Divis Laboratories. Stock Price: Rs 4, 033. …
  • Dr. Reddy’s Lab. …
  • Cipla Ltd. Stock Price: Rs 904. …
  • Cadila Healthcare. Stock Price: Rs 617. …
  • Lupin. Stock Price: Rs 1,176.45. …
  • Torrent Pharmaceuticals. Stock Price: Rs 2,727. …
  • Abbott India. Stock Price: Rs 16,100.
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