Finalyst November 2013 Issue November 2013 | Page 11

FINALYST

Agriculture Sector
Industry Sector
Service Sector

NOVEMBER 2013

USA
1.2
19.2
79.6

PRC
10.1
49.4
40.5

INDIA
17.2
23.4
59.4

sector where it has not even attained Why is that India so smoothly man- domestic market before focusing on
puberty. Similarly PRC, for sure aged to make its own nuclear devic- outside world. The service industry
attained world leadership status in es, why is that we are so capable in which is around 60% of total GDP is
industry sector but it missed on agri- space technology? The reason is be- outsourcing based, fluctuation in
cultural and service sector line.
The table given above compares the
bifurcation of these three sectors in
terms % of GDP, with USA which has
very stable distribution of these sec-

tors. It can be easily seen from the
table that how India has totally overlooked the Industry sector has over
dependency on agriculture sector.

cause we had to do it; no other coun- western economies or their policy
try was providing us the required changes regarding outsourcing pushtechnology so we went ahead and es our service sector and thus our
made it indigenously, but why is that GDP into haywire, which is one of the
after so many years India is still over- major reason for recent crunch of
ly dependent on petroleum products economic situation. India has one of

and has not achieved much in non- the largest and world recognized
conventional form of energy? Why markets to invest in, which when fothat India has not made any signifi- cused will give tremendous scope of
cant advancement in technical field growth for our manufacturing and
of electronics & automobile and is infrastructure industry which further

The other reason of this sudden pa- known for poor R&D facilities? The will provide self sufficiency to our
ralysis of Indian economics is over reason is that they were easily availa- service sector.
dependence on the other countries, ble in outside world so we kept imbe it for capital, technology or re- porting them, unless it started
sources. Yes, large imports are prob- hurting us. So in one or other way
lem, but they are not only causing imports also restrain us in developing

The same can be understood from
following flow diagram, Note: it is
just a skeptical flowchart and not an
economical model

current account deficit and currency our own base.
depreciation but they are culprit for
lot more other things.

The role of policymakers majorly reThe Solution again lies in tapping the

volves around maintaining balance
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