Critical issues in India’sservices-led growth

Most of the developing economies, in the last decade, have undergone a significant structural shift. The share of agriculture in total value added has significantly declined, correspondingly the share of manufacturing and services sector has increased with the share of manufacturing sector growing at a faster pace than that of services
sector. However, India is a unique case in this respect. Most of decline in the agricultural sector in India has been picked up by the services sector and it now accounts for more than 50 per cent of the gross domestic product.