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Consider the following statements
Nearly two third of India's GDP is produced by manufacturing and service sector
Growth in manufacturing sector has a complementary effect on service sector
Wholesaling and retailing are components of both the manufacturing sector as well as service sector
Which among the above statements is/are correct?
1 and 2 Only
1, 2 and 3
2 and 3 Only
1 and 3 Only
The services sector's contribution to GDP has risen from 45 percent to 55 percent while manufacturing has remained largely stagnant at 15 percent in 2017 and 17 percent in 2022. $2.5 trillion with a 17 percent share in GDP), which is both a necessity and an opportunity for India to shine.
Growth in manufacturing sector has a complementary effect on service sector because Services may involve the transport, distribution and sale of goods from producer to a consumer, as may happen in wholesaling and retailing, or may involve the provision of a service, such as in pest control or entertainment. The goods may be transformed in the process of providing the service, as happens in the restaurant industry. However, the focus is on people interacting with people and serving the customer rather than transforming physical goods.
In the supply chain industry, wholesale and retail are two major components of the distribution process. When a company manufactures any products it is first sold in bulk quantity to the wholesaler, who then sells it to the retailer and further the retailer sells it to the ultimate customers.
Hence only statements 2&3 are correct.
By: Abhipedia ProfileResourcesReport error
Reetika Gupta
Manufacturing and services do contribute to more than 2/3 of GDP. Agriculture contributes less than
Amanpreet Singh
A and D same options
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