Our GDP has the more contribution from service sector.
Primarily India was into agriculture from 1947 to 1991. In the stock market, you hardly see any significance of the agriculture sector because it is still done in an unorganized sector and we hardly find companies in this sector. Industry came after agriculture and it is one of the major components that contribute a lot to the GDP. But here in India, it is services that contribute majorly. When you observe Nifty or Sensex we observe that there is more weightage for companies into the services sector.
Our GDP has the more contribution from service sector.
Agriculture: It contributes 14% of GDP but employs 51% of India’s Population.
Industry: It contributes 27% of GDP but employs 22% of the total workforce.
Services: It contributes 59% of GDP but employs 27% of the total workforce.