Question
Compare and contrast India and China’s sectoral contribution towards GDP in 2003. What does it indicate?

Answer

The sectoral contribution towards GDP in 2003 and 2013 in India and China:
 
2003
2013
 
India
China
India
China
Agriculture
23
15
18
10
Industry
26
53
25
44
Service
51
32
57
46
In 2003, the contribution made by agriculture sector was 23% and 15% in India and China respectively. It confirms that India was an agrarian economy.
The contribution made by secondary sector was in China was 53% which is almost double the contributions made by India i.e. 26%. This indicates that industry sector is far behind in India as compared to China.
In 2003, the contribution made by service sector was 51% and 32% in India and China respectively. It shows that the contribution made by service sector in India was higher.
We can see from the table that in India the main contributing sector is service and in China it is industry sector. It indicates that the structural transformation in both the countries in India and China is different. From an agrarian economy India is directly switching to service sector whereas China is moving to industry as other developing countries are moving on their growth path.
In 2013, the contributions made by agriculture and industry sector have reduced and contribution made by service sector has increased in both countries.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free