You are on page 1of 3

Primary sector,agriculture

The primary sector of the economy involves changing natural resources into primary
products. Most products from this sector are considered raw materials for other
industries. Major businesses in this sector include agriculture, agribusiness, fishing,
forestry and all mining and quarrying industries.

Agriculture in India has a long history dating back to ten thousand years.

Today, India ranks second worldwide in farm output. Agriculture and allied sectors like
forestry, logging and fishing accounted for 16.6% of the GDP in 2007, employed 60% of
the total workforce[1] and despite a steady decline of its share in the GDP, is still the
largest economic sector and plays a significant role in the overall socio-economic
development of India.

Forestry

Forestry is a major government enterprise in India which faces the challenges of


dwindling forest cover area due to overpopulation, farming and environmental factors.

Many forests in the mid-1990s are found in high-rainfall, high-altitude regions, areas to
which access is difficult. About 20 percent of total forestland is in Madhya Pradesh; other
states with significant forests are Orissa, Maharashtra, and Andhra Pradesh (each with
about 9 percent of the national total); Arunachal Pradesh (7 percent); and Uttar Pradesh
(6 percent). The variety of forest vegetation is large: there are 600 species of hardwoods,
sal (Shorea robusta) and teak being the principal economic species.

Fishing

Fish production has increased more than fivefold since India's independence and is a
major industry in the coastal states.

Great potential exists for expanding the nation's fishing industry. India's exclusive
economic zone, stretching 200 nautical miles (370 km) into the Indian Ocean,
encompasses more than 2 million square kilometers. In the mid-1980s, only about 33
percent of that area was being exploited. The potential annual catch from the area has
been estimated at 4.5 million tons. In addition to this marine zone, India has about 14,000
km² of brackish water available for aquaculture, of which only 600 km² were being
farmed in the early 1990s; about 16,000 km² of freshwater lakes, ponds, and swamps; and
nearly 64,000 kilometers of rivers and streams.

Secondry

The secondary sector of the economy includes those economic sectors that create a
finished, usable product:manufacturing and construction.

Mining

Mining is the extraction of valuable minerals or other geological materials from the
earth, usually from an ore body, vein or (coal) seam. Materials recovered by mining
include base metals, precious metals, iron, uranium, coal, diamonds, limestone, oil shale,
rock salt and potash. Any material that cannot be grown through agricultural processes, or
created artificially in a laboratory or factory, is usually mined. Mining in a wider sense
comprises extraction of any non-renewable resource (e.g., petroleum, natural gas, or even
water).

Construction

In the fields of architecture and civil engineering, construction is a process that consists
of the building or assembling of infrastructure. Far from being a single activity, large
scale construction is a feat of multitasking. Normally the job is managed by the project
manager and supervised by the construction manager, design engineer, construction
engineer or project architect.

Tertiary

The tertiary sector is defined by exclusion of the two other sectors.[1] Services are defined
in conventional economic literature as "intangible goods".

The tertiary sector of economy involves the provision of services to businesses as well as
final consumers. 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.

Transport

Transport or transportation is the movement of people and goods from one location to
another. Transport is performed by various modes, such as air, rail, road and water

Banking

Insurance

Insurance is a federal subject in India and has a history dating back to 1818. Life and
general insurance in India is still a nascent sector with huge potential for various global
players with the life insurance premiums accounting to 2.5% of the country's GDP while
general insurance premiums to 0.65% of India's GDP.[1]. The Insurance sector in India has
gone through a number of phases and changes, particularly in the recent years when the
Govt. of India in 1999 opened up the insurance sector by allowing private companies to
solicit insurance and also allowing FDI up to 26%.

You might also like