Indian Economy: Sectors and their Components

The division of the Indian economy into three sectors, along with their respective components, is a common way of categorizing and analyzing economic activities. This division provides insights into the structure and composition of the economy. Here's a breakdown of the sectors and their components in the Indian economy:

1. Agriculture, Forestry, and Fishing Sector:
• Crops: This includes the cultivation of various crops such as rice, wheat, sugarcane, cotton, and other agricultural products.
• Livestock: It covers activities related to raising and breeding livestock, including cattle, poultry, and other animals.
• Forestry and Logging: This sector involves activities related to forestry, logging, and the production of timber and other forest products.
• Fishing and Aquaculture: This component includes activities related to fishing in both inland and marine waters, as well as aquaculture or fish farming.
2. Industry Sector:
• Mining and Quarrying: This component encompasses the extraction of minerals, ores, and other geological resources from the earth.
• Manufacturing: It includes the production of a wide range of goods, from food products and beverages to textiles, machinery, and equipment.
• Electricity, Gas, Water Supply, and Other Utility Services: This component covers the generation and distribution of electricity, gas, and the supply of water. It also includes other utility services.
• Construction: Activities related to building and construction projects, infrastructure development, and real estate construction are part of this component.
3. Services Sector:
• Trade, Repair, Hotels, and Restaurants: This includes wholesale and retail trade, repair services, and the hospitality industry, including hotels and restaurants.
• Transport, Storage, Communication, and Services Related to Broadcasting: This component covers transportation (railways, road, water, and air), storage services, communication services, and broadcasting.
• Financial, Real Estate, and Professional Services: It encompasses financial services, real estate activities, and professional services such as legal, accounting, and consulting services.
• Community, Social, and Personal Services: This includes public administration, defense, and other social services.
• Other Services: Various other services, not classified in the above categories, are included in this component.

The division of the economy into these sectors helps in understanding the relative importance of different economic activities and their contributions to the overall GDP. It also allows policymakers and analysts to track changes in the structure of the economy over time.

As It mentioned, at 2011-12 prices, the agriculture and allied sector contributes approximately 15 percent to the Indian GDP, the industry sector contributes around 31 percent, and the services sector constitutes the majority at about 54 percent. These proportions can vary over time as the economy evolves and diversifies.