Growth and structural change in the Indian economy: An analysis of pattern, determinants, and outcomes

Soni, S and Subrahmanya, MHB (2020) Growth and structural change in the Indian economy: An analysis of pattern, determinants, and outcomes. In: Economic and Political Weekly, 55 (26). pp. 65-70.

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Abstract

Historically, an economy would undergo structural changes when growing: agriculture's contribution to the gross domestic product would decline steadily, industry's contribution would rise steadily and compensate, and later, the services sector would follow. Contrary to this historical pattern, the services sector has bypassed the industrial sector in India, and it dominates the economy. An empirical analysis of the nature and causes of structural change in the Indian economy shows that the industry and the economy are driven by the services sector, and the sector's growth and dominance is influenced by external factors, such as foreign direct investment. © 2020 Economic and Political Weekly. All rights reserved.

Item Type:	Journal Article
Publication:	Economic and Political Weekly
Publisher:	Economic and Political Weekly
Additional Information:	The copyright for this article belongs to the Economic and Political Weekly.
Department/Centre:	Division of Interdisciplinary Sciences > Management Studies
Date Deposited:	03 Jun 2022 05:46
Last Modified:	11 Dec 2022 04:52
URI:	https://eprints.iisc.ac.in/id/eprint/66317

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