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The services sector is the largest sector of India. Gross Value Added (GVA) at current prices for the services sector is estimated at 96.54 lakh crore INR in 2020-21. The services sector accounts for 53.89% of total India’s GVA of 179.15 lakh crore Indian rupees.
Now let’s take a look at the 10 biggest industries in the world in 2021 starting from number 10.
The city of Bangalore is the leading IT exporter and is often compared to the Silicon Valley. Exports form the essence of the IT–ITES industry and earn 77% of the total industry income. As far as national exports are considered, IT industry accounts for 25% of the total national exports.
Textile industry is a booming industry of India with India being one of the largest textile producers of the world. It makes a large contribution to the Indian economy in view of large proportions of its direct and indirect employees and its forex generation capacity.
Pharmaceuticals in India have produced the highest number of billionaires numbering 137. The richest person from this industry segment is Poonawalla with a net worth of INR 88,800 crores. Indian is the largest supplier of generic drugs to the world.
India has some industry leaders in this segment including Infosys, Wipro, TCS and Tech Mahindra that provide diverse kinds of products across different industry segments. 3. FMCG FMCG industry segment in India has produced 59 billionaires and hence stands in the third rank for producing the highest number of billionaires.