New Delhi, Dec. 2 -- India's economic development is one of the most remarkable transformations of modern times. Once an agrarian economy,at independence in 1947, a large share of the nation's output and employment came from agriculture and allied sectors,the country has emerged in the 21st century as a global hub for services. By recent estimates, the services sector now accounts for about 54.9 per cent of India's gross value added (GVA) (for the year 2024-25). Industries such as information technology, financial services, and telecommunications have propelled India to the forefront of digital innovation and global outsourcing platforms.

Yet this impressive narrative of structural change hides as many challenges as opportunities. The jo...