Agriculture plays an important, though declining role in the economy. Its share in overall GDP fell from 30% in the early nineties, to below 17.5% in 2006 (graph 2). This is high compared to China and Brazil, at 12% and 5% respectively. Over this period the share of industry has stayed relatively constant, reaching nearly 28% in 2006.
Meanwhile the services sector has grown rapidly (accounting for about 65% of total GDP growth from 2000-2005), to almost 55% of GDP in 2006. The World Bank predicts that the shift towards the service sector will continue at the expense of agriculture, whose share could decline by 30% by 2030.
Despite India’s economic development, over 70% of the population still live in rural areas. Agriculture is the key employer with around 60% of the labour force, down from 70% in the early nineties. This compares with 44% in China (2002) and 21 % in Brazil (2004).
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