Describe the structure, composition and extent of Indian Labor.
India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Services are the major source of economic growth, accounting for more than half of India's output with less than one third of its labor force. Slightly more than half of the work force is in agriculture. India, like many developing countries, in the early 1950s embarked on a socialist strategy of state-directed, heavy industry†based industrialization. The strategy was implemented via a series of five-year plans. In the experience of most countries, as the country develops, the workforce shifts initially from the primary to the industrial sector, and only then to the services sector. In contrast, in India, the workforce has shifted from the primary to the services sector, and not to the industry sector.
The following are some of the Indian Labor statistics as per 2008 estimates:
|Population |1,147,995,904 |
|Age structure &nbs ...