Salient features of Indian Economy and Structural changes

Ask an older relative what work their parents did and the answer is very often farming. Ask a first-year law student the same question about their own generation and the answer is much more likely to be an office, a shop, or a service of some kind. That shift, repeated across millions of families, is what economists mean by structural change — and it is the fastest way into this topic.

In two minutes

The Indian economy is classically described as a developing, mixed, agrarian economy undergoing structural change — a long-run shift in the share of output and employment away from agriculture and toward industry and, especially, services.

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