<P> In fiscal year 2014--15, India was the third - largest producer of raw steel and the largest producer of sponge iron . The industry produced 91.46 million tons of finished steel and 9.7 million tons of pig iron . Most iron and steel in India is produced from iron ore . </P> <P> With strength of over 1.3 million active personnel, India has the third - largest military force and the largest volunteer army . The total budget sanctioned for the Indian military for the financial year 2017 was (US $53.5 billion). Defence spending is expected to rise to US $62 billion by 2022 . </P> <P> The services sector has the largest share of India's GDP, accounting for 57% in 2012, up from 15% in 1950 . It is the seventh - largest services sector by nominal GDP, and third largest when purchasing power is taken into account . The services sector provides employment to 27% of the work force . Information technology and business process outsourcing are among the fastest - growing sectors, having a cumulative growth rate of revenue 33.6% between fiscal years 1997--98 and 2002--03, and contributing to 25% of the country's total exports in 2007--08 . </P> <P> India is the ninth - largest civil aviation market in the world, having a potential of becoming the third - largest aviation market by 2020 . It recorded an air traffic of 163 million passengers in 2013, estimated to be 60 million international passengers by 2017 . The market is estimated to have 800 aircraft by 2020 . In 2015, Boeing projected India's demand for aircraft to touch 1,740, valued at $240 billion, over the next 20 years . This would account for 4.3 per cent of global volumes . According to Airbus, India will be one of the top three aviation markets in the next 20 years . Airbus is expecting an annual growth rate of over 11 per cent for the domestic market over the next ten years, while the combined growth rate for domestic and international routes would be more than 10 per cent . </P>

Sector wise contribution to gdp of india 2017