India Industry Sector

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The India Industry Sector and agricultural sector now comprises of more than half of India's GDP which amounted to 51.16 per cent in 1998-99. The number of Industries in India have multiplied by a large amount in the last few years. The various Sectors in Indian Industry are gaining more and more importance. As India is a developing country the Iron & Steel Industry in India, IT Industry in India, Indian Travel & Tourism Industry, Food and Beverage Industry in India and various other types of industries are coming to the forefront and taking the center stage.

The Indian economy had grown by 5.4 per cent in 2001-02, which included a growth rate of 3.3 percent in the India Industry Sector. While the Indian Industry Sector grew by 3.3 per cent, the various segments in the industry like construction showed a lower growth in 2000-01, whereas, there was a marked improvement in the growth rates of manufacturing (from 4.2 per cent in 1999-2000 to 6.7 per cent in 2000-01) and mining and quarrying (from 2 per cent to 3.3 per cent during the same period). The growth rate of electricity, gas and water supply remained almost unchanged at around 6.2 per cent for both 1999-2000 and 2000-01.

In the India Industry Sector the most striking force has been the IT Industry sector. The Indian software industry has grown at a massive rate from a mere US $ 150 million in 1991-92 to a staggering US $ 5.7 billion (including over $4 billion worth of software exports) in 1999-2000. No other Industry in India has performed this well against the global competition. The IT sector has helped the India Industry Sector to move ahead in leaps and bounds. The BPO industry has also been a pillar of success for the India Industry Sector. As more and more industries come up the future holds good prospects for the India Industry Sector.