Manufacturing Industry in India

The ' Indian Manufacturing' sector has the potential to elevate much of the Indian population above poverty by shifting the majority of the workforce out of low-wage agriculture.

Manufacturing sector is the backbone of any economy. It fuels growth, productivity, employment, and strengthens agriculture and service sectors. Astronomical growth in worldwide distribution systems and IT, coupled with opening of trade barriers, has led to stupendous growth of global manufacturing networks, designed to take advantage of low-waged yet efficient work force of India. 'Indian Manufacturing' sector is broadly divided into -

• Capital Goods & Engineering.
• Chemicals, Petroleum, Chemicals & Fertilizers.
• Packaging.
• Consumer non-Durables.
• Electronics , IT Hardware & peripherals.
• Gems & Jewelery.
• Leather & Leather Products.
• Mining.
• Steel & non-Ferrous Metals.
• Textiles & Apparels.
• Water Equipment.

Indian Manufacturing Industry is successfully competing in the global marketplace and registering high growth on YoY basis, but large sections of ' Indian manufacturing' sector still suffers from bottlenecks like -

• Use of primitive technology or under utilization of technology.
• Poor infrastructure.
• Over staffed operations.
• Expensive financing and bureaucracy.

Further, 'Indian Manufacturing' sector must focus on areas like improving the urban infrastructure, ensuring fair competition and access to markets, reduction of import duties, quality improvements in vocational and higher education, increased investment in R&D and support of SMEs. Government leaders, experts, and researchers focusing towards making Indian manufacturing globally competitive and to have a sustained growth, which contributes significantly to GDP growth, employment generation and overall economic development. It also aims to identify factors hampering industrial growth and seeks to redress these factors.

Last Updated on June 13, 2015