Manufacturing sector in India
Manufacturing sector
is the backbone of any economy which plays a vital role in India’s economic growth. India must strengthen its manufacturing
sector in order to create new employment opportunities and to achieve faster
rates of economic growth. As
we came through various information, we found that India is a young country
with over 60% of population in the working age group of 15 to 59 years. Today,
the manufacturing sector contributes about 15% of India’s GDP.India is basically
agriculture based country, so we need to look into agriculture, how it involves
to improve manufacturing sector, it is important to improve agriculture
efficiency, so that there will be higher flow of jobs to the manufacturing
sector. For manufacturing to grow more, we need supportive infrastructure
environment. We found a society called SIAM-Society of Indian Automobile
Manufacturers is the apex industry body representing 46 vehicle and vehicular
engine manufacturers in India.
There are many societies like this which acts as a major communication between
government and manufacturers.
Indian manufacturing sector still suffers from bottlenecks like
1. Use of primitive technology
2. Poor infrastructure
3. over staffed operation
4. Expensive financing and bureaucracy.
A business survey showed on Monday, Growth in India's manufacturing sector eased to a nine-month low
in August as export orders fell for a second month, underscoring the risks to
the wider economy from Europe's debt crisis. Manufacturing mainly depends on
power, but recently sixteen states in northern India fell into darkness last
month as power grids collapsed, disrupting businesses and economic activity.
So, it is important to keep in mind, Government
must take some initiatives to improve the infrastructure and agriculture sector
to boost manufacturing industries growth.
