What is the contribution of industry to the national economy of India? -Geography

1 Answer

Answer :

The share of the manufacturing sector is 17% of the GDP out of a total of 27% for the industry. Out of this 10% is for the mining, quarrying, electricity and gas. As compared to East-Asian countries, it is very low where it is about 25% to 35%. Over the last decade, the growth rate in manufacturing is 7% per annum.  The desired growth rate is 12% for the next decade. It had increased to 9% to 10% per annum since 2003. It is expected that due to the inclusion of policy by the government and efforts by the industry to increase production, economists predicted that such measures might increase the manufacturing over the next decade. To fulfil this aspect, National Manufacturing Competitiveness Council (NMCC) has been set up.

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