A Discussion on India’s Manufacturing Sector: Weaknesses and the Way Forward
Journal Title: PRAGATI: Journal of Indian Economy - Year 2017, Vol 4, Issue 1
Abstract
Despite the significant role of the tertiary sector to national growth and employment generation, there is no denying to the importance of the manufacturing sector which has the potential to bring stable and sustainable growth for Indian economy in the long run. However, the industry has not grown at the desired speed and has not generated enough employment opportunities. In light of the critical nature of the manufacturing sector as a contributor to economic growth and development, governmental interventions such as policy level changes and provisioning of incentives and relaxations on starting, sustaining and expanding operations in this sector, have been made. However, the gains have not been commensurate to the push being provided. Thus, it becomes important to explore and understand that the right impetus on the right points. This paper attempts to meet three objectives - to examine the current state of Indian manufacturing sector, to identify the major reasons for the ailing manufacturing sector and to suggest measures in the form of policy prescriptions or reforms which can make a credible and positive difference to the state of manufacturing in India. The three objectives are sequentially discussed and achieved by use of secondary data sources that include existing accessible research studies, governmental and institutional databases and relevant books.
Authors and Affiliations
Deepti Kakar
Keywords
Related Articles
- EP ID EP623264
- DOI 10.17492/pragati.v4i01.9543
- Views 218
- Downloads 0
A Study on the Management of Waste Assets with Special Reference to the Waste Lands in the Select Temples of Tamil Nadu
The management of waste assets is one of the important functions of any business organisation. The maintenance of temples has been rested with the responsible persons who have had religious and god faith. The value of as...
Microfinance as a way of Financial Inclusion: A Study of Cooch Behar District of West Bengal
As a financial intermediary, banks contribute to the economic growth of the country by identifying the entrepreneurs with the best chances of successfully initiating new commercial activities and allocating credit to the...
Economic Growth and Unemployment Rate: An Empirical Study of Indian Economy
Unemployment has been a major problem for India from a long time. The problem of unemployment is a global phenomenon, with international bodies like ILO predicting the rise in unemployment in India in coming years. The s...
The Profitability of Indian Tourism Sector: A Fixed Model Panel Analysis
The current paper tests the applicability of the SCP framework i.e. industrial structure, conduct and performance in the Indian tourism industry. Herfindahl-Hirshman Index was used to understand concentration index for t...
Citizens’ View on Digital Initiatives and e-Readiness: A Case Study for AADHAR Project in Madhya Pradesh
The objective of this study is to understand the initiative of e-Governance in India. The paper examines an essential element for the success of e-Initiates of Government of India, i.e., the e-readiness of people, for th...