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Finance and Economics

Central hub for discussion on Finance & economics

Sudhanshu , Live and let live Oct, 18 2016

We might be losing the race but manufacturing sector is extremely important to Indian Economy


Discusing sector's contribution to the economy and the country's development, its present and its future, the issues and factors involved, the labour and HR issues, the idea of innovative and entrepreneurial setups (like technology startups), and how the sector could be improved.

Rajesh Agarwal , Chief Engineer, Honda Motor Company Oct, 18 2016


There lies an enormous amount of disguised unemployment in the country.Majority of people still are working in primary sector which contributes to only 17 percent of GDP.But the service sector which employs approximately 27 percent of population contributes 57.9 percent to GDP. Manufacturing sector which employs approx 23 percent, contributes 24.2 percent to GDP. Give this a thought.
There lies an enormous amount of disguised unemployment in the country.Majority of people still are working in primary sector which contributes to only 17 percent of GDP.But the service sector which employs approximately 27 percent of population contributes 57.9 percent to GDP. Manufacturing sector


Rajshekhar , student at BITS goa. I am here to learn. Oct, 18 2016


The lure of manufacturing activity is that it creates value added jobs. It does so by employing people within the factory, and many times more outside the factory - in services.

We have a huge population which needs gainful work. We have an economy where 60% of the workers are engaged in little-value added farming, and a large number is unemployed or underemployed, barely making enough money to meet essential needs.

We started out trying to become an industrial economy, but were hugely short on resources. History made us cautious about foreign investments, we did not want an East India Manufacturing Company. We looked for, and got, foreign aid as loans and grants to set up mega (then) units in the public sector. The steel plants, power stations, water management systems, machinery making units, locomotives & rolling stock, roads-ports-rail tracks and so on. The private sector remained starved of funds.

The lure of manufacturing activity is that it creates value added jobs. It does so by employing people within the factory, and many times more outside the factory - in services. We have a huge population which needs gainful work. We have an economy where 60% of the workers are engaged in little-val


K B Singh , IT professional with 33 yrs experience in lea Oct, 19 2016


India become hub of service industry where in intelligence get into the root. Govt have had focus on manufacturing but it did not do that well as it could have but Govt has yet not given up and this focus on manufacturing is must and will help in India in long run.


Vivek Sharma , Pursuing Msc. Physics at IIT D Oct, 18 2016


I have got 3 points to say:

1.) India is going build huge infrastructure(roads, rails, metros, cities, ports, etc.). We are not going import steel and cement from China to build everything. We actually don’t have money to import everything, we need build domestically.

2.) India needs to become self reliant in technology and capital. Manufacturing can bring a lot of money (higher return on investment) and we will invest those extra money in our people. This can help us in achieving our goal.

3.) Many industries don’t become profitable in the West due to higher labor cost. China will slowly move towards efficiency and innovation driven industries. India can start manufacturing what China doesn’t want to manufacture.

I have got 3 points to say:1.) India is going build huge infrastructure(roads, rails, metros, cities, ports, etc.). We are not going import steel and cement from China to build everything. We actually don’t have money to import everything, we need build domestically. 2.) India needs to become self