Great Lakes Institute of Management elaborates six focus areas for the government to ensure sustainable growth of the manufacturing sector in the country
Workers assemble mobile phones at a Dixon Technologies factory in Noida, Uttar Pradesh, India. Dixon boasts a market value of more than $2.5 billion and the capacity to produce about 50 million smartphones in a year.
Image: Anindito Mukherjee/Bloomberg via Getty Images​
Agriculture, education and manufacturing sectors in an economy create wealth for human prosperity in the form of farm produce for consumption, intellectual output for innovative creation and physical product for comfort, respectively. The three are interwoven and each need a nudge today when the call for a boost to the economy of India has become paramount.
The manufacturing sector in India continues to have a low share of around 15 percent in the GDP. There is no better time than now to accelerate the five key growth drivers already defined in the National manufacturing policy of India: having a 25 percent share of manufacturing sector in India’s GDP, creating 100 million jobs, providing depth to manufacturing, enhancing global competitiveness and ensuring environmental sustainability.