| Indian economy is primarily agrarian. Manufacturing | | | | manufacturing goods. The bottlenecks in this |
| sector lends another opportunity for the people | | | | sector affect the economy directly. The overall |
| involved in agriculture to shift to a comparatively | | | | development of the country is hindered because |
| higher income zone. This sector acts as a | | | | of:a. Improper utilization of technology and |
| backbone for the agricultural and service sector. | | | | resourcesb. Inadequate infrastructurec. |
| Globally, the manufacturing networks have | | | | Bureaucracy and expensive financingd. |
| considerably improved and the trade barriers have | | | | Overstaffed functioning of the manufacturing |
| vanished. | | | | units |
| In 1990, after the introduction of liberalization, | | | | The manufacturing associations must mend the |
| privatization and globalization, the manufacturing | | | | aberrations to secure its global market again. The |
| sector has considerably risen in the past decades. | | | | focus must be laid on eliminating these unwanted |
| Globalization has immensely contributed to the | | | | factors by providing quality education, improving |
| Indian manufacturing sector. As this division is | | | | the standards of vocational studies, increasing the |
| critical in improving the efficiency of the Indian | | | | investment quotient in research and development, |
| workforce, it also serves as a potential | | | | ensuring fair competition, improving urban |
| employment sector. | | | | infrastructure and support of SMEs. |
| The manufacturing sectors deal in textiles, | | | | However, the FICCI (Federation of Indian |
| chemicals, drugs, machines, electrical products, | | | | Chambers of Commerce & Industry) survey |
| printing and packaging, automotive components | | | | has predicted the growth of manufacturing sector |
| and several others. The manufacturing sector of | | | | in the quarter of April to June this year. The |
| India has been continuously showing a growth | | | | demands of the manufacturing goods have risen |
| pattern and has extensively contributed in the | | | | in the global market. But the survey also states |
| GDP of India. However, Indian manufacturing | | | | the Chinese manufacturing units like leather, textile |
| goods are getting stiff competition from the | | | | and chemicals are having an edge over the Indian |
| markets of China, Taiwan and Korea. The goods | | | | goods. The largest employment generating sector |
| from these Asian countries are heavily in demand | | | | in India has bleak chances of continuing the |
| globally. The buyers of the low cost export goods | | | | exports and hence, many units are withdrawing |
| have shifted to Chinese products. Even the | | | | themselves from the export market. Therefore, |
| domestic markets are also concentrating on the | | | | FICCI warns about the inconsistency in the |
| cheap Chinese goods. | | | | growth of manufacturing units and calls for an |
| India is not at par with the global standards of the | | | | immediate policy action. |