Manufacturing is the only sector that can create jobs

In the last two decades, the Indian economy has witnessed a transformational change to emerge as one of the fastest growing economies in the world. Economic reforms unveiled in 1991 have brought about a structural shift enabling the private sector to assume a much larger role in the economy. GDP growth has largely been enabled by growth of the services sector. The worry is that India’s manufacturing sector has stagnated at about 16 per cent of GDP, with India’s share in global manufacturing at only 1.8 per cent.

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