The growth rate of manufacturing sector in a country truly reflects its economic potentiality.
Most of the developed countries are strong enough in their manufacturing sector.
Though the services sector in India has brought faster economic success, still the manufacturing sector plays an important role on the ground of sustainability.
In India, though the manufacturing sector is growing at a faster pace still it has failed to some extent with regards to its percentage share in the total GDP.
The growth rate of manufacturing sector in the country has reached at a two-digit percentage growth in the year 2006-07 from April-August.
The following diagram shows the growth rate of manufacturing sector in the recent years.
Both Government as well as the private sectors has come forward for the development of the manufacturing sector of the country. More investments are being proposed in the sector particularly in the growth rate of capital goods, consumer durables, and some non-durable goods.
The coming budget 2007-08 is to emphasize on the manufacturing sector in India’s Economy for sustaining its growth and achieving development goals.
