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Manufacturing Sector contribution marginally down in last three years: Goyal

 

By TIOL News Service

NEW DELHI, JULY 11, 2019: THE growth of India's Manufacturing Gross Value Added (GVA) and Gross Domestic Product (GDP) from the year 2005-06 at constant (2011-12) prices is given below:

 

 

Growth rate (in per cent) of Manufacturing GVA and GDP at constant (2011-12) prices

Year

Growth rate of Manufacturing

Growth rate of GDP

2005-06

9.3

7.9

2006-07

17.8

8.1

2007-08

7.0

7.7

2008-09

4.7

3.1

2009-10

11.0

7.9

2010-11

7.7

8.5

2011-12

3.1

5.2

2012-13

5.5

5.5

2013-14

5.0

6.4

2014-15

7.9

7.4

2015-16

13.1

8.0

2016-17

7.9

8.2

2017-18

5.9

7.2

2018-19

6.9

6.8

Source: National Statistical Office.

The figures for the years 2016-17, 2017-18 and 2018-19 are provisional

As per the latest available estimates of GDP by National Statistical Office, the share of GVA of manufacturing sector in GDP at constant prices at 2011-12 for the last three years is given below:

Share (in per cent) of Manufacturing GVA in GDP at constant prices (2011-12)

 

2016-17

2017-18

2018-19

Share of manufacturing

16.7

16.5

16.5

Source: National Statistical Office.

The figures for the years 2016-17, 2017-18 and 2018-19 are provisional

The Government has been continuously taking steps to boost manufacturing and spur economic growth. It aims at creating a conducive environment by streamlining the existing regulations and processes and eliminating unnecessary requirements and procedures. ‘Make in India' programme aims at making India a global hub for manufacturing, research and innovation and an integral part of the global supply chain. Several steps to boost domestic manufacturing are being taken as part of schemes such as ‘Startup India', ‘Ease of Doing Business', Modified Industrial Infrastructure Upgradation Scheme, Business Reform Action Plan and Intellectual Property Rights (IPR) Policy. Foreign Direct Investment (FDI) policy and procedures have been simplified and liberalized progressively.

This information was given by the Minister of Commerce and Industry, Mr Piyush Goyal, in a written reply in the Lok Sabha yesterday.


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