The Manufacturing industry of India is the backbone of the economy that strengthens employment, agriculture & the service sectors. The Indian manufacturing industry is an emerging sector and has all the qualities to further enhance the economic development of the country. As targeted by the National Manufacturing Competitiveness Council (NMCC), it is set to contribute 25 per cent to the GDP by 2025 compared to the current share of nearly 16 per cent. The sector contributed 66 per cent to the nation's exports in FY11 and has been strengthening at a CAGR of 20 per cent in the last five years.
India ranks second in the world as per the 2010 Global Manufacturing Competitiveness Index (GMCI) prepared by the US Council on Competitiveness and Deloitte. As per the same source, India would maintain its second rank and continue to dominate the global manufacturing sector even after five years.
Total manufacturing exports in FY11 grew to US$ 168.0 billion from US$ 115.2 billion in FY10. The sector's exports grew at a CAGR of 19.6 per cent during FY03-11.
The top five sub-sectors of manufacturing are food products, basic metals, rubber and petrochemicals, chemicals, and electrical machinery. Together they account for over 66.0 per cent of total revenues in manufacturing.Indian Manufacturing Sector Size: 2.88 mb
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