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Growth Trends of Manufacturing Sector
The manufacturing sector grew at an average rate of around 7% per annum during a twenty year period. The share of this sector in the GDP stagnated around 17%. The share of manufacturing in the GDP as well as its own growth rate over the two decades has not been consistent. The share of manufacturing in the year 1980 was 16.3% of GDP. This rose to 17.2% by 1990 and 18.25% by 1996-97. However, it declined in the subsequent years to about 16% by the year 2000. Within this period of two decades while the average growth of manufacturing was 7 per cent, the sector was able to achieve a creditable growth rate of around 9 to 10% in spells, i.e. between 1988-91, 1993-97 and again 2000-2005. Manufacturing growth over the years as the Index of Industrial Production (IIP) is reflected in the following figure.
The manufacturing sector grew at an average rate of around 7% per annum during a twenty year period. The share of this sector in the GDP stagnated around 17%. The share of manufacturing in the GDP as well as its own growth rate over the two decades has not been consistent. The share of manufacturing in the year 1980 was 16.3% of GDP. This rose to 17.2% by 1990 and 18.25% by 1996-97. However, it declined in the subsequent years to about 16% by the year 2000. Within this period of two decades while the average growth of manufacturing was 7 per cent, the sector was able to achieve a creditable growth rate of around 9 to 10% in spells, i.e. between 1988-91, 1993-97 and again 2000-2005. Manufacturing growth over the years as the Index of Industrial Production (IIP) is reflected in the following figure.
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