Agriculture Machinery Market Resreach

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Manufacturing Sector has contributed to 14 -16% of The Indian GDP

·         Over last 20 years manufacturing sector has contributed only 14 –16% of the Indian GDP

·         Exports are the best indicators of success of countries manufacturing and India has shown nominal growth in exports from 0.5 % to 1.7% over last 20 years.

·         Poor perception of India in terms of ease of doing business and lack of proven ability to compete at global scale

·         Performance has been below par compared to other developing economies like Thailand (34%), Malaysia (24%), Indonesia (24%) and Philippines (31%)

·         Number of jobs created by manufacturing sector has also been below par increasing only by 1.8% per year from 37 million to 55 million. Service sector alone cannot address the unemployment concerns in India

 

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