Growth and Efficiency of industry

Growth and Efficiency of industry

The industrial sector is one of the main sectors that contribute in india. The country ranks fourteenth in the factory output in the world. The industrial sector is made up of manufacturing, mining and quarrying, and electricity, water supply, and gas sectors. The industrial sector accounts for around 27.6% of the India and it employs over 17% of the total workforce in the country. The Growth Rate of the Industrial Sector in India came to around 5.2% in 2002- 2003. In this year, within the India , the mining and quarrying sector contributed 4.4%, the electricity, water supply, and gas sector contributed 2.8%, and the manufacturing sector contributed around 5.7%.

The Growth Rate of the Industry Sector in India came to around 6.6% in 2003- 2004 and in this year, the electricity, water supply, and gas sector contributed 4.8%, the mining and quarrying sector contributed 5.3%, and the manufacturing sector contributed 7.1% in India . Industry Growth Rate in India came to 7.4% in 2004- 2005, with the manufacturing sector contributing 8.1%, the mining and quarrying sector contributing 5.8%, and the water supply, electricity, and gas sector contributing 4.3% in India .

Industry Growth Rate in India came to 7.6% in 2005- 2006. In this year, the mining and quarrying sector contributed 0.9%, the manufacturing sector contributed 9.0%, and the water supply, gas, and electricity sector contributed 4.3%. The Growth Rate of the Industrial Sector finally came to 9.8% in 2006- 2007. This shows that Industry Growth Rate in India has been on the rise over the last few years.
The reasons for the rise of Industry Growth Rate in India
The reasons for the increase of Industry Growth Rate in India are that huge amounts of investments are being made in this sector and this has helped the industries to grow. Further the reasons for the rise of the Growth Rate of the Industrial Sector in India are that the consumption of the industrial goods has increased a great deal in the country, which in its turn has boosted the industrial sector. Also the reasons for the increase of Industry Growth Rate in India are that the industrial goods are being exported in huge quantities from the country.
The Indian government must boost the Industrial Sector
Industry Growth Rate in India thus has been registering steady growth over the past few years. This has given a major boost to the Indian economy. The government of India thus must continue to make efforts to boost the industrial sector in the country. For this will in turn help to grow the country's economy.