India is primarily a service driven economy. However, in order to make transition from an emerging to a mature one, the contribution of industrial sector, especially manufacturing, cannot be ignored. Manufacturing has played significant role in the growth of economic powerhouses, be it the US, UK, Germany, Japan or more recently Asian hubs like China, Taiwan and Korea.
Manufacturing as growth engine
The government of India through its ambitious ‘Make in India’ program, embarked on the journey to make India globally preferred destination for manufacturing. The vision of the program is to increase the share of manufacturing sector in the country’s GDP