Manufacturing sector lags despite over 13% growth in GVA in Q2FY24

Though this was higher than 12.9% in the first quarter, it was nowhere close to 25% that the Modi government wants it to be

Manufacturing along with construction was one of the sectors that drove the economic growth to more than expected 7.6 per cent in the second quarter of the current financial year. Manufacturing rose 13.9 per cent in the quarter, the highest among various segments in the gross value added (GVA).

However, the headline number of manufacturing masked the lacklustre performance of the main segment of the secondary sector.

The share of manufacturing in gross domestic product (GDP) at current prices was just 13.6 per cent. Though this was higher than 12.9 per cent in the first quarter, it was