Question

(a) What is the contribution of industries to national economy of India?

Answer 1

Contribution of Industry to National Economy

The total contribution of industry to the GDP is 27% out of which 10% comes from mining, quarrying, electricity and gas. The growth of the manufacturing sector had been 7% in the last decade. Since 2003, the growth rate has been 9 to 10% per annum.

Answer 2

Answer:

Explanation:

Over the last two decades,the share of manufacturing sector has stagnated to 17 percent of the GDP which is required to be increased.

I. The trend of growth rate in manufacturing over the last decade is around 7percent per annum .

ii. Since 2003,manufacturing is once again growing at the rate of 9 to 10 percent.

iii. With proper policies of the government and efforts by the industries to improve productivity,economists predict that manufacturing can achieve its target over the next decade.

iv. The National Manufacturing Competitiveness Council (NMCC) has been set up with this objective.

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