what are the contribution of industry to national econmy
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a) The contribution of industries to national economy has not b^n satisfactory for the last two decades. It has stagnated at 17 per cent of GDP out of a total of 27 per cent for the industries which includes 10 per cent of mining, quarrying, electricity and gas.
(b) In comparison to India’s 17 per cent share in the GDP, the manufacturing sector in East-Asian countries have a contribution of 25 to 35 per cent of their GDP.
© The desired growth rate over the next decade is 12 per cent. At present, growth rate is about 9 to 10 per cent and it is expected that we can achieve the growth rate of 12 per cent by some efforts like setting up of the National Manufacturing Competitiveness Council (NMCC).
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(b) In comparison to India’s 17 per cent share in the GDP, the manufacturing sector in East-Asian countries have a contribution of 25 to 35 per cent of their GDP.
© The desired growth rate over the next decade is 12 per cent. At present, growth rate is about 9 to 10 per cent and it is expected that we can achieve the growth rate of 12 per cent by some efforts like setting up of the National Manufacturing Competitiveness Council (NMCC).
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Anvesha111:
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• Industries provide for the production and goods and provision of service.
• Industries generates employment for the majority which help in improving living standard and poverty reduction.
• It ensure export of manufactured goods thereby adding to the country's foreign exchange.
• Industrial sectors adds to country's growth and provide wide variety of choice for consumers.
• It improve country's infrastructure and contribute to the overall development.
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