Question

what is desired growth and present position of industry in GDP ​

Answer 1

(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).

Answer 2

The desired growth over the next few years is expected to be about 12%.

The present position of industry is between 9-10 percent

Explanation:

• The contribution of the industrial sector to the GDP of the country comes from mining, quarrying, gas and electricity which is around 10%. The total GDP of the country is at is at 27%
• There has been over 7% growth increase from the manufacturing sector in the country. The annual growth rate since the last couple of years has been between  9 to 10%.
• Agriculture sector in the country is a major contributor to the GDP of the country. It is expected that by putting in more efforts and inputs the country should be able to achieve a GDP of 12% in the coming years.

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