Yojana Magazine: Issue April 2015

Manufacturing industry is of significant importance to the development of any economy. Developing countries like India largely depend on manufacturing industry for growth and employment. Indian economy which has traditionally been agriculture based, is taking big leaps towards promoting manufacturing which constitutes 16 percent of GDP in India. But its contribution to employment sector and growth is well below its true potential. Restrictive and rigid labour laws, abundance of unskilled workforce over skilled workforce, lack of technology innovations are some the factors contributing to this.

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Courtesy: Yojana Magazine