Indian economy has slowed down during last few years. The overall growth of GDP in 2012-13 was the lowest at 5.0% in last 10 years. Amongst the various constituents of Indian economy, growth of industrial sector has decelerated faster than the overall growth of GDP. The sector grew merely at 2.9% in 2011-12 and at insignificant 1.1% in 2012-13. The growth of manufacturing sector was even lower at 2.7 and 1.0% in last two years. Industrial sector is the mainstay for generating employment, producing surplus for exports and encouraging infrastructure development. Therefore, the poor growth of industrial sector underlines the structural fault lines in growth story of Indian economy.
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