Syllabus: Paper-IV: General Studies -III (Technology, Economic Development, Bio-diversity, Environment, Security and Disaster Management)
1. Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment
Ease of doing Business
Manufacturing
Facts
- India manufacturing sector has grown by over 7 per cent per year on average in the past three decades and accounts for 16-20 % of India’s GDP.
- Industrial Disputes Act has lowered employment in organized manufacturing by about 25% (World Bank Study)
Global Manufacturing Index
- World Economic Forum released its Global Manufacturing Index and placed India on the 30th position.
- Overall, India is ranked better than its neighbours Sri Lanka (66th), Pakistan (74th) and Bangladesh (80th).
- The report took note of the ‘Make in India’ initiative to transform India into a manufacturing hub and moving towards a more connected economy with an announcement of a $59 billion investment in infrastructure in 2017
