Textile sector holding back industry growth in India
07/07/2006
Finance Minister Shri Chidambaram hosted an interactive session to discuss increasing industrial growth in India
According to revised estimates of the Central Statistical Organisation, real GDP growth in India accelerated from 7.5% in 2004-05 to 8.4% in 2005-06, with the services sector continuing to be the major driver of economic activity. An industrial growth rate of 8.7% was propelled by 9% growth in manufacturing activity. The manufacturing sector accounted for over 90% of the overall industrial sector growth
.
Industrial growth in the first four years of the Tenth Plan (2002-2006) averaged 7.3%. Key sectors driving this growth in the Tenth Plan included chemicals, machinery and equipments, transport and auto parts and apparel. Among sectors that performed poorly were textiles, leather and metal products.
According to revised estimates of the Central Statistical Organisation, real GDP growth in India accelerated from 7.5% in 2004-05 to 8.4% in 2005-06, with the services sector continuing to be the major driver of economic activity. An industrial growth rate of 8.7% was propelled by 9% growth in manufacturing activity. The manufacturing sector accounted for over 90% of the overall industrial sector growth
.
Industrial growth in the first four years of the Tenth Plan (2002-2006) averaged 7.3%. Key sectors driving this growth in the Tenth Plan included chemicals, machinery and equipments, transport and auto parts and apparel. Among sectors that performed poorly were textiles, leather and metal products.
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