The primary take out of the call for AtmaNirbhar Bharat relates to a robust and efficient manufacturing sector in India. It has suffered as the economy had deviated by thrusting the growth of the service sector ahead of manufacturing, while primary sector continued to observe a secular decline in share of GDP. Thus it came as a pleasant surprise that manufacturing having degrowing for last months has now entered the positive trajectory by clocking a growth rate pf 3.5% in October ’20.
The Industrial production that entered in the positive range in the last month ( 0.5% rise in September’20) continued to clock 3.6% growth in October. In the manufacturing sub-segments, the growth is observed in 1) rubber and plastic products (15.5%), 2) pharmaceutical products (12.9%), 3) food products (2.5%), 4) leather and related products (3.4%), 5) Chemical products (9.6%), 6) non-metallic mineral products (3.3%), 7) other manufacturing (10.6 %), 8) fabricated metal products (13.4%), 9) computer, electronic products (10.9%), 10) electrical equipment (20.3%), 11) motor vehicles and trailers (17.7%), 12) other transport (26.6%), 13) machinery and equipment (4.4%), and 14) basic metals (5.6%).
Source: Financial Express
