Manufacturing to chart growth path, says Goyal
Business Standard|August 31, 2024
Commerce and Industry Minister Piyush Goyal said on Friday that manufacturing would determine the direction of India's growth trajectory, adding that India could achieve far more through it.
YASH KUMAR SINGHAL
Manufacturing to chart growth path, says Goyal

Speaking at the Ficci: CEO Roundtable Viksit Bharat India Manufacturing Leaders' Forum, Goyal said that manufacturing had been pivotal to India's development, growing at a similar rate to the country's gross domestic product (GDP) -7-8 per cent. He underscored that manufacturing will be key to realising the vision of a Viksit Bharat (Developed India) by 2047. Goyal noted that while India's GDP is accelerating, manufacturing sector growth remains relatively stagnant, accounting for 15-16 per cent of the GDP ― a figure that has held steady for the past two decades. "This means that despite faster GDP growth, manufacturing remains at the same level," he said.

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