India ranked 6th in top 10 largest manufacturers list: UN report
A UNIDO report ranked India sixth among the world’s 10 largest manufacturing countries, up by three positions.business Updated: Apr 02, 2016 21:04 IST
A UNIDO report ranked India sixth among the world’s 10 largest manufacturing countries, up by three positions.
India previously held the 9th rank.
The Yearbook, published by the United Nations Industrial Development Organization (UNIDO), found that in India, the Manufacturing Value Added (MVA) grew by 7.6% in 2015 compared to the previous year.
It also said that the quarterly index of industrial production (IIP) shows 1% growth of manufacturing output in the fourth quarter of 2015 compared to the same period of the previous year.
“India is now the sixth largest manufacturer in the world,” the report said.
The report also said the global growth rate of manufacturing production has slowed to 2.8% in 2015.
“This slowdown could be due to reduced manufacturing growth rates recorded by major developing and emerging economies,” the report said.
China tops the list of 10-top industrial producers followed by the US, Japan, Germany and Korea. Indonesia was placed at the bottom of the list.