'Manufacturing on resurgent path'
It was the turn of the manufacturing sector to make its mark much like the IT and the BPO, says Mara.india Updated: Feb 03, 2006 17:16 IST
Manufacturing sector in the country is witnessing a resurgence thanks to the new management culture in the country, Union IT and Communication Minister Dayanidhi Maran said on Friday.
It was the turn of the manufacturing sector to make its mark much like the IT and the BPO, he said.
"The share of manufacturing in national income has shown only a marginal increase from 15.80 per cent in 1991 to 17 per cent in 2003. This should be somewhere in the range of 25 per cent to 30 per cent. This requires manufacturing to keep growing at 12 per cent to 14 per cent in the next decade," he said during the inauguration of the Annual Convention of the Madras Management Association.
He said the country could be a player in the world league in agro-processing, textiles and garments, automobiles and components apart from pharmaceuticals, petrochemical and leather industries.
He hoped India would see greater competitiveness in the small and medium enterprises sector in the coming years.
Maran asked the corporate leaders "to develop a wisdom that takes them beyond vested self-interest and a consciousness that inspires a sense of meaning and higher purpose."
India had become a production base and export hub for a range of products from agricultural goods, automobile components to high end and IT enabled services, Tamil Nadu Governor Surjit Singh Barnala said while delivering the presidential address.
However, the socio-economic system must as a whole find ways of reaching the poor people, he said.