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The rapid service-led growth experience over the last decade has led credence to the belief that not only has India leapfrogged the phase of manufacturing-led development and set out its own idiosyncratic path of structural transformation, but also that the idea of manufacturing-led growth is obsolete. This could not be further from the truth(Bloomberg)
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To fix the unemployment problem, India must strengthen the manufacturing sector

By Radhicka Kapoor
UPDATED ON NOV 27, 2018 11:07 AM IST
Efforts to reduce the trade deficits must correct the imbalance between domestic absorption and domestic production; and manufacturing-led growth can ensure this
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