The journey till dateSince 1991, India’s services sector has outgrown GDP by nearly 1.25 times, accounting today for almost 60% of GDP (at constant 2004-05 prices). Also, more initiatives to bolster investor sentiment, improve infrastructure and enhance the ease of doing business would be important to drive India’s manufacturing engine to desired levels. India needs to target at least 9-10% real growth in manufacturing to achieve the ambition of double-digit growth in the next decade. Some of this is easier said than done, but pearls don’t lie on the seashore. Moving ahead, India needs to find unique solutions to turbocharge its manufacturing and agricultural sectors in order to realize its double-digit growth aspirations.

Source: Mint June 13, 2016 19:40 UTC