In the Indian economic sector, there is highly inadequate and inappropriate growth in the manufacturing sector, and due to this there is an adverse impact on the employment and poverty status of the country. There is a mismatch in the distribution of the workforce and labour within the industries. The main reason of lack in the manufacturing growth is the large number of people involved in the agrarian sector throughout the length and breadth of the country which involves poor population. There is an urgent need of mechanisation and improvisation within the agriculture sector which would correct the manufacturing status of the country. This would pave ways for people to come out of the agriculture and make them to pursue paths towards the higher incomes.
There is a need for India to look into its manufacturing sector where it would need to look after the strategies involved in creating new opportunities for the people which would lead to growth and development on a large scale. Innovative ideas is the need of the hour where the processed need to be improved which would lead to enhancements without creating harm to the environment. This would aid in the growth of competition in the market which would improve the quality and quantity of the products in the economy. The shortage of resources and infrastructure is required to be met by the manufacturing industry in the country Recent trends within the chemicals, drugs, engineering suggest lofty measures for the scope of the development of global manufacturers.
The innovative technologies and the strategies must be well integrated with the demands of the manufacturing strategies, as this would lead to the positive growth within this sector which would lead to the growth of markets in a healthy manner. The manufacturing sector focusses largely on the technology businesses and the micro, small and large enterprises. These MSME’s are the backbone of the manufacturing sector in the country. They largely ensure competitiveness and also aid in the growth and development of the country’s economy. The promotion and development are the significant areas which are more prevalent in the development countries. Also, innovation holds a lot of significance in the manufacturing sector.
Research and development is also a major expenditure being met by the manufacturing sector industries to bring out to the new innovative designs and developments. It is important that the research processes are carried out in a safe manner which would not create any harm to the workforce as well as the environment. This would pave the ways for the new products and processes which get shaped and introduced into the world markets each day. Opportunities should be well maintained and properly utilised as this would create a huge impact on the economy.
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