Industry, Labour and Employment

Industrial development is crucial for the economic growth of any nation. It is also linked to the modernization of agriculture, development of science and technology, entrepreneurship, self-reliance in defence production, success in international trade, efficient utilization of natural resources, alleviation of poverty and unemployment and increase in per capita income and standard of living of the people. One of the key findings of UNIDO’s Industrial Development Report 2016 is that developing domestic technological capabilities is one of the most important elements to sustain growth. The report also underlines that the share of manufacturing in value addition and employment tends to increase as developing countries starts growing. India has emerged as one of the fastest growing major economies of the world as per the CSO (Central Statistical Office) and the IMF (International Monetary Fund). Government of India has taken policy measures such as ‘Make in India’ for creating conducive environment for industrial growth in the country.