India's Strategy for Competing in Labour-Intensive Manufacturing
Thursday, 26 September 2024, 03:38
India's Approach to Labour-Intensive Manufacturing
India's economy has seen slower growth in the manufacturing sector, particularly in labour-intensive areas. With only 11% of Indians engaged in manufacturing, there’s a significant opportunity for improvement. Innovation and policy changes are key to boosting this figure.
Strategies for Improvement
- Enhancing Skill Development: Investment in education and vocational training.
- Attracting Foreign Investment: Creating a conducive environment for international companies.
- Boosting Exports: Focusing on textile and garment sectors for international markets.
Conclusion: The Path Forward
By focusing on these areas, India can reclaim its position as a leader in the global labour-intensive manufacturing market. Adopting a comprehensive approach will not only create jobs but also increase exports significantly.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.