MANUFACTURING

Category: Uncategorised
Published on Monday, 20 February 2012 10:03
Written by Administrator
Hits: 21889
 
Manufacturing industry refers to those industries which involve in the manufacturing and processing of items and indulge in either creation of new commodities or in value addition. The manufacturing industry accounts for a significant share of the industrial sector in developed countries. The final products can either serve as a finished good for sale to customers or as intermediate goods used in the production process.

Witnessing a wave of growth, the Indian manufacturing sector is touted to be much more promising in the future. The sector is poised to get more skill-intensive according to industry leaders who foresee India map new heights of progress in every aspect. The country is increasingly getting recognised for high value goods requiring a fair amount of engineering precision and quality. The sector is diversifying due to conditions on the ground that global players are using to their advantage. India ranked second in terms of manufacturing competence, according to report '2010. Growth of the Indian manufacturing sector during the quarter ended March 31, 2011 was 5.1 per cent, according to the report on "World Manufacturing Production Quarter I, 2011" by the United Nations Industrial Development Organization (UNIDO). The manufacturing sector, which accounts for almost 80 per cent of the index, saw its annual growth at 8.1 per cent in 2010-11.

Representative Searches