manufacturing sector in India

import-substitution

Import Substitution

Import substitution is an aggressive economic policy employed by emerging economies to promote domestic production and self-sufficiency in many sectors. It is also seen as a means to reduce dependency on developed nations. IS seeks to provide added protection to…

January 21, 2014

Overemphasis on services sector

India’s economy is dominated by the service sector which forms the largest share in GDP.  While the service sector contributes 56%, manufacturing sector contributes only 16% to the GDP, as per 2011 data. The share of services has been increasing…