According to the recent analysis report from the Reserve Bank of India, the
manufacturing sector in India, particularly the textile, iron and steel segments,
maintained the pace of sales growth in the second quarter of 2018-19, compared
with the year-earlier period, thanks to the robust demand conditions. The report
also observes heavy moderation in the sales growth of motor vehicles and other
transport equipment, as well as pharmaceutical and medicine industries.
If the trend continues, then achieving double-digit growth in the manufacturing
sector on sustainable basis is a “doable challenge”, as stated by Amitabh Kant,
CEO, Niti Aayog. But this calls for the required global competitiveness across
various industry sectors which would also need size and scale. Moreover, the
industry has to be a very integral part of the global supply chain.
