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Emerging GiantsChina and India in the World Economy$
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Barry Eichengreen, Poonam Gupta, and Rajiv Kumar

Print publication date: 2010

Print ISBN-13: 9780199575077

Published to Oxford Scholarship Online: September 2010

DOI: 10.1093/acprof:oso/9780199575077.001.0001

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What Constrains Indian Manufacturing?

What Constrains Indian Manufacturing?

Chapter:
(p.307) 10 What Constrains Indian Manufacturing?
Source:
Emerging Giants
Author(s):

Poonam Gupta

Rana Hasan

Utsav Kumar

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199575077.003.0010

India has undertaken extensive reforms in its manufacturing sector in the last two decades. However, an acceleration of growth in manufacturing, and a concomitant increase in employment, has eluded India. What might be holding the sector back? Using Annual Survey of Industries data at the three-digit level and difference in estimates this chapter finds that the post-reform performance of the manufacturing sector is heterogeneous across industries. In particular, industries dependent on infrastructure or external finance, and labor-intensive industries have not been able to reap the maximum benefits of reforms. The results point to the importance of infrastructure development and financial sector development for the manufacturing sector's growth to accelerate further. They also emphasize the need to clearly identify and address the factors inhibiting the growth of labor-intensive industries.

Keywords:   delicensing, external finance dependence, infrastructure intensity, labor intensity, manufacturing, reforms

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