manishsinghon
Manish Singh
Hi guys,
Many of our Asian neighbours have recorded big jumps in industrial growth, with Singapore leading the pack at 18.9 per cent. But in India industrial growth continues to lag behind GDP growth even in a global recovery.
Now, the phrase jobless growth does not mean no new jobs whatsoever. It simply means that jobs grow proportionately less than GDP. Similarly, industryless growth does not mean no industrial growth at all. It means industry is growing more slowly than GDP.
Instead of being the locomotive of growth, as in most developing countries, it has in India become a passenger that has to be pulled forward by the services sector.
Please share your views…
Many of our Asian neighbours have recorded big jumps in industrial growth, with Singapore leading the pack at 18.9 per cent. But in India industrial growth continues to lag behind GDP growth even in a global recovery.
Now, the phrase jobless growth does not mean no new jobs whatsoever. It simply means that jobs grow proportionately less than GDP. Similarly, industryless growth does not mean no industrial growth at all. It means industry is growing more slowly than GDP.
Instead of being the locomotive of growth, as in most developing countries, it has in India become a passenger that has to be pulled forward by the services sector.
Please share your views…