New Delhi: Contribution from the manufacturing sector to the GDP can cross 22 per cent by 2015 from the current 15 per cent if the Government takes note of key challenges, industry body Ficci said today.
In 1996-97 manufacturing sector had grown at over 15 per cent and above 12 per cent in the previous year. This indicates the growth potential of the sector and if appropriate policies are in place, it can grow at 14 per cent per annum.
The chamber pointed out that despite being the second most populous country, there exists a serious gap between the availability of skilled manpower and the requirement of Indian industry. For instance, the textile and clothing sector will have the highest manpower requirement in the entire manufacturing sector in the next few years.
“Around five million people will be required mainly at the basic skill level in the sector, out of which four million are required for the garment sector only. This will require massive expansion and modernisation of training institutes across the country that can be done with PPP Scheme (Public Private Partnership),” Ficci said.