How automation could impact Make in India4 min read 24 Nov 2015, 02:41 AM IST
Given the rapid changes happening in manufacturing, we should be cognizant that manufacturing by itself is no panacea for our challenges of economic and job market growth
Whether you look at the UK, the US and Germany, or Japan, Taiwan and South Korea, no country has climbed the economic ladder to prosperity without many years of manufacturing-driven growth. The factory allows people to shift from cultivating land to industrial activities that are much more productive, and this results in an increase in value-added that contributes to the prosperity of the country and its people. Manufacturing also generates a large number of related and auxiliary jobs across the value chain. This is the reason that, for years now, Indian policymakers have been concerned about the decline in manufacturing which accounts for only 15% of India’s gross domestic product.
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