In accordance with the “The Yearbook” published by the United Nations Industrial Development Organization (UNIDO), India has been positioned at 6th place among the world’s 10 largest manufacturing countries.
- The list has been surmounted by China, which was followed by the US, Japan, Germany and Korea. Indonesia was stood at the bottom of the list.
Key Highlights of Report w.r.t. India
- The India’s growth has been upgraded to 3 positions as compared to the previous 9th.
- As per report, the Manufacturing Value Added (MVA) in India enhanced by 7.6% in 2015 in comparison with the previous year.
- Also quarterly index of industrial production (IIP) shows 1% growth of manufacturing output in the fourth quarter of 2015.
While India shows the tremendous growth, on the global front, the growth rate of manufacturing production has slowed to 2.8% in 2015.
- The reason behind this slowdown is due to the reduced manufacturing growth rates in major developing and emerging economies.
About International Yearbook of Industrial Statistics
It is a flagship publication of UNIDO that provides economists, planners, policy makers and business people with worldwide statistics on the current level, structure and trends in the manufacturing sector.
- It is designed to facilitate international comparisons relating to manufacturing activity and industrial development and performance.
- It provides data that can be used to analyze patterns of growth which is needed in long-term trends for better performances.