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.
- 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.
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