This is an era for economic prosperity for India; the Indian economic growth story is spoken about in very favourable tones across the world. With the Gross Domestic Product (GDP) of the country growing at more than 7% since 2014, the International Monetary Fund (IMF) has kept projections for India’s growth in 2016-2017 at 7.5% compared to its global growth forecast at 3.2% during the same period. The manufacturing sector plays and will continue to play a significant role in the India’s economic growth story. According to IBEF, the Indian government is targeting manufacturing contribution to the Indian GDP at 25% by 2025 compared to its present share of 16%.
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