Maharashtra and Gujarat topped among mainstream states in manufacturing emergence, says the Associated Chambers of Commerce and Industry of India (ASSOCHAM). Parameters like number of factories, working capital, net fixed capital formation, fixed capital, finished goods, invested capital and total inputs, were considered to ascertain the states’ performance.
While Maharashtra topped with highest growth in entrepreneurs memorandum (EM) part-II filed by micro, small and medium enterprises (MSMEs), Gujarat performed very well on parameters like change in capacity utilisation, operational ratio, value addition and input cost,” according to the study by the ASSOCHAM Economic Research Bureau titled ‘Manufacturing Excellence and Emergence in India: The state level analysis.’Maharashtra and Gujarat topped among mainstream states in manufacturing emergence, says the Associated Chambers of Commerce and Industry of India (ASSOCHAM). Parameters like number of factories, working capital, net fixed capital formation, fixed capital, finished goods, invested capital and total inputs, were considered to ascertain the states' performance.#
For each state, data was also considered from the annual survey of industries conducted by the ministry of statistics and programme implementation between fiscals 2009-10 and 2014-15, according to an ASSOCHAM press release.
India’s manufacturing sector also faced challenges like competitive cost and technology being offered by countries like Bangladesh, China, Indonesia, Korea, Singapore and Taiwan.
The study also stressed upon the importance of increasing share of manufacturing sector in India’s gross domestic product (GDP) to absorb a young workforce as the bulk of population relies on agriculture for employment.
“The Union Government must address issues relating to poor product quality, infrastructural bottlenecks and inadequate efforts at research and development from a holistic macro perspective as they have collectively taken a toll on India’s manufacturing competitiveness,” said DS Rawat, secretary general of ASSOCHAM while releasing the findings of the study. (DS)
Fibre2Fashion News Desk – India
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