We are presenting here gems selected from the Economic Survey 2013-14, about the Indian industries and their role in Indian economy. Therefore, the fellow students can be sure that the data given below is latest and comes from government sources. We hope that this compilation for Economics Study Material & Notes will be particulaly useful for civil services mains paper IV exam.
Industries in Indian Economy

Before we begin, a brief about the Indian industry scene. Broadly, there are three major industrial economic sectors in India.

  • The primary sector, which mainly extracts raw material. Such as mining and farming industries.
  • The secondary sector, involves refining, construction, and manufacturing.
  • The tertiary sector is concerned with services and distribution of manufactured goods.

<<<<<< Read about role of Agriculture in Indian Economy based on economic survey>>>>>>>

Indian Industrial sector, hence, consists of manufacturing, mining, electricity, and construction. After the economic crisis in 2008, it showed considerable recovery and steady growth for three years but then lost the track after that. This was due to constraints on both supply-side and demand-side. Therefore, Industrial performance in 2013-14 has maintained its lackluster growth for the second successive year.

  • The latest GDP estimates depict that industry grew by 0.4 per cent in 2013-14 after being 1% in the year 2012-13.
    [box type=”shadow” align=”aligncenter” ]The projected 12th Five Year Plan target is 10 per cent growth rate for the manufacturing sector and 5.7 per cent for the mining sector in the remaining three years.[/box]
  • A sector-wise analysis of the industrial performance depicts that the main reason for low performance is- contraction in mining activities and reduced manufacturing output.