UN body wants India to raise investment in manufacturing
Updated: Apr 22, 2014 02:08:52pm
New Delhi, Apr 22 (KNN) UNIDO has asked India to increase investment in the manufacturing sector so that its share in the overall economy can be enhanced. The recommendation comes ahead of the formation of the new government at the Centre.
Considering that in the Indian economy, agriculture accounts for 50 per cent and services around 30 per cent with manufacturing accounting for the least, it is time that the country invested more in the sector, the United Nations Industrial Development Organisation (UNIDO) said at an industry event here yesterday.
In comparison in the neighbouring China, industry and agriculture account for about 40 per cent each while its services sector contributes a mere 20 per cent to its economy.
In this context, India would need to invest more in manufacturing to boost the economy, the UN agency said, despite the obvious challenges of diversity and geography.
UNIDO is the specialized agency of the United Nations that promotes industrial development for poverty reduction, inclusive globalization and environmental sustainability.
The mandate of the United Nations Industrial Development Organization (UNIDO) is to promote and accelerate inclusive and sustainable industrial development in developing countries and economies in transition.
In recent years, UNIDO has assumed an enhanced role in the global development agenda by focusing its activities on poverty reduction, inclusive globalization and environmental sustainability. The Organization draws on four mutually reinforcing categories of services: technical cooperation, analytical and policy advisory services, standard setting and compliance, and a convening function for knowledge transfer and networking.
UNIDO's vision is a world where economic development is inclusive and sustainable and economic progress is equitable.
The Organization focuses on three main thematic areas: Poverty reduction through productive activities; trade capacity-building; energy and environment. (KNN/ES)
Considering that in the Indian economy, agriculture accounts for 50 per cent and services around 30 per cent with manufacturing accounting for the least, it is time that the country invested more in the sector, the United Nations Industrial Development Organisation (UNIDO) said at an industry event here yesterday.
In comparison in the neighbouring China, industry and agriculture account for about 40 per cent each while its services sector contributes a mere 20 per cent to its economy.
In this context, India would need to invest more in manufacturing to boost the economy, the UN agency said, despite the obvious challenges of diversity and geography.
UNIDO is the specialized agency of the United Nations that promotes industrial development for poverty reduction, inclusive globalization and environmental sustainability.
The mandate of the United Nations Industrial Development Organization (UNIDO) is to promote and accelerate inclusive and sustainable industrial development in developing countries and economies in transition.
In recent years, UNIDO has assumed an enhanced role in the global development agenda by focusing its activities on poverty reduction, inclusive globalization and environmental sustainability. The Organization draws on four mutually reinforcing categories of services: technical cooperation, analytical and policy advisory services, standard setting and compliance, and a convening function for knowledge transfer and networking.
UNIDO's vision is a world where economic development is inclusive and sustainable and economic progress is equitable.
The Organization focuses on three main thematic areas: Poverty reduction through productive activities; trade capacity-building; energy and environment. (KNN/ES)
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