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India on path of becoming pivot for hi-tech manufacturing: UN

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  • India is on the path of becoming a "pivot" for high-tech worldmanufacturing even as global manufacturing growth is expected to remain low in 2016 due to weakened financial support for productive activities, a new UN report said.
  • The quarterly 'World Manufacturing Production report', published by the UN Industrial Development Organisation (UNIDO) said world manufacturing output is expected to increase by only 2.8 per cent in 2016.
  • However, in contrast to recent years, there will be no breakout from the low-growth trap in 2016.
  • According to the latest GDP data released in India, the manufacturing sector grew 9.1 per cent during April-June 2016, a slight decline from the 9.3 per cent clocked in January to March.
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India on path of becoming pivot for hi-tech manufacturing: UN - Times of India
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