The manufacturing sector is often referred to as the backbone of a developingcountry’s economy. This industry is responsible for turning the raw resources of a country into more valuable commodities and products. Hence, it is regarded as the backbone of the socio-economic development of any country.
The manufacturing sector also aids in the development and modernisation of
the country. It helps create several job opportunities and hence, provides
livelihood to the citizens. The additional benefit of this sector is that the good
can also be exported to other countries, thereby providing foreign currency
and foreign investment.
However, despite its relevance to the country and its economy, the Indian
manufacturing industry has remained relatively obscure regarding its
contribution to the national economy. The manufacturing sector has been
growing at around 7% per annum. However, the desired growth rate is a
minimum of 12% per annum. Over the last decade, the contribution of India’s
manufacturing sector to its GDP has remained around 17% every year.
When discussing any sector, the most significant part of it is the employees
who work in it.
The labourers and factory workers of the manufacturing
industry toil hard in their workplace to ensure that the industry keeps moving
forward. Hence, the human resources personnel must ensure that these
labourers are cared for. They should ensure that they are provided the wages
that they deserve.