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Topic: Manufacturing growth
If India fails to action key reforms, its geopolitical leverage will reduce and it will be forced to ally more closely with the US on less favourable terms.
Labour market deregulation has created job opportunities for labourers. For instance, an average textile firm in India has 240 employees; in Bangladesh, about 800.
In a bid to restart manufacturing in the country, and improve the economy, the government will allow some factories to operate under strict conditions.
Production has plunged the most in almost two decades while the measure of new export orders also fell to the lowest since 2009.
According to the National Statistical Office data, manufacturing sector output declined by 1.2 per cent compared to growth of 2.9 per cent in Januaro 2019.
According to Ravindra Dholakia, new GDP series showed higher growth rate because corporate financial data was used for estimating manufacturing value added.