( ISSN 2277 - 9809 (online) ISSN 2348 - 9359 (Print) ) New DOI : 10.32804/IRJMSH

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STRUCTURAL TRANSFORMATION OCCURRED IN THE INDIAN MANUFACTURING SECTOR IN RECENT YEARS

    1 Author(s):  DR. MEENAKSHI TIWARI

Vol -  8, Issue- 1 ,         Page(s) : 357 - 369  (2017 ) DOI : https://doi.org/10.32804/IRJMSH

Abstract

As countries develop, they undergo a structural transformation. Structural transformation is the reallocation of economic activity across the broad sectors of agriculture, manufacturing, and services that accompany the process of modern economic growth.Since the industrial revolution, no country has become a major economy without becoming an industrial power. A revival in the manufacturing sector is thus imperative for India to achieve an inclusive and sustainable growth. According to an Indian Labor Report, 300 mn youth will enter the labor force by 2025, and 25% of the world’s workers in the next three years will be Indians. India could benefit economically from this demographic dividend, if it is able to productively employ its people. However huge numbers of Indian youth are not only unemployed but also unemployable. Based on the Census 2011 and NSSO (68th Round) data it is estimated that 104 mn fresh entrants to the workforce will require skill training by 2022 while 298 mn of the existing workforce will require additional skill training over the same time period

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