The UNIDO [ United Nations Industrial Development Organization] has ranked India 9th in its International Yearbook of Industrial Statistics 2010 . This is a welcome news and rather a surprise considering the country ‘s overall emphasis on the Service Economy in preference to traditional manufacturing economy .
Over the last two decades , the level of industrial manufacturing in our country did come down and the services sector especially IT and Retail as well as the Financial sector had a boom period with double digit growth annually . This also caused a flight of talent from manufacturing to the IT and other sunrise industry sector .
During the sixties the shift started from the Agricultural sector to the Industrial sector and later on with the advent of IT and the Internet , services sector started shining with large export earnings and attended materialism and middle class prosperity . Many traditional industrial sectors like the Tatas , Birlas , Mahindra etc started IT Companies .
In the above scenario , manufacturing did take a back seat but we cannot deny the advantage and process improvements effected in manufacturing using IT applications . ERP and Supply Chain Solutions facilitated reduction in process time and also Time to Market . Therefore , there is obvious synergy which can be leveraged collaboratively along with improvements in the Agricultural sector for an integrated and balanced growth . This will also facilitate an Inclusive Economic Growth in the country .