India needs more investment to boost manufacturing: UNIDO

Tags: News
India needs more investment in the manufacturing sector for increasing its contribution to the economic growth, an official of UNIDO said today.

"Of course India has to do a bit more for manufacturing sector," India Representative and Head of the UNIDO Regional Office in India Ayumi Fujino said, while citing China's case where industry and agriculture accounts for 40 per cent each. The services segment contributes just 20 per cent in China.

"In case of India, it's 50 per cent of agriculture, and almost 30-35 per cent services and manufacturing is the smallest. And that I think you (India) need to do little bit more investment," Fujino said on the sidelines of an industry event here.

The United Nations Industrial Development Organisation (UNIDO) is a specialised agency of the United Nations that promotes industrial development for poverty reduction, inclusive globalisation and environmental sustainability.

UNIDO is working in the areas of poverty alleviation, energy & environment and capacity building in India, Fujino said.

"We are aiming at to really promote industrial capacity, particularly manufacturing sector," she said.

When asked about challenges, she said from the prospective of an international development agency, India is full of challenges, but there are opportunities as well.

"In terms of challenges, it's bigger because of vast diversity and geography. All the international agencies are struggling...Some bilateral donors are very much struggling how to find the most effective means for the interventions," she added.

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