The Indian government is taking positive measures to recover the Indian industry from economic slowdown. The following factors will contribute to a faster recovery in the coming year:
- rising generation of electricity
- availability of bank credit
- sustained flow of FDI
- declining prices of crude oil and other inputs
- large domestic market
As compared to previous year’s growth of 8.5 percent, this year until March the industry grew by 2.4 percent. To remain competitive in the global market, however, the industry needs to attain high cost advantage.
More attractive job opportunities have to be offered to the engineers and other skilled personnel so that they remain in the country for the industry to prosper.