The country has to re-visit the emphasis accorded during the 1980s and 1990s in the manufacturing sector excellence, quality and management for increasing its contribution to the economy, said Pradeep Chandra, state principal secretary - industry and commerce, at a Confederation of Indian Industry (CII) event here today.
"Somewhere along the line, the manufacturing sector seems to have lost its position from being the dominant contributor to the economy of many countries across the globe," he said.
Starting from the 90s, the contribution of the service sector, primarily driven by IT and ITeS, to the gross domestic product (GDP) had been rising in India as is the case with Andhra Pradesh too. He said a country cannot sustain primarily by the service sector in the long-term, and cited the 2008 financial crisis.
"The 2008 crisis saw General Motors and Chrysler getting huge bail-outs from the US government, suggesting the importance of the manufacturing sector to the economy," he said.
