New Delhi, March 11
THE United Nations Industrial Development Organisation (UNIDO) Director-General, Mr Carlos Magarinos, has asked the Indian industry to be more competitive through increasing productivity and technological excellence in manufacturing.
He said the country's modest participation in world trade and much lower ability to attract Foreign Direct Investment (FDI) was reflected in its industrial competitive position vis-à-vis other countries.
Mr Magarinos was addressing a seminar on `Industrial Competitiveness' where Business Partnership Programmes between the Federation of Indian Chambers of Commerce and Industry, UNIDO and the Government of India were launched.
Calling attention to the fact that the share of manufacturing in India's economy was a mere 16 per cent compared to 35 per cent in the case of China, he cautioned it would be mistake to believe that the country could achieve high growth rate of eight per cent per annum or above only on the performance and achievements in the services sector.