Growth of the Manufacturing Sector of Uttarakhand in Comparison with India

Main Article Content

Rajinder Singh
Prashant Kumar
Rahul Sharma

Abstract

The Manufacturing sector is an essential sector for developing economies as well as developed economies. It contributes to every aspect of the economy regarding its contribution to gross domestic product and employment generation. The present study is to find the growth of the manufacturing sector of Uttarakhand in comparison with India overall. The secondary data used in the study was collected from the central statistical office and states economics and statistics departments to estimate manufacturing sectors’ contribution. The Kendall Tau and sen’s estimator are used to find the trend in the manufacturing sector’s contribution to nominal and real gross state domestic product of Uttarakhand and gross domestic product of India. The study shows that the growth of Uttarakhand’s manufacturing sector was higher than India overall in Phase I (base year 2004-05) estimation, while the growth rate of the manufacturing sector of Uttarakhand was lower in Phase II (base year 2011-12) estimation. During the study period, the growth of the manufacturing sector shows a decreasing trend in Uttarakhand’s real and nominal Gross State Domestic Product (GSDP) in Phase I, while it was stable during Phase II compared to India’s gross domestic product, respectively.

Keywords:
Manufacturing sector, GSDP, secondary data, growth

Article Details

How to Cite
Singh, R., Kumar, P., & Sharma, R. (2021). Growth of the Manufacturing Sector of Uttarakhand in Comparison with India. Asian Journal of Economics, Finance and Management, 5(1), 17-25. Retrieved from https://globalpresshub.com/index.php/AJEFM/article/view/1192
Section
Original Research Article

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