By 2010, India's manufacturing sector could export goods valued at $100 billion. This growth will fuel the creation of 25 million new jobs, according to a study by the Associated Chambers of Commerce and Industry of India.(ASSOCHAM).
According to Hindu News online, ASSOCHAM's report entitled, "Manufacturing: India's growth locomotive'" states the $100 billion mark is double the present $50 billion value.
Looking at the breakout of job creation, the report concludes that 9-10 million people will be employed in the textile sector which currently employs 35 million.
"Sectors which will have tremendous growth potential to accelerate manufacturing comprise machine tools, auto components, pharmaceuticals and engineering, besides textiles and therefore create ample opportunities for employment", said ASSOCHAM president Anil K. Agarwal in a release.
ASSOCHAM noted that infrastructure improvements will have to be made to remove industry bottlenecks.