Growth and Structural Changes in India's Industrial Sector
International Journal of Economics, Volume 6, Number 2, December 2012, pp. 321-331
11 Pages Posted: 5 Aug 2013
Date Written: December 17, 2012
Structural economists like Colin Clark, Fisher, Kuznets, etc. have empirically demonstrated that growth is brought about by changes in structural composition. Indian economy is also experiencing major changes in its structure in recent decades. The theory of structural transformation has given prime position to the industrial sector and termed it as engine of growth because industrial sector has strongest forward and backward growth linkages, subject to increasing returns for longer duration and greater labour absorption capacity. This paper is an attempt to show structural changes in the industrial sector in recent years.
Keywords: Structural Transformation, Secondary Sector, Industry
JEL Classification: E00, E01, E25, O11
Suggested Citation: Suggested Citation