The UNIDO’s (United Nations Industrial Development Organization) industrial statistics 2016 says that India has climbed up three positions to become the sixth largest industrial country in the world during 2015. India was in the ninth position in the previous year.
As per the new ranking, China is the largest industrial producer, topping the manufacturing value added (MVA) list pushing the US to the second position for the first time.
UNIDO is the international policy research institution on industrial sector, bringing global developments in the sector. Its Industrial Development Report usually makes a comprehensive coverage of manufacturing sector development in the world.
In the industrial statistics, UNIDO, finds that in India, the Manufacturing Value Added (MVA) grew by 7.6% in 2015 compared to the previous year. the MVA is the index used by the UNIDO to track developments in individual economies.
Though India is one of the largest manufacturing countries, industrial competitiveness of the country is poor. The Industrial Development Report places India at 43rd position in terms of its competitiveness whereas China is placed at fifth. Germany has the highest industrial competitiveness.
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