United Nations has said, India is on the path of becoming a hub for high-tech world manufacturing even as global manufacturing growth is expected to remain low this year.
UN Industrial Development Organisation said this in its quarterly World Manufacturing Production report. It said, world manufacturing output is expected to increase by only 2.8 per cent this year due to weakened financial support for productive activities.
According to the latest GDP data released in India, the manufacturing sector grew 9.1 per cent during April-June this year, a slight decline from 9.3 per cent clocked in January to March.