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India's Manufacturing Value Added (MVA) exceeds 10% in 2010 : UNIDO
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Written by Viswanath   
Friday, 04 March 2011

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New Delhi: India is listed as one of the top 10 manufacturers of the world in 2010, according to the International Yearbook of Industrial Statistics 2011 published this week by the United Nations Industrial Development Organization (UNIDO).

Leading developing economies such as Brazil, China and India showed strong performance in economic growth in 2010.  Manufacturing Value Added (MVA) of all three countries grew by more than 10 per cent in 2010.

The MVA of industrialized countries grew by 3.4 per cent in 2010. However, developing economies were the major force of world industrial growth. In 2010, MVA of developing countries grew by 9.4 per cent.

In the new publication, UNIDO estimates that the world manufacturing value added (MVA) grew by 5.3 per cent in 2010. Since 2006, it was the first year when industrialized countries had a growing trend of industrial production.

India has overtaken Brazil in the production of motor vehicles and now ranks second among developing countries after Mexico. According to reports India tops developing countries (China excluded) in production of textiles, chemical products, basic metals, general machinery and equipment, and electrical machinery.

Due to the high growth rates achieved by developing countries, their share in world manufacturing output has reached 32 per cent compared to 20 per cent 10 years ago.

"World manufacturing is showing the first signs of recovery from the recent financial crisis," the statement said.

 
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