India needs to focus on manufacturing to achieve sustained 7-7.5 per cent growth until 2030: CEA V Anantha Nageswaran

As regards the services sector, he said the composition should change in favour of high value added services as this would improve earnings by attracting foreign demand. “The Indian economy, in real terms, needs to grow annually at 7-7.5 per cent until 2030… The share of manufacturing in total gross value added has to increase from 16 per cent at present to at least 25 per cent of GDP at the expense of agriculture and low value added services,” Nageswaran said.

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