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Productivity Trends in Indian Leather Industry

The industrial scenario of India has changed since mid-80’s with the first round liberalisation. The new economic policy introduced in 1991 emphasises on export-led growth envisaged a thorough restructuring of the economy pegged on the industrial sector as it has a happened in Korea, Taiwan and Singapore in mid-sixties. There is emphasis on boosting up industrial productivity and the level of industrial efficiency. Many state Governments have come out with their industrial policies for promoting industries. Their policy incentives ranges from providing tax concessions, subsidies and special incentives for setting up industries in backward areas. In order to study this new consensus of private industry-led growth of the secondary sector, one has to analyse the past trend and present structure of each industry as a disaggregated level. Unless one discems the trends over the years at the industry level, any growth strategy propelled by private investment may be unduly optimistic. In the prevailing economic regime any industry with potentials of growth in productivity and exports is of critical importance. Thus, industry-specific measure of productivity trend and export performance has definite implications in the formulation of investment policies for different industries. Many studies in the past, Diwan-Gujarati (1968), Benarji (1975), Ahluwalia (1985, 91) Goldar (1986); and recently, Anita Kumari (1993), Balkrishnan and Pushpangadan (1994) and Rao (1996) have tried to measure productivity at aggregate, group as well as disaggregated level of industrial manufacturing pertaining to different time periods, although, they have many disagreements with regard to their findings, methods of measurement and factors responsible for temporal shifts in productivity level.