Correction?

The Economist (23- 29 May 2015) carries a special report on India. It gives an accurate assessment of Modi's first year in power. The report repeatedly mentions that manufacturing sector makes only 16% contribution to the economy.

As per Economic Survey of 2014-15, the break up of gross value added is:

Agriculture 19%

Industry 31% and 

Services 50%.

So what causes the gap between industry and manufacturing contribution? Laypersons might treat the two as the same. But mining and quarrying, electricity, gas, water supply and construction are the other parts of industry and together they contribute the difference of 15%.

It is important to remember that Modi's Make in India refers to manufacturing and not industry. Increasing the share of manufacturing from 16% to 25% is proposed and it is a very difficult target.