India has ranked 30th in the World Economic Forum's global manufacturing index with regards to the structure of production. Japan, South Korea and Germany are the top three countries with Switzerland, China and Czech Republic taking the next three positions. US is at number seven while Sweden, Austria and Ireland are placed at the bottom of the top ten countries.
Amongst the BRICS Countries, except China (ranked five), India has out-performed Russia (ranked 35), Brazil (ranked 41) and South Africa (ranked 45).
According to WEF, India is the 5th-largest manufacturer in the world—with a total Manufacturing Value Added of over US$ 420 billion in 2016- and ranks 45th in economic complexity. Over the last three decades, India's manufacturing sector has grown by more than 7% per year, on average, while accounting for between 16% to 20% of India's GDP. Home to the second-largest population in the world and one of the fastest growing economies, the demand for Indian manufactured products is rising. India has room for improvement across the Drivers of Production, except for Demand Environment where it ranks in the Top five.
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