The Indian manufacturing sector experienced a strong resurgence in the last three years. It witnessed an average annual growth rate of around 10.13 per cent in 2004-07, compared to 5.7 per cent during the preceding five years. Buoyed by this impressive growth in the manufacturing sector, the Indian economy grew at an average annual rate of 8.6 per cent in 2004-07 compared to just 5.4 per cent during 1980-90. Given, India s stage of development, manufacturing would be considered to be the engine of development.