Impressive growth in industrial sector is propelled by the robust growth in the manufacturing sector, which continues to be unabated. Year-on-year industrial growth of 10.6 per cent in the first nine months of 2006-07 was the highest recorded since 1995-96; growth of the manufacturing sector was in double digits. The country is known for its manufacturing excellence, no wonder that it is amongst the countries with the highest tally for the year with total TPM Excellence Awards winners standing at 111.

India's vast domestic market and relatively low-cost workers with advanced technical skills are attracting MNCs and more and more are setting up operations in India. Some of these companies include - ABB, Honeywell and Siemens, Cummins, Daimler Chrysler, Toyota, Degussa and Rohm and Hass.