Manufacturing Industry

The manufacturing sector is the backbone of any economy. It fuels growth, productivity, employment, and strengthens agriculture and service sectors. Astronomical growth in worldwide distribution systems and IT, coupled with opening of trade barriers, has led to stupendous growth of global manufacturing networks, designed to take advantage of the low-waged yet efficient workforce of India.

The Indian manufacturing sector is broadly divided into –

  • Capital goods & engineering.
  • Chemicals, petroleum, chemicals & fertilizers.
  • Packaging.
  • Consumer non-durables.
  • Electronics, IT hardware & peripherals.
  • Gems & jewelry.
  • Leather & leather products.
  • Mining.
  • Steel & non-ferrous metals.
  • Textiles & apparels.
  • Water equipment.

The manufacturing industry in India has gone through various phases of development over the period of time. This sector currently contributes around 15-16% to the GDP (2015) and gives employment to around 12% (2014) of the country’s workforce.

Manufacturing businesses need their insurance policy for manufacturers to cover a variety of risks to stay safe and productive. It provides the coverage you need for the challenges you face as a manufacturer.

Following are some of the innovative insurance coverage for manufacturer
policy products for entities.

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