3. Industrial Sector's Performance and Constraints Amidst the Services-Led Growth Trajectory component industry. Post-1991 liberalization of growth. India is now the fourth-largest global producer, after China, the United States, and deepened transformation by easing entry barriers, Japan, with an annual output of around 6 millionpromoting FDI, and integrating India into global production networks. From 2014 to 2023, India's 2025). The automotive industry accounts for about 8% of India's manufacturing value added. Automobile assembly began under colonial rule7a). India's global export share has stagnated at dence industrial policies that placed the industrying component industry offers strong potential, within a protected, license-based regime. Throughbut persistent institutional and technological path the 1950s to the 1970s, limited competition anddependencies, global competition, and economic technological stagnation prevailed. In the 1980s, slowdown continue to constrain India's compet- India introduced modern technology, quali-