While the share of industry has picked up, it remains significantly below the national average underscoring the scope for further industrialisation (Chart 3).
In India, there are other market regulators besides the Reserve Bank such as the Securities and Exchange Board of India (SEBI), the Insurance Regulatory and Development Authority (IRDA) and the Pension Funds Regulatory and Developmental Authority (PFRDA) who contribute to the building block for financial stability.