Labour intensive sectors which facilitate transfer of technology, especially the manufacturing industry, are contributing less and less to the economy. On the other hand, an accelerating growth is depicted in small value added, resource-based industry and non-tradable sectors such as telecommunication. If left unattended, this problem may lead to deindustrialization that may cause reduction in the value added of the national industry. 46.
Our domestic manufacturing industry is also heavily dependent on imports. As a consequence, economic growth is followed by rising imports which causes the current account surplus to decline. Such a trend is actually already happening.