000			01828nam a22001577a 4500
999			_c522071 _d522071
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100			_aMajeed, M., Mushtaq, S.O. and Rather, Z.G. _938335
245			_aThe complementarity between the formal and informal sub-sectors of the Indian industry
260			_aThe Indian Journal of Labour Economics
300			_a65(4), Oct-Dec, 2022: p.981-1006
520			_aIndian economy is categorized as one of the fastest growing advancing economies. Much of the growth has been attributed to the industrialization process post-independence especially after economic reforms of 1990s. However, the formal industrial sector has been unable to absorb the growing labor force and thus majority of labor force have been forced to derive and find self-employment options in the informal sector. The current study is an attempt to analyze the Indian industry in light of this formal and informal bifurcation. Using the stochastic frontier analysis, the production functions are validated and technical efficiency (TE) is predicted. The study reveals that the formal industrial sector in India is relatively efficient. However, the informal sector, apart from absorbing higher number of labor force, is performing better than dictated by hitherto classic theoretic predictions. The study also analyzes the factors influencing the TE of the formal and informal sectors. The study concludes that the formal and informal sectors mutually reinforce the industrial growth in India, have positive linkages and contribute efficaciously to economic outcomes like output and employment. – Reproduced
650			_aFormal sector, India, Industry, Informal sector, Technical efficiency. _936732
773			_aThe Indian Journal of Labour Economics
906			_aINDUSTRIAL DEVELOPMENT
942			_cAR