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Purpose: This chapter aims to enlighten the stakeholders on the role and contribution and the issues and challenges of large-scale industries in the wake of the globally unified economies.

Need for the study: Large-scale industries are one of the pillars of any nation and can exercise an immense impact on the numerous facets of the economy of any country. Their role and contribution can benefit all the stakeholders, especially in today’s integrated and interdependent world economies. Hence, there is an absolute need to highlight the issues and challenges and suggest measures to overcome them to promote a resilient global economy.

Methodology: The study gathered data from secondary sources like textbooks, articles, and the internet.

Findings: The findings of the study state that large-scale industries are enormous contributors to employment creation, development of the economy, growth of revenue, research and development (R&D) and innovation, export promotion, and infrastructure. The significant challenges include regulatory compliance, workforce management, economic volatility, political instability, supply chain management, environmental compliance, and technology and infrastructure.

Protectionism, deregulation, public–private partnership, privatisation, and environmental regulation are significant government decisions that affect large-scale industries. The study identifies tax incentives, easy access to financing, and domestic and international trade policies to safeguard large-scale industries’ interests.

Practical implications: Large-scale industries contribute towards the growth of global economic resilience in terms of employment generation, technological advancements, and innovation, fostering international trade in today’s interconnected world.

Purpose: Manufacturing has always been considered a backbone for economic growth. It has been considered an imperative sector in the growth of an economy. This study aims to trace the long-term relationship between gross domestic product (GDP) and manufacturing sector in the context of Indian economy.

Need for the study: According to research, the significance of the manufacturing sector is waning over time. This chapter studies the long-term relationship between the GDP, an indicator of growth, and the manufacturing sector. Over the last few decades, the contribution of manufacturing has been stagnant in the GDP of India.

Methodology: The decadal growth of various sectors in the GDP of India is studied using time series analysis. This study used the data released by the Ministry of Statistics and Programme Implementation (MOSPI) from 1950–1951 to 2013–2014. The long-term relationship between the sector of manufacturing and the GDP is examined through the augmented Dicky–Fuller (ADF) test and auto-regressive distributed lag (ARDL) models.

Findings: The findings suggest that in the Indian scenario, there is no relationship for an extended period between the GDP and the manufacturing sector, which calls for further policy implications.

Practical implications: India, while having the world’s fastest-growing economy, must continue to take steps to attain high growth rates and long-term sustainability by reducing obstacles to the expansion of the service sector in addition to manufacturing. Manufacturing-led services are to be boosted through policy interventions.