The study analyzed productivity and growth trends in Indian manufacturing from 1970 to 2003. They used different methods to estimate productivity, finding that total factor productivity (TFP) grew by 1.1% on average. Materials played a significant role in production, with capital share increasing over time. After the reforms in the 1990s, input growth spiked but TFP growth was negative. However, TFP growth improved after 1998, leading to overall output growth. TFP growth rates varied across industries, with those focusing on services showing higher productivity growth. The lack of productivity growth was identified as a key factor in the underperformance of Indian manufacturing in the past.