Saon Ray, Senior Fellow at ICRIER, said that while Indian manufacturing sector has grown in terms of value added, it has remained stagnant in terms of employment for the last 3-4 decades. She said that India needs to integrate itself into the regional and global value chains in order to benefit from the strengths of its manufacturing sector. The discussion with Mitali Mukherjee, Fellow, ORF was part of Mint's Road to Recovery series focused on the upcoming Budget.