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Readers are familiar with the concept of jobless growth. But India is now demonstrating a less familiar phenomenon, which, for want of a better phrase, can be called industry-less growth. This was unsurprising last year, when the global recession forced down industrial growth everywhere, including India. Industry typically grows more slowly, or falls faster, than GDP in a business downswing. But in 2002 the world has swung up out of the recession, notwithstanding some fears of a second downward dip in coming months. Many of our Asian neighbours have recorded big jumps in industrial growth, with Singapore leading the pack at 18.9 per cent. But in India Industrial growth continues to lag behind GDP growth even in a global recovery.