Application of Cobb-Douglas Production Function on the Indian Printing Industry

This research examines the Indian printing industry from the post-independence period of 1950–51 through 2023–24, utilizing the Cobb-Douglas production function. By applying a multiple regression model to longitudinal data concerning labour (total persons engaged), capital (total investment), and annual output, the study analyses industrial evolution and development over a seventy-four-year horizon. The empirical evidence indicates that enhanced productivity is primarily contingent upon capital deepening. Although labour remains fundamental to industrial operations, its marginal contribution has reached a plateau. Consequently, to facilitate further growth in output, the industry must prioritize strategic investments in technology and infrastructure. These findings suggest a highly capital-intensive production environment where capital investment serves as the principal driver of expansion. The study concludes that the Cobb-Douglas specification offers a technically superior framework for evaluating these temporal dynamics and provides precise estimations of output elasticities.