Key Points
New Delhi: Even as the Narendra Modi government celebrates 10 years of the Make in India initiative, an analysis of the countrys manufacturing and export performance shows the push to the sector has not increased its share in the GDP, in employment, or in global exports...
On the 10th anniversary of the programme Wednesday, Prime Minister Narendra Modi posted on X, saying Make in India illustrated the collective resolve of 140 crore Indians to make our nation a powerhouse of manufacturing and innovation...
Data from the Ministry of Statistics and Programme Implementation shows the manufacturing sector contributed 17.3 percent to Indias GDP in 2013-14, a year before the Make in India initiative was launched..
Additionally, the Reserve Bank of Indias KLEMS database shows the share of the manufacturing sector in total employment in the country has marginally declined from 11.6 percent in 2013-14 and 2014-15 to 10.6 percent in 2022-23, the latest period for which there is data...
However, by 2022-23, it stood at just 1.8 percent a significantly lower increase.. The World Bank, in the latest edition of its India Development Update released earlier this month, made particular mention of Indias poor export performance in terms of contributions to GDP, in global value chains, and in employment generation...
You might be interested in
Something worrying is happening in economy. Modi govt must shift focus from Europe to Asia
17, Oct, 23Europe's share in Indian exports has gone up while Asia’s share is declining. The problem for India is: Europe’s economy is expected to struggle while Asia is set to drive global growth.
At the root of India’s manufacturing challenge
02, Jun, 23The need for an entire ecosystem, including schooling, training and infrastructure for manufacturing to flourish cannot be achieved merely through legislation
India’s slow but sure de-industrialisation is worrying
15, Jun, 23India’s high GDP growth has got policymakers excited but we must not lose sight of our flagging manufacturing sector that needs a major revival for the sake of prosperity and employment
India's experience in terms of manufacturing GDP growth different from rest of world: NITI Aayog member Ar
04, Oct, 23India's manufacturing GDP has followed a different trajectory compared to the rest of the world, according to NITI Aayog member Arvind Virmani. He emphasized the need for a competitive economy and highlighted the country's policy reforms in the past decade. Virmani also mentioned the importance of entrepreneurship, startups, and institutional reforms. The manufacturing sector currently accounts for around 17% of India's GDP. Virmani noted the government's role in providing public goods and ensuring a pro-competition market environment, while the private sector needs to compete, innovate, and invest. The focus is on creating more jobs for India's young workforce.
India growth slows to 4.4% in December quarter on weak demand
28, Feb, 23Quarterly data showed GDP growth down from 6.3 percent in the September quarter after consumption weakened following India's festive season
TOI’s Right To Excellence Agri-Tech Summit 2023 to focus on how technology can transform India’s agriculture sector
20, Dec, 23India Business News: Agriculture contributes to nearly 18 percent of India’s GDP and provides employment to about 45 percent of the country’s workforce.
India slowly taking export market share from China, study shows
28, Feb, 24India is gaining market share in electronics exports, particularly in the UK and US. The government offers incentives to attract manufacturers, and companies like Samsung and Apple have manufacturing operations in India. This supports Prime Minister Narendra Modi's 'Make in India' plan.