Propped up by Automobile, Electrical Machinery, and Aircraft Products Sectors
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Share of manufacturing in GDP to Rise from 14 per cent in FY24 to 21 per cent by FY34
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This growth is expected to support electronics production worth USD 500 billion
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India is the top investment destination with China’s dependence reducing substantially. About 760 executives were interviewed and 75 per cent wanted to invest in India. Is Invest India geared up for this?
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As part of an election pledge to transform India into a global manufacturing hub, Modi wants to offer subsidies for domestic production modelled on recent packages for semiconductor firms and electric vehicle makers
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The report highlights that due to initiatives like Make in India, the FDI in the manufacturing sector has surged 55 per cent to USD 148.9 billion during 2014-2023, compared to USD 96 billion between 2005-2014
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