As the popular Made in India initiative approaches its tenth anniversary, Prime Minister Narendra Modi emphasised on Wednesday that its influence is becoming apparent in a variety of industries.
For example, the number of mobile manufacturing units in India has increased from two in 2014 to 200 currently. “Our mobile exports have increased by an incredible 7500%, from a meagre Rs 1,556 crore to an unbelievable Rs 1.2 lakh crore! 99% of cell phones in use in India now are domestically produced. We’ve grown to be the world’s second-largest mobile maker,” he said on LinkedIn.
He added that our semiconductor manufacturing sector has attracted investments worth over Rs 1.5 lakh crore, with five plants approved that will have a combined capacity of more than 7 crore chips per day. India has also become a net exporter of finished steel, with production rising by over 50% since 2014. India is the world’s fourth-largest generator of renewable energy, having seen a 400% increase in capacity in the last ten years. He said, “Our electric vehicle industry, which was virtually nonexistent in 2014, is now worth $3 billion.”
Launched on September 25, 2014, the “Make in India” strategy has been in place for 10 years, with the goal of turning India into a worldwide manufacturing centre. According to officials, several significant accomplishments in infrastructure, defence, and exports have been made possible by the Made in India effort. Policies like Production Linked Incentives (PLI), FDI reforms, and infrastructure have drawn investments from both local and foreign sources.
Although the government is still upbeat about the manufacturing sector’s stellar growth in the nation, it has also highlighted that obstacles still exist in areas like expanding the small and medium-sized business sector and creating jobs.
Furthermore, despite efforts, the manufacturing sector’s percentage of the GDP has been at 17%, a long way from the 25% objective that is set for 2030. “We have high hopes for the industrial sector’s outstanding growth. Amardeep Singh Bhatia, Secretary, of the Department for Promotion of Industry and Internal Trade, stated on Wednesday that “a huge number of delegations are coming in, searching for partners and commitments by foreign investors.”
The DPIIT Secretary highlighted the effect of the different plan efforts, stating that the Production Linked Incentive scheme in 14 sectors has led to investments of Rs 1.46 lakh crore, resulting in sales and manufacturing output of Rs 12 lakh crore and the creation of 9 lakh employment. Additionally, it has increased exports by Rs 4 lakh crore.
The Secretary further emphasised that a major goal of the Made in India campaign has been to make doing business easier. 3,700 provisions have been decriminalised, and over 42,000 compliances have been decreased. In July of last year, the Lok Sabha enacted the Jan Vishwas (Amendment of clauses) Act, 2023, which decriminalised 183 clauses included in 42 Central Acts. According to Bhatia, the Centre would collaborate with the states to increase business accessibility.
