*Manufacturing exports have registered highest ever annual exports of US$ 447.46 billion with 6.03% growth during FY23 surpassing the previous year (FY22) record exports of US$ 422 billion.
*By 2030, Indian middle class is expected to have the second-largest share in global consumption at 17%.
*Propelled by growth in priority sectors and driven by favourable megatrends, India’s manufacturing sector has opened itself into new geographies and segments.
*Building on the competitive advantage of a skilled workforce and lower cost of labour, the manufacturing sector is also witnessing an increased inflow of capex and heightened M&A activity, leading to a surge in manufacturing output and resultant increased contribution to exports.
*The Production Linked Incentive (PLI) scheme has been notified for Large Scale Electronics Manufacturing in India. The scheme aims to attract large investments in the mobile phone manufacturing and specified electronic components, including Assembly, Testing, Marking and Packaging (ATMP) units.
*India's manufacturing sector is poised to reach US$ 1 trillion by 2025-26, led by Gujarat, Maharashtra, and Tamil Nadu, fueled by investments in automobile, electronics, and textile industries. Government initiatives like Make in India and PLI schemes drive growth, attracting FDI and enhancing industrial infrastructure.
*The positive developments in the manufacturing sector, driven by production capacity expansion, government policy support, heightened M&A activity, and PE/VC-led investment, are creating a robust pipeline for the country’s sustained economic growth in the years to come.
Union Minister of External Affairs, Dr. S. Jaishankar and Union Commerce an...
India, the country where millions of travellers come to seek spiritual fulfilment as part of their tourism journey, makes it an integral part of India...
Mutual funds play an indispensable role in capital markets, serving as a gateway for individuals and institutions to access a diverse range of securit...
The logistics industry plays a vital role in the dynamic economic landscape of India by enabling the efficient movement of goods and services througho...
In the era of Amrit-Kaal, India is positioning itself to play a crucial rol...
India has recently announced that it is targeting net zero emissions by 207...
The banking industry affects us in ways that we might not be aware of. By s...