|
Marking the 11th anniversary of the landmark "Make in India initiative", Union Minister for Commerce and Industry Piyush Goyal reflected on the program's transformative impact on India's manufacturing landscape, adding that the vision has transformed India into a global manufacturing powerhouse.
Launched by Prime Minister Narendra Modi in 2014, the Make in India initiative was envisioned to revive the nation's industrial base and turn the country into a global manufacturing hub. Eleven years on, Goyal stated that this vision has "transformed India into a global manufacturing powerhouse." "Today, I am proud to say that this vision has transformed India into a global manufacturing powerhouse. In these years, record FDI inflows, vast improvements in ease of doing business, our rise as the second-largest mobile manufacturer globally, soaring exports, and expanding defence production, all showcase how far we have come," Goyal added in his X post. A cornerstone of this industrial revival has been the Production Linked Incentive (PLI) Scheme, which Goyal credited for generating massive investments and job creation across multiple sectors. He also highlighted India's thriving startup ecosystem, driven by the energy of young and women entrepreneurs, which has positioned the country as the world's third-largest innovation hub. "The journey has been made possible because of the collective effort of our industry, MSMEs, startups, entrepreneurs, and every citizen who carries the spirit of Swadeshi in their heart," Goyal stated, underscoring the grassroots strength behind the movement. Goyal expressed confidence that the next phase of Make in India will write a new chapter, one of global leadership through a self-reliant (Aatmanirbhar) and developed (Viksit) Bharat. The initiative was conceived during a period when India's economic growth had sharply declined, and the country faced critical challenges in sustaining its development trajectory. 'Make in India' was designed to transform India into a global hub for design and manufacturing. Its core objectives were to facilitate investment, encourage innovation, and develop world-class infrastructure. As one of the pioneering 'Vocal for Local' initiatives, it sought not only to boost India's manufacturing capabilities but also to showcase its industrial potential on a global stage. The initiative's focus on developing a robust manufacturing sector promises to elevate India's economic trajectory and generate employment opportunities for its vast young workforce. Now, with the "Make in India 2.0" phase encompassing 27 sectors, the program continues to drive forward with significant achievements and renewed vigour, reinforcing India's position as a major player in the global manufacturing landscape. (ANI)
|
