Over the last 30 years, successive Central governments have strived hard to raise the share of manufacturing in India’s GDP to 25 per cent. It currently stands at 17 per cent, which is a slight improvement since 2014 when it had been stagnating at 13-15 per cent.
The case of China –
An opportunity for India –
The PLI Scheme –
Focus on MSMEs –
Globally competitive manufacturing and resultant exports will lead the way for India to achieve true Atmanirbharta. Such an achievement will also enhance our national security in multiple ways.
Source – The Hindu Business Line
QUESTION – As the manufacturing sector seeks to diversify itself from its over-reliance on China, it opens up a box of opportunities for India. Discuss how India can present itself as a formidable alternative? What is the government doing in this regard?