New Delhi, January 24 (IANS). According to a report, India is planning to almost triple its exports to $1.3 trillion by 2035 through structural reforms and easing of regulations. For this, the government is emphasizing on manufacturing based development instead of relying on huge government expenditure.
This strategy is being considered as the third major effort of Prime Minister Narendra Modi to make India a global manufacturing hub, so that the country can play an important role in world trade.
According to the report, the government has selected 15 primary manufacturing sectors. These include labour-intensive industries like high-end semiconductors, metals, electronics and leather.
Government officials believe that by simplifying the rules, reducing paperwork and improving the business environment, companies will be able to produce more, investment will come and Indian products will be able to compete better in the global market.
This new effort is being made at a time when there is increased uncertainty in the world, but despite this, India is being seen as a stable growth engine.
Amidst supply chain pressure and geopolitical tensions across the world, India is presenting itself as a reliable alternative manufacturing country.
Recent figures show that the government’s policies and reforms are beginning to have a positive impact on the manufacturing sector.
According to the latest survey of Federation of Indian Chambers of Commerce and Industry (FICC), India’s manufacturing performance in the third quarter of FY 2026 has touched an all-time high and the confidence of industries has strengthened further.
According to FICCI’s Quarterly Manufacturing Survey report, 91 percent of the companies reported that their production situation remained better or stable, which was 87 percent in the previous quarter.
The confidence of industries has also increased. 86 percent of companies expect their orders to remain the same or better than before. The recent reduction in GST rates has also contributed to this.
The annual turnover of the manufacturing companies included in this survey is more than Rs 3 lakh crore. It was reported in the report that the financial condition of the companies remains supportive.
According to the report, the average interest rate for manufacturing companies was 8.9 percent. At the same time, about 87 percent of the companies said that they are getting adequate funding from banks for their operations and long-term needs.
–IANS
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