New Delhi, 20 September (IANS). According to the central government, India is moving towards its target of the $ 35 trillion economy by 2047 and in this order there will be an engine of manufacturing development, which will be supported by reforms, regional incentives and strong supply chains.
This sector has gained strong speed, which is displayed by the increase in GDP growth estimates in fitch ratings, IMF and S&P Global Outlook, in addition to reaching the 16 -month high of manufacturing PMI.
According to an official statement, “This sector has also demonstrated strength even among global uncertainties. The government’s vision to increase the share of manufacturing in the country’s GDP provides a clear roadmap for industrial revival. Support is supporting manufacturing, PLI Scheme, National Manufacturing Mission and Skill Development initiatives.”
The Industrial Production Index (IIP) recorded a 3.5 percent increase in July in July, a significant increase from 1.5 percent of June.
This index refers to the amount of production in areas such as manufacturing, mining and electricity.
It also appeared in HSBC India Manufacturing Purchasing Manager Index (PMI) for speed manufacturing. In June 2025, PMI was at 58.4, which increased to 59.1 in July and increased to 59.3 in August.
These latest figures indicate the fastest improvement in operating conditions in 17 years.
The contribution of the manufacturing sector in the economy is clear with the increase in exports. In April-August 2025, the total exports increased by 6.18 percent to $ 349.35 billion.
According to government data, the cumulative price of trade exports during April-August 2025 stood at $ 184.13 billion, while it was $ 179.60 billion during April-August 2024. Thus, it recorded a positive increase of 2.52 percent.
With clear development in the manufacturing sector, the sector has a capacity to reach Rs 87,57,000 crore ($ 1 trillion) in FY 2026 and the global economy has a capacity to add more than Rs 43,43,500 crore ($ 500 billion) annually in the global economy by 2030.
This shows that India is constantly strengthening its position as a global manufacturing center.
The August 2025 data shows that the unemployment rate (UR) in men has come down to 5 months low to 5.0 percent.
With strategic reorganization in the global supply chain, India has a special opportunity to move forward as a preferred destination for investment, innovation and mass production.
If this pace continues, India can become a global hub of innovation and leadership with the ‘factory of the world’.
-IANS
SKT/
