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From national to global manufacturing hub
February 02, 2025
|Financial Express Kochi
TO PROVIDE a fresh boost to the manufacturing sector, the Budget has announced setting up a national manufacturing mission that will cover small, medium, and large industries.
The mission aims to further the 'Make in India' programme by providing policy support, execution roadmaps, governance, and a monitoring framework for central ministries and states.
The move comes in the backdrop of moderate success in India's plan to benefit from China-plus strategy, and the share of manufacturing in the GDP stagnating, despite a target of 25% set a few years ago.
At constant prices, manufacturing GVA was 16.1% of GDP in FY13, and only declined to 15.8% in FY24.
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