EMPOWERING MANUFACTURING THROUGH INNOVATION AND COLLABORATION

Umesh Rathod, TEDx speaker and startup mentor, shared insights at the Festival of Manufacturing in Mumbai on the role of innovation and collaboration in driving India's manufacturing sector forward.

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Over the years, the Indian government has introduced several initiatives to strengthen the manufacturing sector, including the Production Linked Incentive (PLI), National Infrastructure Pipeline (NIP), Supply Chain Resilience Initiative (SCRI), and PM Gati Shakti Scheme. These initiatives aim to increase the sector's contribution to GDP and position India as a global manufacturing hub.

Among these, the PLI scheme stands out as a transformative measure, offering strong financial support to entrepreneurs. "This is a game-changer for Indian manufacturing. Entrepreneurs can take risks knowing they have strong backing from the government," said Umesh Rathod. The model is being replicated across multiple industries, including semiconductor manufacturing. Additionally, initiatives under Startup India provide funding support to new ventures, promoting a robust ecosystem for innovation and entrepreneurship.

INFRASTRUCTURE AND REGIONAL DEVELOPMENT

The government's focus on infrastructure development has led to the expansion of industrial parks, special economic zones, and warehousing facilities. Maharashtra, for instance, is among the leading states in terms of industrial and warehousing land availability. Various regions across India have been earmarked for industrial and logistics hubs, further strengthening the country's manufacturing framework.