Manufacturing mission to get ₹10,000 crore reboot

Goal is to finance greenfield projects, scale high-value sectors in 7 regions

- Manas Pimpalkhare & Rituraj Baruah

NEW DELHI: India is looking to give a strong push to its longheld ambition of raising manufacturing's share of GDP to 25% through a planned ₹10,000-crore outlay for the National Manufacturing Mission (NMM), as per two people aware of the matter.

The NMM, first announced in the Union Budget for FY26 with a modest ₹100 crore allocation, will channel these funds into greenfield projects and help scale up high-value sectors across seven regional clusters, the people cited above said on condition of anonymity.

An inter-ministerial committee comprising the ministries of electronics, steel, heavy industries, and renewable energy, among others, as well as federal think-tank Niti Aayog, and the department of promotion of industry and internal trade (DPIIT), has proposed viability gap funding (VGF)-a government grant that bridges the shortfall between a project's cost and private financing-to spur investment in priority sectors and niche manufacturing areas, according to the draft proposal reviewed by Mint.