Manufacturing - #SectorUpdates

Manufacturing sector is a high growth sector in India. Under Make in India initiative, India is targeting to become a manufacturing hub by the end of 2030. Capacity utilization in India’s manufacturing sector is estimated at 72% in second quarter of FY22 with a significant growth in post COVID era. According to the market reports, during FY 2021 – 22, India received FDI inflow of US$ 58.77 billion which will help grow the sector globally as well. In India, manufacturing production and exports have been facilitating  the  growth of many dynamic emerging economies. Manufacturing exports constitute the lion’s share of merchandise exports of countries globally with an expectation to boost up exports of the sector to $1 trillion by FY28.During the calendar year 2021, 3.08 crore employment opportunities have been created in this sector with a target to create 100 million new jobs in the same sector by the end of year 2022. Government of India has initiated The National Manufacturing Policy with an aim to enhance the share of manufacturing GDP from 16% in pre-pandemic situation to 25% by end of 2025. 

Subscribe Our Newsletter