Table of ContentsIndia's GDP from Manufacturing at presentThe Road AheadKey Market Drivers for Indian ManufacturingIndia's GDP from Manufacturing at present The current GDP of the manufacturing industry in India increased to INR 5,355.42 billion in the third quarter of 2017, compared to INR 5,131.39 billion in the second quarter of 2017. The GDP of the manufacturing sector in India rose averaging INR 4,269.80 billion from 2011 to 2017, reaching an all-time high of INR 5,355.42 billion in Q3 2017 and an all-time low of INR 3,305.81 billion in Q4 2011. Say no to plagiarism . Get a tailor-made essay on “Why violent video games should not be banned”?Get the original essayOn the wayIndia's gross domestic product (GDP) is expected to reach $6 trillion by FY27 and achieve upper middle income status through digitalization, globalization, favorable demographics and reforms. Many foreign companies are setting up operations in India thanks to various government initiatives such as Make in India and Digital India. Mr. Narendra Modi, Prime Minister of India, launched the Make in India initiative with the aim of boosting the manufacturing sector of the Indian economy, increasing the purchasing power of the average Indian consumer, which would further boost demand and would thus stimulate development. , in addition to benefiting investors. The Indian government, under the Make in India initiative, is trying to boost the contribution of the manufacturing sector and aims to increase it to 25 percent of GDP from the current 17 percent. hundred. Additionally, the government has also launched the Digital India initiative, which focuses on three main elements: creating digital infrastructure, providing digital services and increasing digital literacy. According to a recently conducted study by global management consulting firm McKinsey and Company, the Indian manufacturing industry is expected to reach $1 trillion by 2025. Industry experts recognize the growing demand for manufacturing units and the trend to create low-cost factories in the country. India by multinational companies for this possible development. Around 90 million domestic jobs are expected to be created by then, with the manufacturing sector contributing around 25-30% of India's gross domestic product. India's rapidly expanding economy provides international entrepreneurs and local players with an array of opportunities to venture and grow. Key Market Drivers for Indian Manufacturing The Indian manufacturing sector has witnessed slow growth due to deceleration in investments. The national manufacturing policy suggests increasing the share of the manufacturing sector in GDP to 25% in order to create 100 million jobs in the coming decades. Additional capacities are planned to be installed in all major manufacturing units. A public procurement policy was proposed integrating technology as well as common facilities centers while Khadi Mark measures were launched to promote micro-small and medium enterprises. Indian industries contribute a commendable share to the balanced growth of the Indian economy. Although Indian manufacturing GDP has improved over the last two years thanks to the Make in India campaign, it remains low compared to our neighboring countries like Thailand (where 35 percent of GDP comes from manufacturing). manufacturing sector), China. (32 percent), Philippines (30 percent) Indonesia (29 percent). We have a long way to go..