Prime Minister Narendra Modi’s 2014 Make in India initiative got off to a slow start, but it’s finally gaining traction. Manufacturing sector jobs, which contracted till FY18, started growing in FY19 and gathered pace after the introduction of the Production-Linked Incentive (PLI) programme. Similarly, export benefits have begun showing in the past three years. But the share of manufacturing has remained constant at around 16-17 percent during this period. Moneycontrol looks at how Make in India has evolved over the decade and what that means for its future trajectory as the government targets manufacturing share to rise to 25 percent of the GDP.
Employment benefits have started showing
Exports are also showing manufacturing push
More so, in electronics and electrical machinery
But manufacturing’s share has remained constant
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