Photo: The Hindu12 years of ‘Make in India’ in 12 metrics — Low and patchy impact on growth, employment & global share
Reported by The Hindu, not nibnow. We are not the publisher of this story, only the source is.
The analysis indicates that twelve years after the launch of the Make in India campaign, the manufacturing sector's contribution to India's economic growth, employment, and global exports has remained largely unchanged. This suggests that while recent government incentive schemes have yielded some success, the broader impact on the economy and job creation has been limited to a few specific sectors.
The twelve year anniversary of the Make in India initiative reveals a mixed performance record for the country's industrial sector. While export figures have demonstrated an upward trajectory, the broader economic indicators have not improved at a comparable rate. Specifically, the proportion of manufacturing within the overall economy has remained largely unchanged over the past decade. Furthermore, job creation within the manufacturing sector has stagnated, failing to deliver significant new employment opportunities. These metrics suggest that the policy has had a limited and uneven effect on driving comprehensive economic expansion and workforce development.
- •Future government policy adjustments aimed at expanding the success of current incentive schemes beyond the handful of sectors that have already benefited.
- •Changes in the manufacturing sector's share of India's overall economic growth and employment figures in upcoming economic reports.
- •Shifts in India's global export share within the manufacturing category as the initiative matures.