Prime Minister Narendra Modi has emphasized that the government is actively working to position India as a global manufacturing hub. During his Independence Day address, he highlighted the need for improving the quality of products and services to meet international standards. He advocated for a focus on “Design in India, Design for the World,” urging the creation of products that cater to both domestic and global markets.
Modi stressed that India is renowned for its quality, but now it must aim to ensure that Indian standards align with international benchmarks. He believes that once Indian standards are globally recognized, it will lead to easier approvals and acceptance worldwide. This progress hinges on the quality of production, services, and the nation’s overall approach. Modi confidently predicted that India would soon become a hub for industrial manufacturing, drawing the world’s attention.
He also highlighted the government’s ambitious production-linked incentive (PLI) scheme, valued at approximately ₹1.97 trillion (around $23.8 billion). This scheme aims to bolster India as a manufacturing powerhouse, reduce reliance on imports, and generate employment opportunities.
According to Modi, the government’s policies have successfully created an ecosystem that supports the manufacturing and export of mobile phones and toys, reversing past dependence on imports. He also credited FDI reforms and support for MSMEs with strengthening India’s manufacturing sector, making it a global hub.
The Prime Minister’s speech echoed the Bharatiya Janata Party’s (BJP) manifesto, which envisions making India a leading global manufacturing hub, especially in sectors like electronics, defense, mobile phones, and automobiles, by 2030. Modi noted that the world’s largest companies are eager to invest in India, seeing this as a golden opportunity. He encouraged state governments to actively attract these investors.
Modi also pointed out that India is working toward self-reliance in defense, a sector where the government has made significant strides in recent years. He recalled a time when most of the defense budget was spent on procuring weapons from abroad, but now, the focus is on indigenous manufacturing. According to government data, India’s annual defense production reached a record high of ₹1.27 trillion (approximately $15.3 billion) in FY24, marking a nearly one-third increase. Defense exports also saw a significant rise, growing 78% year-on-year to ₹6,915 crore (approximately $832 million) in the April-June quarter of the current fiscal year.
