In a recent discussion, Commerce and Industry Minister Piyush Goyal emphasized the remarkable progress of the Make in India initiative over the last ten years, recognizing India as a leading global hub for manufacturing. He highlighted how the initiative has played a vital role in creating jobs, drawing in significant domestic and international investments, and fostering self-sufficiency across various industries. By implementing several reforms aimed at improving the ease of doing business, promoting high-quality production, and reinforcing the nation’s economic foundations, India has witnessed an impressive 90% economic growth, in contrast to the global average of 35%.
Goyal expressed contentment with the Production-Linked Incentive (PLI) scheme, particularly in sectors such as white goods and mobile manufacturing, where domestic value addition has seen a sharp rise. While acknowledging that certain sectors require longer gestation periods to show results, he remained optimistic about the overall progress. The government continues to monitor PLI-linked companies closely, resolving initial challenges and actively engaging with stakeholders. Looking ahead, Goyal reiterated the government’s commitment to further simplifying compliance processes and creating a favorable environment to stimulate manufacturing and job creation across the country.
