India Plans to Boost Manufacturing Sector to 23% by 2045: FM Sitharaman

 


India is set to significantly expand its manufacturing sector, aiming to increase its contribution to the national GDP from the current 12% to 23% over the next two decades, Finance Minister Nirmala Sitharaman announced.

Speaking at a recent industry event, Sitharaman emphasized the government's commitment to strengthening industrial growth through strategic initiatives, policy reforms, and infrastructure development. She highlighted schemes like "Make in India" and production-linked incentives (PLI) as key drivers for achieving this ambitious target.

The push for a stronger manufacturing base is seen as crucial for creating jobs, boosting exports, and ensuring sustainable economic growth. Sitharaman also urged the private sector to invest actively, promising continued government support to facilitate ease of doing business.

The goal aligns with India's broader vision of becoming a global manufacturing hub by 2045.


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