The imprint of “Make in India” initiative has become visible across sectors, including in areas, “where we never even dreamt of making an impact,” prime minister Narendra Modi said on Wednesday. In a blog on LinkedIn, he lauded everyone who played a role in making the initiative, launched a decade ago, a “roaring success.”
“The government is committed to making this spirit even stronger,” he stressed. “It is the collective drive, relentless in nature, which has transformed a dream into a powerful movement. The impact of ‘Make in India’ shows that Bharat is unstoppable,” he said.
Recounting the Make in India journey, he pointed out that in 2014 there were just 2 mobile manufacturing units in the country and their number has now swelled to 200 making India the second largest mobile phone maker. The exports of mobile phones has skyrocketed to Rs 1.5 lakh crore from Rs 1,556 crore and today 99% of the phones used in India are made locally.
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In steel India has become a net exporter of finished steel, with production increasing by over 50% since 2014, Modi said in a blog post of Linkedin. .
“Our semiconductor manufacturing sector has attracted investments worth over ₹1.5 lakh crore, with five plants approved that will have a combined capacity of more than 7 crore chips per day,” he said.
In renewable energy, India is the 4th largest producer globally, with capacity increasing by 400% in just a decade. Electric vehicle industry, practically non-existent in 2014, is now worth $3 billion.
Defence production exports have soared from Rs 1,000 crores to Rs 21,000 crore, reaching over 85 nations, Modi said.
Over the years, we have seen toy exports increase by 239%, with imports halved, particularly benefiting our local manufacturers and sellers.
“As a Government, we are committed to making this spirit even stronger. Our decade long track record speaks for itself. The Production Linked Incentive (PLI) schemes have been game changers, enabling investments of thousands of crores and generating lakhs of jobs,” Modi said.
From: financialexpress
Financial News
