Threefold expansion in the manufacturing sector

The country started its strong economic journey due to various schemes launched by Prime Minister Narendra Modi and his government in the last 10 years. The country saw tremendous growth during the 10 years, whether it was the emphasis on manufacturing local products, new semiconductor plants, AI, 5G, startups, innovation and PLI schemes for various sectors or making workers skilled and creating millions of new jobs. In such a situation, inspired by the PLI scheme, the manufacturing sector of the country is expected to expand three times. Which will reach $ 1.66 trillion from the current $ 459 billion. This growth is more than the average growth of $ 175 billion in the last decade.

Infrastructure investment is to increase further

According to a latest report by DSP Mutual Fund, the contribution of the manufacturing sector to GDP is expected to increase from 14 per cent in FY24 to 21 per cent by FY2034, driven by lower transportation costs and better infrastructure. Moreover, investment in infrastructure will increase from 33 per cent of GDP in FY24 to 36 per cent by FY29.

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• list of manufacturing companies in Punjab

• list of manufacturing companies in Hosur

• list of manufacturing companies in Kerala