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Industry Snapshot - Manufacturing Sector

  • May 9th, 2017

INDUSTRY VS. GDP

In recent times, Manufacturing has become one of the fastest growing sectors in India. Initiatives Like ‘Make in India’ and ‘Made in India’ by Prime Minister of India, Mr Narendra Modi, has made India, recognised as a destination for manufacturing and gave global recognition to the Indian economy.

 India is expected to become the fifth largest manufacturing country in the world by the end of year 2020.

The Government of India has set an ambitious target of increasing the contribution of manufacturing output to 25 per cent of Gross Domestic Product (GDP) by 2025, from 16 per cent currently.

India’s manufacturing sector has the potential to touch US$ 1 trillion by 2025 and account for 25-30 per cent of the country’s GDP and create up to 90 million domestic jobs by 2025.


TOP PLAYERS OF INDIA

  • Ashok Leyland
  • Bajaj Auto
  • TVS Motors
  • Hero Honda Motors Ltd.
  • Apollo Tyres
  • Asian Paints
  • BPL Group
  • Videocon Group
  • Larsen & Toubro
  • Jindal Steel
  • Hindustan Unilever Limited
  • Moser Baer

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India’s standing in the World:

In 2015-16, India has moved three places up as the Manufacturing Value Added (MVA) grew by 7.6 per cent in 2015, ranking India 6th among the top 10 Manufacturers of the world.

Currently, in the year 2016-17, as per Global Manufacturing Competitiveness Index, India ranks 11th in the manufacturing sector in the world. However it is projected to jump to 5th position by the year 2020.

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