India's Resurgence as a Global Manufacturing Powerhouse

India's Resurgence as a Global Manufacturing Powerhouse\n\nTwelve years ago, on September 25, 2014, the Indian government launched the 'Make in India' initiative with the ambitious goal of transforming the nation into a global hub for manufacturing, design, and innovation. Today, the initiative focuses on 27 sectors, including 15 in manufacturing and 12 in services.\n\nOne of the most remarkable success stories of the 'Make in India' initiative is the surge in electronics production. According to official data, electronics production in India has increased nearly sevenfold, from Rs 1.9 lakh crore in 2014-15 to Rs 13.11 lakh crore in 2025-26. This remarkable growth has propelled India to the second-largest mobile phone manufacturer by volume, with mobile-phone production rising approximately 33-fold, from Rs 18,000 crore to Rs 6.27 lakh crore over the same period.\n\nThe 'Make in India' initiative has also had a significant impact on the defence sector. Defence production has risen to a record Rs 1.78 lakh crore in FY 2025-26, a testament to India's growing capabilities in indigenous defence manufacturing.\n\nIn addition to electronics and defence, the 'Make in India' initiative has also had a significant impact on the automotive sector. Vehicle production reached 31.03 million units in 2024-25, a 33 per cent increase from 2014-15. Several vehicle segments also recorded significantly higher production in 2024-25 compared with 2020-21.\n\nThe pharmaceutical industry has also seen significant growth under the 'Make in India' initiative. The industry today ranks third globally by volume and 11th by value, with an annual turnover of Rs 4,71,898 crore in 2024-25, a 9.5 per cent CAGR since 2020-21. Domestic manufacturing of medical devices has also risen by 48.2 per cent, from Rs 28,000 crore in 2019-20 to Rs 41,500 crore in 2024-25.\n\nThe 'Make in India' initiative has also had a significant impact on the steel sector. Crude steel production has increased from 81.7 million tonnes in 2014-15 to 170.0 million tonnes in 2025-26. Indian Railways has also seen significant growth, manufacturing 54,809 coaches over 2014-24, with an average annual railway coach production rising from less than 3,300 during 2004-14 to 5,481 during 2014-24.\n\nIn 2025-26, Indian Railways produced 1,674 locomotives, a testament to the country's growing manufacturing capabilities. The manufacturing Gross Value Added (GVA) at constant prices recorded a compound annual growth rate of 10.88 per cent between 2022-23 and 2025-26 under the revised national accounts series.\n\nIndustrial output provides another indication of recent growth. The manufacturing component of the Index of Industrial Production (IIP) increased by 7.0 per cent during April-July 2026 compared with the corresponding period of 2025, said the factsheet. Notably, production across heavy engineering equipment and various capital goods sub-sectors increased from Rs 2,87,233 crore in 2019-20 to Rs 5,69,900 crore in 2024-25 — nearly a twofold increase over the period.\n\nIn conclusion, the 'Make in India' initiative has achieved remarkable success in transforming India into a global manufacturing powerhouse. The initiative's focus on 27 sectors, including 15 in manufacturing and 12 in services, has led to significant growth in various industries, including electronics, defence, automotive, pharmaceuticals, and steel. As India continues to grow and develop, the 'Make in India' initiative will remain a crucial driver of the country's economic growth and development.