India's Manufacturing Shift: A Vision for 2047
NITI Aayog CEO BVR Subrahmanyam emphasizes transforming India's manufacturing sector to make the country a developed nation by 2047. Focus is on reducing dependency on agriculture and boosting manufacturing's GDP share. A National Manufacturing Mission is in the works to spearhead this transformation.
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- India
In a bid to propel India to developed nation status by 2047, NITI Aayog's CEO BVR Subrahmanyam is calling for a complete transformation of the country's manufacturing sector. This shift aims to reduce dependence on agriculture, which currently supports 42.3% of the population, according to the Economic Survey 2023-24.
Addressing a CII event, Subrahmanyam highlighted that 90% of India's manufacturing is concentrated in just 5-6 states, suggesting a need to expand manufacturing capabilities across the nation. Noting China's central role in global supply chains, he urged India to follow suit and enhance its manufacturing footprint.
A National Manufacturing Mission, a topic mentioned in Finance Minister Nirmala Sitharaman's Budget 2025-26 speech, is nearing announcement. This mission aims to bolster manufacturing from 12% to 23% of India's GDP over two decades, with a powerful body overseeing the effort to ensure actionable outcomes.
(With inputs from agencies.)
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