Make in India 10th anniversary: PM Modi thanks all for ‘roaring success’ | India News

Modi shared specific examples to illustrate the tremendous progress over the past decade:

Mobile manufacturing: From just two mobile manufacturing units in 2014, India now boasts over 200, with mobile exports skyrocketing by an astonishing 7,500 per cent to Rs 1.2 trillion. Today, 99 per cent of the mobile phones used in India are made domestically, making India the second-largest mobile manufacturer in the world.

Steel industry: India has become a net exporter of finished steel, with production up by over 50 per cent since 2014.

Semiconductors: Investments worth over Rs 1.5 trillion have been made in the semiconductor manufacturing sector, with new plants set to produce more than 70 million chips daily.

Renewable energy & electric vehicles (EVs): India is now the fourth largest producer of renewable energy, with a 400 per cent increase in capacity over the last decade. The electric vehicle industry, almost non-existent in 2014, is now valued at $3 billion.

Defence exports: Defence production exports surged from Rs 1,000 crore to Rs 21,000 crore, with Indian-made products reaching over 85 countries.

Production-linked incentives

The PM also emphasised the role of the production-linked incentive (PLI) schemes, which have driven substantial investments and created lakhs of jobs, as well as the government’s efforts to enhance the ease of doing business.

Looking forward, Modi urged India’s youth to take Make in India to even greater heights, with a focus on quality and excellence. He emphasised that India is now seen as a key player in the global supply chain, blending democracy, demography, and demand to power global growth. Modi concluded with a vision of a nation that not only meets its own needs but serves as a manufacturing and innovation powerhouse for the world.

 

First Published: Sep 25 2024 | 5:33 PM IST