A Decade of Make in India: Goyal Champions Quality and Sustainability

Union Minister Piyush Goyal urged Indian industries to focus on high-quality goods to bolster Brand India and sustainable practices. Celebrating a decade of the Make in India initiative, Goyal engaged with CEOs of over 140 PLI beneficiary companies, discussing achievements, and future goals.

Marking the ten-year milestone of the Make in India initiative, Union Minister of Commerce & Industry Piyush Goyal called on Indian industries to prioritize high-quality production and sustainable practices to promote Brand India. Goyal interacted with CEOs of over 140 PLI beneficiary companies during a Sunday session to celebrate their accomplishments under the Production Linked Incentive (PLI) Scheme.

In his address, Goyal commended the contributions of PLI beneficiary companies in driving growth across crucial sectors, generating jobs, and positioning India as a global manufacturing powerhouse. He encouraged CEOs to enhance domestic value addition in their products and support local manufacturers to further India's self-reliance.

The three-hour interaction saw CEOs sharing their experiences, success stories, and suggestions for improving the PLI schemes. The discussion facilitated direct communication between industry leaders and the government. Goyal also sought feedback on decriminalising and liberalising laws to foster a business-friendly environment. By August 2024, investments of Rs1.46 lakh crore had been realised, with projections to reach Rs2 lakh crore. This has led to production and sales worth Rs12.50 lakh crore and the creation of around 9.5 lakh jobs, expected to rise to 12 lakh. Exports have exceeded Rs4 lakh crore, significantly driven by electronics, pharmaceuticals, and food processing.

In electronics, mobile phone manufacturing has tripled in exports since FY 2020-21. The pharmaceutical sector has boosted domestic output of bulk drugs and generics, cutting down import reliance. The automobile sector has seen global champions investing in electric vehicle production in India. Technology transfers in the medical devices industry have facilitated local production of critical equipment.

Sustainable agricultural practices in the food processing sector have led to the production of millet and organic products. Emerging sectors like drones have seen a sevenfold turnover increase, led by MSMEs and startups. Growth in the solar PV module and specialty steel industries has been bolstered by significant investments and localized production.

(With inputs from agencies.)