Economy at Crossroads: Manufacturing Stagnation Casts Doubt on 'Make in India'

The Congress criticizes the recent GDP figures, highlighting an unimpressive growth in the manufacturing sector and questioning the effectiveness of the 'Make in India' initiative. BJP refutes these claims, underscoring high global growth rates. Manufacturing and export challenges are said to stem from policy shortfalls.

The Congress has voiced concern over the latest GDP figures, indicating a significant fall last quarter that underscores unimpressive manufacturing growth. This, they argue, reflects the failure of the 'Make in India' initiative, which they dubbed 'Make-believe in India'.

Congress General Secretary Jairam Ramesh, in a statement, pointed out that GDP growth fell dramatically in the July-September 2024 quarter. Notably, manufacturing growth slowed alarmingly to 2.2 percent, with export growth decelerating to 2.8 percent, challenging Prime Minister Modi's decade-old pledge to make India a manufacturing export hub.

Meanwhile, the BJP countered, alleging that the Congress's depiction of economic decline is misleading. BJP leader Amit Malviya criticized the Congress's claims, citing a 5.4 percent GDP growth rate as one of the highest globally.

(With inputs from agencies.)