India is setting its sights on becoming a developed nation by 2047, and at the heart of this vision lies the National Manufacturing Mission. Unveiled by BVR Subrahmanyam, CEO of NITI Aayog, during the Annual Business Summit of the Confederation of Indian Industry (CII) in New Delhi, this mission aims to transform India’s manufacturing landscape and drive economic growth.
Key Highlights of the National Manufacturing Mission
- Unified Vision for Manufacturing: The mission seeks to align various ministries, state governments, private players, and policies under a single, cohesive framework to bolster manufacturing in India.
- Economic Ambitions: Aiming for a $7.5 trillion manufacturing GDP by 2047, which would constitute 25% of the projected $30 trillion economy.
- Job Creation and Innovation: Recognizing manufacturing as a catalyst for large-scale employment, innovation, and productivity, essential for sustaining long-term growth.
Strategic Focus Areas
- Targeted Industrial Infrastructure: Developing sector-specific special economic zones, integrated logistics hubs, dedicated power supplies, and industrial parks to attract global manufacturing giants.
- Empowering SMEs: Strengthening small and medium enterprises, which form the backbone of India’s manufacturing sector, through support in technology adoption, skill development, and access to finance.
- Skill Development: Investing in workforce training programs to equip individuals with the necessary skills for modern manufacturing processes.
