Recommended by: Rasananda Panda

Summar: Manufacturing-led transformation has been an important pathway to prosperity globally—employed by developed countries such as the US, Germany, and Japan or newly industrialised countries such as the Republic of Korea, Taiwan, and China. As India embarks on achieving its aspirations to achieve a developed country status by 2047, the manufacturing sector seems to be an answer to creating decent jobs for its youthful population and fostering inclusive prosperity. There is also a realisation that high dependence on imports of manufactured goods can compromise the nation’s strategic autonomy. Hence, the government has lined up a full bouquet of reforms, Make-in-India and PLI incentives, ease-of-doing business, industrial corridors and other infrastructure, and promotional measures.
The India Industrial Development Report 2024-25, takes stock of India’s manufacturing landscape, its strengths, weaknesses, opportunities, challenges, and policies adopted and emerging trends globally at the current juncture. It concludes that -- helped by the supportive policy, not only is the country well poised to harness the opportunities presented by the manufacturing sector but is gearing up to complement the dynamism of the services sector to realise the developed country vision by creating jobs for millions of its youthful population, driving inclusive and sustainable prosperity.

Contents:

1. The India@2047 Vision, Job Creation, and the Manufacturing Imperative: Towards a New Industrial Strategy for a New India

2. Changing Manufacturing Landscape: Industrial Structure, Jobs, Productivity, Scales, Financing, and Statistics

3. International Trade, Global Value Chains, and Foreign Direct Investments: Leveraging Global Economic Integration

4. Fostering Innovative Activity and Harnessing Industry 4.0

5. Green Industrial Policy and Corporate Sustainability: Opportunities, Challenges, and Policies

6. Harnessing the Potential of MSMEs and Startups for Industrialization

7. Industrial Corridors, Special Economic Zones, Cross-Border Connectivity, and Balanced Regional Development

8. Towards Manufacturing-Led Transformation: Identifying ‘what’ and ‘where’