India’s manufacturing sector records ₹14L cr output, ₹5.3L cr exports: DPIIT

India's manufacturing industry has reached a production output of ₹14 lakh crore and exports totaling ₹5.3 lakh crore, as stated by Amardeep Singh Bhatia, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT). Addressing the 20th CII Manufacturing Summit, Bhatia highlighted that this expansion has led to the generation of more than 11.5 lakh jobs.

Emphasizing the growth in mobile phone exports, which have exceeded ₹1.29 lakh crore since 2014, he mentioned that although manufacturing exports are on the rise, they still lag behind services exports, indicating potential for further growth.

The Confederation of Indian Industry (CII) highlighted the necessity for manufacturing to account for 25% of India’s GDP, up from the present 17%. The conference united policymakers, industry leaders, and specialists to explore the future direction of the sector.

Jamshyd N Godrej, Past President of CII and Chairman & Managing Director of Godrej & Boyce Mfg Co Ltd, noted that India has historically targeted a 25% contribution to GDP from manufacturing, yet reaching this goal continues to be a challenge. He noted that nations like Indonesia, Vietnam, and Thailand have more rapid product development cycles, establishing standards that India should aim to achieve.

Geetanjali Vikram Kirloskar, Chairperson and Managing Director of Kirloskar Systems Ltd, emphasized the significance of a robust supply chain in fostering the expansion of manufacturing. She pointed out that effective logistics and supply chain systems are essential for staying competitive.

Swati Salgaocar, Chairperson of CII Western Region and President of V M Salgaocar and Brother Pvt Ltd, remarked that India’s manufacturing industry is progressing and holds the capability to achieve its targeted GDP contribution. She stressed that achieving success will rely on implementing sustainable and technology-based production methods.

Abheek Singhi, Senior Partner & Managing Director at BCG, emphasized that sustainability is increasingly vital in manufacturing. He emphasized the importance of incorporating digital technologies and adjusting to worldwide geopolitical and environmental factors.

Concluding the summit, Sunil Chordia, former Chairman of CII Western Region and Chairman & Managing Director of Rajratan Global Wire Ltd, highlighted the importance of implementing actionable measures to enhance India’s manufacturing ecosystem. He called for collaboration and creativity to develop a strong and competitive industry.