Author: Treelife

Launched in 2014, the ‘Make in India’ (MII) initiative represents a cornerstone of the Indian government’s economic strategy, aiming to transform the nation into a global hub for manufacturing, design, and innovation. The initiative seeks to increase the manufacturing sector’s contribution to the Gross Domestic Product (GDP), attract significant foreign and domestic investment, foster innovation, build world-class infrastructure, and create large-scale employment opportunities.

Key components of the MII framework include a focus on improving the Ease of Doing Business (EoDB), liberalizing Foreign Direct Investment (FDI) policies, developing robust physical and digital infrastructure through programs like PM GatiShakti and the National Logistics Policy, and implementing targeted interventions such as the Production Linked Incentive (PLI) scheme across strategic sectors. The initiative is further supported by an interconnected ecosystem encompassing Skill India, Startup India, Digital India, taxation reforms (like the Goods and Services Tax – GST), and efforts towards harmonizing labor laws.

Over the past decade, MII has contributed to a significant rise in FDI inflows, notable improvements in India’s EoDB rankings, and substantial growth in specific manufacturing sectors, particularly electronics, defence, and pharmaceuticals, often catalyzed by the PLI scheme. However, challenges persist, including the unmet target of increasing manufacturing’s share in GDP to 25%, ensuring broad-based job creation commensurate with initial ambitions, bridging persistent skill gaps, and ensuring consistent implementation of reforms across states and sectors.

This report provides a comprehensive analysis of the Make in India initiative, detailing its origins, objectives, framework, focus sectors, and key schemes like PLI. It examines the procedures for investment, the legal and regulatory landscape, the role of supporting ecosystem initiatives, and assesses the overall impact through statistical data and sector-specific case studies. The report concludes with an outlook on the future trajectory of India’s manufacturing ambitions and potential considerations for stakeholders.

Introduction: The Genesis and Vision of Make in India

Context: India’s Economic Landscape Pre-2014

The launch of the Make in India initiative occurred during a period of considerable economic concern for India. After years of robust growth averaging around 7.7% between 2002 and 2011, India’s GNP growth rate had decelerated significantly, hovering around 5% in 2013 and 2014.¹ The optimism surrounding emerging markets had waned, and India found itself labelled as one of the ‘Fragile Five’ economies, perceived as vulnerable to global economic shocks.² This slowdown raised questions among global investors about India’s potential and prompted domestic concerns about sustaining the country’s development trajectory.³ The lagging manufacturing sector was identified as a key area needing revitalization to spur broader economic growth and create employment.⁴ India seemed poised on the brink of economic challenges, necessitating a significant policy push.³

The timing and stated goals of MII suggest it was not merely a promotional campaign but a strategic response aimed at addressing these perceived economic vulnerabilities. The ambitious targets set for manufacturing’s GDP contribution and job creation point towards an intention to engineer a structural shift in the economy, reducing over-reliance on the services sector and building greater industrial resilience.⁵

Launch and Core Objectives

Against this critical backdrop, the Make in India initiative was formally launched by Prime Minister Narendra Modi on September 25, 2014.¹ Its overarching vision was to transform India into a leading global destination for design and manufacturing.² The core objectives articulated were multi-fold:

• Facilitate Investment: Attract both domestic capital and Foreign Direct Investment (FDI) into the manufacturing sector.¹
• Foster Innovation: Encourage research, development, and the adoption of new technologies within Indian industries.²
• Build Best-in-Class Infrastructure: Develop modern physical and digital infrastructure to support manufacturing and logistics.²
• Create Employment: Generate substantial job opportunities, particularly in the manufacturing sector, with an initial target of creating 100 million additional manufacturing jobs by 2022.²
• Increase Manufacturing’s GDP Share: Raise the contribution of the manufacturing sector to India’s GDP to 25% by 2022 (a target later revised to 2025).⁵
• Enhance Skill Development: Upgrade the skills of the Indian workforce to meet the demands of modern manufacturing.¹¹
• Protect Intellectual Property: Strengthen the framework for protecting intellectual property rights.¹³

The ‘Make in India’ Philosophy

Beyond being an economic program or a marketing slogan (‘Goodbye red tape, hello red carpet’ ¹), Make in India was presented as representing a fundamental shift in the government’s approach towards industry.³ It signified a move away from a purely regulatory role towards becoming a facilitator and partner in economic development, embodying the principle of ‘Minimum Government, Maximum Governance’.³ This involved a comprehensive overhaul of outdated policies and processes.³ The emphasis on changing the governmental mindset suggests an official acknowledgment that previous administrative and policy environments were perceived as impediments to industrial growth, necessitating internal process re-engineering alongside external promotion efforts.³

MII was positioned as a pioneering ‘Vocal for Local’ initiative, aimed at showcasing India’s industrial potential globally while boosting domestic capabilities.² It served as a galvanizing call to action for India’s citizens, business leaders, and potential international partners.³ An underlying theme was the pursuit of quality and environmental consciousness, encapsulated in the slogan ‘Zero Defect, Zero Effect’, aiming for products manufactured without defects and without adverse environmental impact.²⁹

Decoding the Make in India Framework

The Make in India initiative is structured around four key pillars, designed to create a synergistic effect boosting entrepreneurship and manufacturing.¹³

The Four Pillars

1. New Processes: This pillar emphasizes ‘Ease of Doing Business’ (EoDB) as the paramount factor for promoting entrepreneurship.² The core idea is to simplify, de-license, and de-regulate industrial processes throughout the entire lifecycle of a business, from setup to operation and closure.¹² This involves streamlining approvals, reducing compliance burdens, and making the regulatory environment more predictable and investor-friendly.
2. New Infrastructure: Recognizing that modern, facilitating infrastructure is crucial for industrial growth, this pillar focuses on its development.¹² The government articulated its intent to develop dedicated Industrial Corridors and Smart Cities equipped with state-of-the-art technology, high-speed communication networks, and integrated logistics arrangements.¹² The plan also included strengthening existing infrastructure within industrial clusters.¹³ This pillar directly links to subsequent large-scale programs like PM GatiShakti and the National Logistics Policy.
3. New Sectors: The initiative initially identified 25 key sectors (later expanded to 27) spanning manufacturing, infrastructure, and service activities as focus areas.¹² Detailed information on opportunities, policies, and contacts within these sectors was disseminated through brochures and a dedicated web portal.³ Significantly, FDI was liberalized in several critical sectors, including Defence Production, Construction, and Railway infrastructure, signaling openness to foreign capital and technology.¹²
4. New Mindset: This pillar signifies a fundamental shift in the government’s interaction with industry.¹² Moving away from a purely regulatory stance, the government positioned itself as a facilitator and partner in the country’s economic development.³ This involved fostering a collaborative model, bringing together Union Ministries, State Governments, industry leaders, and knowledge partners to formulate action plans and drive the initiative.¹³

The explicit articulation of these four pillars demonstrates a structured, holistic approach. It recognizes that improvements in the regulatory environment (‘New Processes’), physical connectivity (‘New Infrastructure’), targeted sector promotion (‘New Sectors’), and government engagement (‘New Mindset’) are interconnected and mutually reinforcing elements necessary for boosting manufacturing.

Evolution: Make in India 1.0, 2.0, and Future Directions

The Make in India initiative has evolved since its inception:

• Make in India 1.0 (2014-2019): This initial phase focused largely on studying the landscape, pitching opportunities, and identifying critical bottlenecks within various sectors. The ‘Steering Committee for Advanced Local Value-add & Exports’ (SCALE) was formed under the Ministry of Commerce to pinpoint issues hindering manufacturing growth.¹⁴ Policy reforms aimed at building competitiveness were initiated.¹⁴
• Make in India 2.0 (2019-2024): This phase shifted towards concrete action and implementation of policies formulated earlier.¹⁴ Key actions included a significant reduction in corporate tax rates for new manufacturing units (to 15%) to enhance competitiveness, particularly within the Southeast Asian context.¹⁴ The initiative’s scope was formally expanded to cover 27 focus sectors.² Major schemes like the Production Linked Incentive (PLI) were introduced during this phase.¹⁶
• Make in India 3.0 (Proposed): While not formally launched, future directions point towards deepening the initiative’s impact.⁶ Proposed focus areas include aggressive export promotion strategies, strengthening India’s integration into global supply chains (addressing resilience highlighted by global disruptions), linking manufacturing growth with urban planning strategies, and developing mechanisms to enhance supply chain resilience against shocks like pandemics or geopolitical tensions.⁶

This evolution from planning (1.0) to implementation (2.0) and a proposed future focus on global integration and resilience (3.0) suggests an adaptive strategy. The initiative appears to be learning from initial outcomes and responding to changing global economic dynamics, moving beyond basic promotion to tackle more complex structural and international challenges.⁶

Governance Structure

The implementation of Make in India involves several key government bodies and agencies:

• Ministry of Commerce and Industry (MoCI): The nodal ministry overseeing the initiative.⁴
• Department for Promotion of Industry and Internal Trade (DPIIT): The core department within MoCI, responsible for coordinating action plans for the manufacturing sectors.¹¹ DPIIT formulates overall industrial policy, FDI policy, drives EoDB reforms, manages the Startup India initiative, and oversees Intellectual Property Rights administration.¹
• Department of Commerce (DoC): Coordinates action plans for the service sectors included under MII 2.0.²⁰
• Invest India: Established in 2009 as the National Investment Promotion and Facilitation Agency (NIPFA), a non-profit under DPIIT.³¹ It acts as the first point of contact for investors, providing end-to-end support throughout the investment lifecycle, including pre-investment advisory, facilitation (location assessment, incentive advice, government liaison, site visits, single-window support), and aftercare.¹ It plays a crucial role in bridging the gap between industry and government.³¹
• Empowered Group of Secretaries (EGoS) & Project Development Cells (PDCs): Constituted in 2020 to support, facilitate, and provide an investor-friendly ecosystem, particularly for fast-tracking significant investment proposals.¹¹

Focus Sectors: Opportunities Across the Board

Under Make in India 2.0, the government identified 27 specific sectors as priority areas for development, aiming to leverage India’s strengths and attract investment across a diverse range of industries.² These sectors are broadly categorized into manufacturing and services, with coordination handled by DPIIT and the Department of Commerce, respectively.²⁰

The inclusion of a significant number of service sectors within an initiative primarily aimed at boosting manufacturing underscores a broader economic development perspective. It acknowledges the critical interdependencies between goods production and supporting services like logistics, IT, finance, design, and R&D. A competitive manufacturing sector requires a robust service ecosystem, and conversely, a thriving service sector often supports and enables manufacturing growth. This integrated approach aims to strengthen the entire value chain, not just isolated factory operations.

Table 1: Make in India – 27 Focus Sectors

(Source: Derived from ⁴)

The Production Linked Incentive (PLI) Scheme: Catalyzing Growth

Rationale and Objectives

Introduced in March 2020 and expanded subsequently, the Production Linked Incentive (PLI) scheme has emerged as a central pillar of the government’s ‘Atmanirbhar Bharat’ (Self-Reliant India) vision and a key implementation tool for the Make in India initiative.² It represents a significant strategic shift from the broad promotional activities of MII 1.0 towards a more targeted, incentive-driven industrial policy focused on specific sectors deemed critical for national self-reliance and global competitiveness.³⁰

The PLI scheme aims to achieve several interconnected objectives:

• Make domestic manufacturing globally competitive.³⁰
• Attract large-scale investments, particularly in high-technology and strategic sectors.²
• Boost exports of high-value-added products.²
• Reduce dependence on imports for critical goods and components.⁸
• Generate significant employment opportunities.¹⁶
• Integrate Indian manufacturers into global supply chains.¹⁶
• Encourage adoption of cutting-edge technologies and achieve economies of scale.⁴⁷

Budget Outlay

The government committed a significant financial outlay of ₹1.97 lakh crore (approximately US$24-28 billion) for the PLI schemes across 14 sectors, typically spread over a five-to-six-year incentive period.² An additional allocation of ₹19,500 crore was made specifically for the High Efficiency Solar PV Modules PLI scheme in the 2022-23 budget.³⁰

The 14 PLI Sectors

The PLI scheme strategically targets 14 key sectors identified as critical for India’s industrial growth, technological advancement, and self-reliance.

Table 2: Production Linked Incentive (PLI) Scheme – 14 Target Sectors

(Source: Derived from ²)

Core Mechanism

The defining feature of the PLI scheme is its performance-linked incentive structure.⁴⁷ Eligible companies receive financial incentives calculated as a percentage (typically ranging from 4% to 6%, but varying significantly by sector, year, and product category) of their incremental sales or production value achieved over a pre-defined base year (commonly FY 2019-20).¹⁴ This incentive is provided for a specified duration, usually five consecutive years, subsequent to the base year.³⁰ In essence, the scheme functions as a direct payment or subsidy rewarding increased domestic manufacturing output.³⁰

General Eligibility Criteria

While specific criteria vary by sector, general eligibility requirements typically include:

• Company Registration: The applicant must be a company registered in India.³⁰
• Manufacturing Focus: The company must be involved in the manufacturing of goods covered under the specific target segments of the relevant PLI scheme.³⁰
• Incremental Investment Threshold: Applicants must meet minimum thresholds for new or incremental investment in eligible assets (like plant, machinery, equipment, R&D, technology transfer) over the base year. Expenditure on land and buildings is generally excluded.³⁰ Thresholds can differ for MSMEs versus larger companies (e.g., ₹10 crore vs ₹100 crore mentioned generally).⁶³
• Incremental Sales Threshold: Eligibility is often contingent on achieving minimum incremental sales of the manufactured goods over the base year.³⁰
• Domestic Value Addition (DVA): Some schemes mandate a minimum percentage of domestic value addition in the manufactured products to qualify for incentives, encouraging deeper localization. For example, the Auto PLI scheme requires a 50% DVA.⁵⁵ This requirement directly supports the MII objective of reducing import dependence by incentivizing local sourcing and component manufacturing, moving beyond simple assembly operations.³⁰
• Other Criteria: Specific schemes may have additional criteria related to global/domestic manufacturing revenue, net worth, or technical qualifications.⁵⁵

Deep Dive into Key PLI Sectors

• Large Scale Electronics Manufacturing (LSEM) / IT Hardware: This was among the first sectors targeted.

• Target Segments: Include mobile phones (especially those with invoice value >₹15,000), specified electronic components (SMT, semiconductors, PCBs, sensors etc.), and under PLI 2.0 for IT Hardware: laptops, tablets, all-in-one PCs, servers, and ultra-small form factor devices.⁶²
• Incentives: For mobile phones, incentives typically started at 6% in the first year, decreasing to 4% by the fifth year, applied to incremental sales over the base year (FY 2019-20).⁶² IT Hardware PLI 2.0 offers incentives over six years.⁸¹
• Eligibility: Involves meeting thresholds for incremental investment and sales, varying by category (global, hybrid, domestic) and year.⁶²
• Impact: This scheme is credited with transforming India from a net importer to a net exporter of mobile phones.¹⁶ Domestic production surged from 5.8 crore units in FY15 to 33 crore units in FY24, while imports plummeted and exports reached nearly 5 crore units.¹⁴ FDI in the sector saw a ~254% increase post-PLI inception.⁴⁷ Major global players like Apple, Samsung, and contract manufacturers like Foxconn and Pegatron have significantly expanded their Indian operations under this scheme.¹⁴
• Automotive & Auto Components:

• Outlay & Focus: Budgetary outlay of ₹25,938 crore (over US$3 billion).⁴⁷ The scheme focuses on promoting the manufacturing of Advanced Automotive Technology (AAT) products, with a strong emphasis on Battery Electric Vehicles (BEVs) and Hydrogen Fuel Cell Vehicles (HFCVs) and their components.⁶⁰ Traditional ICE vehicle components may receive lower incentives in later years.⁷⁸
• Structure: Comprises two components: Champion OEM Incentive Scheme (for vehicle manufacturers) and Component Champion Incentive Scheme (for auto part makers).⁷⁶
• Eligibility: Separate criteria exist for existing automotive players (based on global group revenue and investment in fixed assets) and new non-automotive investors (based on global net worth and committed investment plan).⁷¹ Minimum cumulative new domestic investment thresholds must be met over the 5-year period.⁷⁶ A crucial requirement is achieving a minimum 50% Domestic Value Addition (DVA) in the eligible AAT products, certified by testing agencies following a standard operating procedure.⁶⁴
• Incentive Calculation: Incentives are calculated based on the ‘Determined Sales Value’ (incremental eligible sales over the base year FY 2019-20). Incentive rates are tiered based on the determined sales value, ranging from 13-16% for OEMs and 8-11% for component manufacturers. Additional incentives (2-5%) are available for achieving cumulative sales targets or manufacturing BEV/HFCV components.⁷¹ A minimum 10% year-on-year growth in Determined Sales Value is generally required to claim incentives.⁷⁵
• Impact: The scheme has attracted significant interest, with 115 applications received and 85 approved (as of Aug 2024).⁴⁸ Investment commitments reportedly exceeded targets, potentially reaching US$8 billion (₹67,690 crore).⁴⁸ As of December 2024, reported cumulative investment was ₹25,219 crore, generating incremental sales of ₹15,230 crore and creating 38,186 jobs. Incentive disbursement stood at ₹322 crore as of March 2025.⁶⁴
• Pharmaceuticals / Medical Devices / Bulk Drugs:

• Impact: PLI schemes in these areas have bolstered India’s status as the ‘Pharmacy of the World’, ranking it third largest globally by volume.⁴⁷ Exports constitute about 50% of production.⁴⁷ A key achievement has been the reduction in import dependency for critical raw materials, with domestic manufacturing of unique intermediates and bulk drugs like Penicillin G commencing in India.⁴⁷ The scheme also facilitated technology transfer from global firms for producing sophisticated medical devices locally, such as CT scanners and MRI machines, covering 39 types of devices.⁴⁸
• Schemes: Separate PLI schemes exist for Bulk Drugs, Medical Devices, and Pharmaceuticals.²⁹
• Other Sector Examples:

• Telecom & Networking Products: Achieved 60% import substitution; global giants setting up manufacturing, making India an exporter of 4G/5G equipment.⁴⁷ PLI scheme outlay is ₹12,195 crore.⁷²
• Drones & Drone Components: Sector turnover increased seven-fold, driven largely by MSMEs and startups benefiting from the PLI.³⁰
• Food Products: PLI scheme (PLISFPI) with ₹10,900 crore outlay focuses on segments like Ready-to-Eat/Cook foods (including millets), processed fruits/vegetables, marine products, mozzarella cheese, and supports branding/marketing abroad.¹⁴
• High Efficiency Solar PV Modules: Implemented in two tranches with a total outlay of ₹24,000 crore (₹4,500 Cr Tranche-I, ₹19,500 Cr Tranche-II) aiming to build GW-scale integrated manufacturing capacity and reduce import dependence.⁸ Letters of Award issued for significant capacity addition.⁸³

How to Apply

The application process for PLI schemes is generally managed online through dedicated portals set up by the respective implementing Ministries or designated Project Management Agencies (PMAs).

• Portals/Agencies: Examples include the Ministry of Electronics and Information Technology (MeitY) portal or its PMA (IFCI Ltd for LSEM) ⁶², the Ministry of Heavy Industries (MHI) PLI Auto Portal ⁸⁰, the Ministry of Food Processing Industries (MoFPI) PLISFPI Portal ⁶⁶, Mecon Limited for Specialty Steel ⁸⁶, Solar Energy Corporation of India (SECI) or Indian Renewable Energy Development Agency (IREDA) for Solar PV modules ⁸³, and the Department of Pharmaceuticals portal (managed by SIDBI) for Medical Devices.⁶⁷
• Process: Typically involves online registration, filling detailed application forms (company details, investment plans, production targets), uploading required documents (registration certificates, financial statements etc.), and payment of a non-refundable application fee.⁶²
• Approval: Applications undergo scrutiny by the PMA, followed by review by a Technical Committee, and final approval by an Empowered Committee (EC) or similar body within the Ministry. The process aims for defined timelines (e.g., 60 days assessment mentioned for one scheme).⁶²
• Disbursement: Incentives are disbursed periodically (quarterly, half-yearly, or annually) after the company submits claims and the PMA verifies eligibility based on achieved incremental sales and investment thresholds.⁶²

PLI Achievements Summary

The PLI schemes, across the 14 sectors, have shown considerable traction in attracting investment and boosting manufacturing output, although disbursements took time to ramp up.

Table 3: PLI Scheme Performance Snapshot (as of late 2024 / early 2025)

Note: Figures represent cumulative data reported across various sources and dates. Investment realized and production generated figures reflect progress, while disbursements represent actual incentives paid out based on performance verification.

The reported metrics, especially the high investment commitments and production figures relative to the incentive outlay, suggest that the PLI mechanism has been effective in mobilizing capital and scaling up manufacturing in targeted sectors like electronics and auto. However, the disbursement figures, particularly in the initial years ⁵⁴, were relatively low compared to the potential incentives earned, possibly indicating lags in project commissioning, meeting performance thresholds, claim submission, or verification processes. This highlights the importance of efficient scheme administration alongside attractive incentives.

Navigating the Make in India Ecosystem: Procedures and Benefits

Successfully participating in the Make in India initiative requires understanding the facilitative mechanisms, regulatory policies, and available incentives. The government has undertaken numerous reforms aimed at creating a more conducive environment for manufacturing investment.

Investment Facilitation

• Ease of Doing Business (EoDB): Improving the business climate has been a central theme of Make in India.² India made significant strides in the World Bank’s EoDB rankings, reaching 63rd position among 190 countries in the 2019 report (the report series was later discontinued).⁶ Key reforms contributing to this include the implementation of the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), simplification of construction permits, and a massive reduction in compliance burdens (over 42,000 compliances reportedly reduced and 3,800 provisions decriminalized).¹⁵ Decriminalization efforts, such as under the Jan Vishwas Act, aim to reduce the fear of minor procedural lapses leading to severe penalties.¹⁶
• Single Window Systems: To streamline the complex approval process involving multiple central and state agencies, single window systems have been established. The National Single Window System (NSWS) provides a unified digital platform for investors to apply for various pre-establishment and pre-operation approvals.¹⁹ Invest India also functions as a key facilitator offering single-window clearance support.³¹ Many states have also implemented their own single window clearance mechanisms.⁸⁹
• Investor Support Mechanisms:

• Invest India: As the national agency, Invest India provides comprehensive, free-of-cost support across the investment lifecycle. This includes pre-investment advisory, market research, policy guidance, strategic location assessment based on investor needs, incentive advisory, handholding for approvals, facilitating meetings with government officials, organizing site visits, and providing aftercare support for issue resolution and expansion plans.³¹ They have established international offices (e.g., Singapore, Dubai, Zurich, Saudi Arabia) to offer doorstep services to foreign investors.⁴⁰ A specific example cited is Invest India assisting robotics firm Addverb Technologies in securing land and fast-tracking clearances in Uttar Pradesh.⁴⁵
• Investor Facilitation Cell: Set up in 2014 to assist investors throughout their journey in India.⁶
• Project Monitoring Group (PMG): Housed within Invest India, this institutional mechanism focuses on expediting the resolution of issues and regulatory bottlenecks for large projects with investments exceeding INR 500 Crore.³¹
• Empowered Group of Secretaries (EGoS) & Project Development Cells (PDCs): Established to fast-track high-priority investments and proactively develop investible projects within ministries.¹¹

Foreign Direct Investment (FDI) Policy

India maintains a generally liberal FDI policy, aiming to attract foreign capital, technology, and expertise to fuel economic growth, particularly under the Make in India initiative.

• Investment Routes:

• Automatic Route: FDI is permitted without prior government approval in most sectors. Investors only need to notify the Reserve Bank of India (RBI) post-investment and comply with sectoral regulations.¹⁵ Over 90% of FDI inflows are received through this route.¹⁹
• Government Route (Approval Route): Prior approval from the concerned administrative Ministry/Department, with concurrence from DPIIT, is required for FDI in specified sensitive sectors or under certain conditions.¹⁵

• Sectoral Caps and Conditions: While 100% FDI is allowed under the automatic route for most manufacturing activities and many other sectors ⁵, specific caps and conditions apply in certain areas. (See Table 4 below). Prohibited sectors include atomic energy, lottery business, gambling and betting, chit funds, nidhi companies, trading in Transferable Development Rights (TDRs), real estate business (with some exceptions), and manufacturing of tobacco products.⁴²
• Press Note 3 (2020): A significant policy change mandated that any FDI from entities based in countries sharing a land border with India, or where the beneficial owner is situated in or is a citizen of such a country, requires prior government approval, irrespective of the sector or route.¹⁵ This requires clearance from the Ministry of Home Affairs (MHA).⁴²
• Policy Administration: DPIIT is responsible for formulating and consolidating the FDI policy, typically issuing an updated policy document annually.⁷ The Foreign Exchange Management Act (FEMA), 1999, and its rules/regulations, administered by the RBI and Ministry of Finance, govern the foreign exchange aspects of FDI.⁴²

Table 4: FDI Policy Snapshot for Key Manufacturing-Related Sectors

(Source: Derived from.⁵ Note: FDI policy is dynamic; investors must consult the latest official Consolidated FDI Policy document issued by DPIIT.)

Taxation Landscape

The tax regime is a critical factor influencing manufacturing investment decisions. India has undertaken significant reforms in both indirect and direct taxation.

• Goods and Services Tax (GST): Implemented on July 1, 2017 ⁹², GST replaced a complex web of central and state indirect taxes (like Excise Duty, VAT, Service Tax, CST, Entry Tax) with a unified, destination-based tax system.¹
• Impact on Manufacturing: GST is widely seen as beneficial for the manufacturing sector. Key positive impacts include:

• Reduced Logistics Costs & Time: Elimination of interstate check posts and cascading taxes like CST has streamlined the movement of goods, reducing transit times and logistics expenses.⁹²
• Supply Chain Efficiency: Uniform tax rates across states enable companies to optimize warehouse locations based on logistics efficiency rather than tax arbitrage, potentially leading to consolidation and cost savings.⁹⁴
• Reduced Tax Cascading: GST allows for input tax credits across the value chain, ensuring tax is levied primarily on value addition at each stage, mitigating the ‘tax on tax’ effect prevalent earlier.⁹²
• Enhanced Competitiveness: Simplified compliance (though initially challenging) and reduced operational complexities allow manufacturers to focus more on core activities like production quality and market expansion.⁹²

• Challenges: Initial implementation faced hurdles including compliance burdens, particularly for Small and Medium Enterprises (SMEs), the need for digital record-keeping, frequent changes in rates and rules, and technical issues with the GST Network (GSTN) portal.⁹²
• SEZs: Supplies of goods or services to SEZ developers or units are treated as zero-rated under the IGST Act, meaning no GST is levied, providing a significant benefit.⁸⁹

• Corporate Tax Reforms: To make India more competitive globally, the government significantly reduced corporate income tax rates in 2019.¹⁴ Notably, a concessional tax rate of 15% (plus surcharge and cess) was introduced for new domestic manufacturing companies incorporated on or after October 1, 2019, and commencing production before March 31, 2024 (deadline may be subject to extension), provided they do not avail certain other exemptions or incentives.¹⁴ Existing companies were also given the option to switch to a lower rate of 22% (plus surcharge and cess) if they forgo specified exemptions.
• Tax Incentives:

• Special Economic Zones (SEZs): Units established in SEZs are eligible for significant tax benefits, including duty-free import or domestic procurement of goods for their operations.⁷⁹ Under Section 10AA of the Income Tax Act, SEZ units could claim 100% exemption on export profits for the first 5 years, 50% for the next 5 years, and a further 50% on reinvested export profits for the subsequent 5 years. However, a ‘sunset clause’ stipulated that this benefit is available only for units that commenced operations on or before March 31, 2020.⁸⁹ Benefits for SEZ developers under Section 80-IAB also had a sunset date (April 1, 2017).⁸⁹ Exemptions from Minimum Alternate Tax (MAT) and Dividend Distribution Tax (DDT) for SEZs were withdrawn earlier.⁸⁹
• Startup Incentives: Eligible startups (meeting criteria related to incorporation date, turnover, innovation, and certification) can claim a 100% tax deduction on profits for any 3 consecutive years within their first 10 years of incorporation under Section 80-IAC of the Income Tax Act.⁶ Provisions also exist for exemption from ‘Angel Tax’ (tax on share premium received above Fair Market Value) subject to conditions ³⁸, and capital gains tax exemption for individuals/HUFs investing proceeds from residential property sales into eligible startup equity (Section 54GB).⁹⁷
• Research & Development (R&D): While specific current deduction rates require verification beyond the provided snippets, R&D expenditure is generally encouraged through tax incentives.²⁶ PLI schemes also often consider R&D expenditure as eligible investment.⁶²
• Customs Duty Measures: Besides exemptions for SEZs, schemes like the Export Promotion Capital Goods (EPCG) scheme allow duty-free import of capital goods for export production, subject to export obligations.⁶ The Phased Manufacturing Programme (PMP) strategically uses customs duties, increasing them on finished goods or components over time to incentivize domestic manufacturing and localization.²⁰

Intellectual Property Rights (IPR)

Protecting innovation is vital for a manufacturing-led growth strategy. India has a comprehensive IPR framework and has taken steps to strengthen it.

• Legal Framework: India’s IPR regime is governed by several key statutes, including The Patents Act, 1970 (as amended, notably in 2005); The Trade Marks Act, 1999; The Copyright Act, 1957 (as amended, notably in 2012); The Designs Act, 2000; The Geographical Indications of Goods (Registration and Protection) Act, 1999; and The Semiconductor Integrated Circuits Layout-Design Act, 2000.⁷ India is also a signatory to international treaties like the Patent Cooperation Treaty (PCT) and the Madrid Protocol for international trademark registration, facilitating global protection for Indian entities.¹⁰⁰
• Administration: The Office of the Controller General of Patents, Designs & Trade Marks (CGPDTM), commonly known as Intellectual Property India (IPO India), operating under DPIIT, is the administrative body responsible for granting and registering patents, trademarks, designs, and geographical indications.⁶ The Copyright Office administers copyright law.¹⁰²
• Protection and Benefits: The legal framework provides statutory rights to creators and inventors, enabling them to control the commercial exploitation of their IP for a limited period.⁹⁹ Specific benefits are offered to startups under the Startup India initiative to encourage innovation, including an 80% rebate on patent filing fees, a 50% rebate on trademark filing fees, access to facilitators for free assistance, and provisions for expedited examination of patent applications.¹¹ The government also runs awareness programs like NIPAM (National Intellectual Property Awareness Mission).¹⁰² Recent legislative changes under the Jan Vishwas (Amendment of Provisions) Act, 2023, have aimed to decriminalize minor procedural offenses under the Patents Act, Trade Marks Act, and Geographical Indications Act, potentially simplifying compliance.⁴⁰ IPO India has also enhanced transparency through online tools tracking application status and providing real-time data.¹⁰⁰

Regulatory Compliance

Navigating the regulatory landscape is essential for manufacturers in India. Compliance requirements vary significantly depending on the industry.

Key Regulatory Bodies:

• Bureau of Indian Standards (BIS): India’s national standards body, responsible for developing standards and operating product certification schemes. Mandatory BIS certification is required for numerous products sold in India, enforced through Quality Control Orders (QCOs).²¹
• Central Drugs Standard Control Organisation (CDSCO): The national regulatory authority for pharmaceuticals and medical devices, under the Ministry of Health & Family Welfare. CDSCO is responsible for approving new drugs, clinical trials, setting standards, controlling imported drug quality, and granting licenses for manufacturing critical drugs (like vaccines, blood products) and Class C & D medical devices.⁸⁸ State Licensing Authorities (SLAs) handle manufacturing licenses for other drug categories and Class A & B medical devices.⁸⁸
• Telecom Regulatory Authority of India (TRAI): Regulates the telecommunications sector, including tariffs and service quality.¹⁰³
• Food Safety and Standards Authority of India (FSSAI): Regulates food products, including licensing for food businesses.¹²
• Other Sectoral Regulators: Include bodies for power, environment, atomic energy, etc..¹⁰³
• Approvals and Licenses: Manufacturers typically require various approvals, including factory licenses, environmental clearances, consent to establish and operate from pollution control boards, fire safety certificates, and sector-specific licenses (e.g., CDSCO manufacturing licenses under Medical Devices Rules, 2017 or Drugs & Cosmetics Act, 1940 ⁸⁸; FSSAI licenses ¹²). Construction permits and land use approvals are also critical.¹⁵ QCOs issued by various ministries mandate compliance with specific BIS standards for identified products before they can be manufactured, sold, or imported.²¹

The overall ecosystem reflects a dynamic mix of liberalization (like high FDI limits and corporate tax cuts) and targeted state intervention (PLI, PMP). Simultaneously, there are ongoing efforts to simplify the operating environment through EoDB reforms, GST implementation, single window systems, and the proposed consolidation of labor laws. Successfully navigating this landscape requires businesses to understand both the broad policy direction and the specific regulations, incentives, and procedures applicable to their sector, scale of operation, and chosen location(s) within India. While national EoDB rankings show improvement, the actual experience on the ground can vary significantly due to sector-specific rules (e.g., stringent pharma regulations ¹⁰⁴), investment size triggering different approval layers ⁴², and the varying pace at which different states adopt and implement central reforms.³⁵

Synergies: The Linked Eco-System Initiatives

The Make in India initiative does not operate in isolation. Its success is intrinsically linked to a range of complementary government programs aimed at strengthening various facets of the Indian economy and creating a supportive ecosystem for industrial growth. These initiatives work synergistically to address critical prerequisites for a thriving manufacturing sector.

A. Skill India Mission

Launched in July 2015 ²⁴, the Skill India Mission is fundamental to realizing MII’s goals by addressing the critical need for a skilled workforce.² Manufacturing, especially advanced manufacturing involving automation and precision engineering, requires workers proficient in specific technical skills.³³ India faces a recognized skill gap, where many individuals lack the practical, industry-relevant skills demanded by employers.⁸ Skill India aims to bridge this gap by providing vocational training and upskilling opportunities across numerous sectors, with ambitious targets like training over 400 million people by 2022 (initial goal).²⁴ Key components include the National Skill Development Corporation (NSDC) facilitating private sector participation, and schemes like Pradhan Mantri Kaushal Vikas Yojana (PMKVY) offering short-term training.²⁴ The mission focuses on aligning training with industry needs, promoting apprenticeships, and establishing skill development centers.²⁴ Equipping the workforce with skills relevant to Industry 4.0 (AI, robotics, digital manufacturing) is also a focus area.⁸ A readily available pool of skilled labor enhances India’s attractiveness for manufacturing investment.³³

B. Startup India Initiative

Launched in January 2016 ², the Startup India initiative aims to build a robust ecosystem for nurturing innovation, entrepreneurship, and new business ventures.² This directly supports the MII objective of fostering innovation.¹¹ Startups often drive technological advancements and can play a significant role in developing new products and processes within the manufacturing sector, particularly in emerging fields like drones, AI, and medtech.⁴⁷ Startup India provides a range of support measures, including:

• Funding Support: Fund of Funds for Startups (FFS) managed by SIDBI (₹10,000 crore corpus) investing in AIFs, and the Startup India Seed Fund Scheme (₹945 crore corpus) providing early-stage funding.¹¹
• Incubation & Mentorship: Support for incubators and learning/development programs.¹¹
• IPR Benefits: Rebates on patent and trademark filing fees, expedited patent examination.¹¹
• Tax Exemptions: Income tax exemption for eligible startups for 3 out of 10 years.¹¹
• Easier Public Procurement: Relaxation of prior experience/turnover norms and exemption from earnest money deposit for government tenders; dedicated platform on GeM (Government e-Marketplace).²⁵
• Simplified Compliance: Self-certification options under certain labor and environmental laws.²⁵ India has rapidly grown into the world’s third-largest startup ecosystem, with over 148,000 recognized startups creating more than 1.5 million direct jobs as of late 2024.²

C. Digital India & Industry 4.0

The Digital India programme, launched around 2014-15 1, aims to transform India into a digitally empowered society and knowledge economy. It provides the essential digital infrastructure – widespread internet connectivity, digital identity (Aadhaar), digital payments – that underpins the adoption of advanced manufacturing technologies.27 This initiative is a key enabler for Industry 4.0, the fourth industrial revolution characterized by the integration of cyber-physical systems, IoT, AI, big data analytics, cloud computing, robotics, and automation into manufacturing processes.27

Digital India facilitates the creation of ‘smart factories’ where machines communicate, processes are optimized in real-time using data analytics, quality control is enhanced through AI-driven vision systems, and supply chains become more transparent and efficient.27 This leads to increased productivity, reduced waste and downtime (e.g., through predictive maintenance), enhanced product quality, and greater flexibility to meet changing market demands.28 Government initiatives like the India Semiconductor Mission, aiming to build a domestic semiconductor and display ecosystem 2, and support for AI and robotics 109 further align MII with Industry 4.0 trends. The adoption of these digital technologies is seen as crucial for Indian manufacturing to become globally competitive.107

D. Infrastructure Overhaul

Addressing India’s historical infrastructure deficit is critical for manufacturing competitiveness. Several large-scale initiatives aim to create seamless connectivity and reduce logistics costs:

• PM GatiShakti National Master Plan: Launched in October 2021 ², GatiShakti is a transformative approach to infrastructure planning and execution. It’s a digital platform that integrates geospatial data and infrastructure project planning across multiple ministries (initially 16, later expanded) including Railways, Roads, Ports, Waterways, Aviation, Power, Telecom, etc..² Its core aim is to break down departmental silos, enable holistic and synchronized planning, optimize routes, avoid duplication, monitor projects in real-time, and ensure multimodal, last-mile connectivity to economic zones.² By improving coordination and reducing execution delays, GatiShakti aims to significantly lower India’s high logistics costs (estimated at 13-14% of GDP) and enhance the efficiency of moving goods and people, directly benefiting manufacturers.²
• National Logistics Policy (NLP): Launched in September 2022 ², the NLP complements GatiShakti by focusing on the ‘soft infrastructure’ aspects of logistics – improving processes, promoting technology adoption (digitization), enhancing regulatory frameworks, and developing skilled manpower in the logistics sector.² Key targets include reducing logistics costs as a percentage of GDP, improving India’s rank in the World Bank’s Logistics Performance Index (LPI) to among the top 25 countries by 2030, and creating a data-driven decision support system for the logistics ecosystem.²
• National Industrial Corridor Development Programme (NICDP): This ambitious program focuses on developing planned industrial regions with world-class infrastructure.² These corridors, such as the Delhi-Mumbai Industrial Corridor (DMIC), Chennai-Bengaluru Industrial Corridor (CBIC), Amritsar-Kolkata Industrial Corridor (AKIC), etc., aim to create globally competitive manufacturing clusters by providing high-speed transportation networks (road and rail), reliable power, integrated logistics hubs, and smart cities with supporting social infrastructure.⁹ Specific nodes like Dholera SIR (Gujarat), Shendra-Bidkin (Maharashtra), and Integrated Industrial Township Greater Noida (UP) are being developed under this program.¹¹⁴ These corridors are being developed within the framework of PM GatiShakti to ensure multimodal connectivity.¹¹⁴
• National Infrastructure Pipeline (NIP): Announced earlier, the NIP outlined a massive investment plan for infrastructure projects across various sectors (energy, roads, railways, urban infrastructure) over a multi-year period, providing a roadmap for infrastructure development supporting overall economic growth, including manufacturing.²⁰

The concerted push on infrastructure development, particularly through the integrated planning approach of GatiShakti and NLP, addresses a long-standing bottleneck for Indian manufacturing. High logistics costs and inefficient transport networks have historically hampered competitiveness. These initiatives, by focusing on both physical infrastructure and process improvements, offer the potential for a more tangible and significant boost to manufacturing efficiency compared to earlier MII phases that relied more heavily on promotion and incremental regulatory reforms.²

E. Taxation Regime (Integrated View)

As detailed in Section 6, the implementation of GST ¹ and the reduction in corporate tax rates ¹⁴ are integral parts of the ecosystem supporting Make in India. They collectively aim to simplify the tax structure, reduce the tax burden on manufacturers, lower operational and logistics costs, eliminate tax cascading, and improve overall competitiveness, thereby creating a more favorable fiscal environment for domestic production and investment.⁹²

F. Labour Law Harmonization

Recognizing that complex and archaic labor laws could impede EoDB and manufacturing growth, the government undertook a major reform by consolidating approximately 29-30 central labor laws into four comprehensive codes ³⁵:

1. The Code on Wages, 2019: Consolidates laws relating to wages, bonus payments, and equal remuneration. Introduces concepts like a national floor-level minimum wage and standardizes the definition of ‘wages’.¹¹⁶
2. The Code on Industrial Relations, 2020: Consolidates laws on trade unions, conditions of employment, and industrial disputes. Notably, it increases the threshold for requiring government approval for layoffs, retrenchment, and closure from 100 to 300 workers, potentially offering greater flexibility to employers.¹¹⁶ It also modifies regulations concerning strikes.¹¹⁹
3. The Code on Social Security, 2020: Consolidates laws related to social security benefits like provident fund, gratuity, employees’ insurance, and maternity benefits. Crucially, it aims to extend social security coverage to unorganized sector workers and platform/gig workers through specific schemes and dedicated funds/boards.¹¹⁶
4. The Code on Occupational Safety, Health and Working Conditions (OSHWC), 2020: Consolidates laws regulating workplace safety, health, and working conditions. It expands coverage to include contract workers and inter-state migrant workers, mandates formal appointment letters, and sets standards for working hours, leaves, and workplace safety protocols.³⁵

The stated objectives of these codes are to simplify compliance for businesses, improve EoDB, promote formalization of the workforce, enhance worker safety and welfare, and provide greater flexibility in labor deployment.³⁵ However, the implementation of these codes has been delayed. While the central government passed the codes, labor is a concurrent subject, requiring states to frame and notify their own rules for the codes to become effective nationwide.³⁵ As of early 2025, while many states had reportedly drafted rules, universal notification and a final implementation date were still pending.³⁵ Some trade unions have also expressed concerns, arguing that certain provisions, particularly in the Industrial Relations Code, could dilute worker protections.¹¹⁹ If and when implemented effectively, these codes have the potential to significantly impact the manufacturing landscape by simplifying the complex web of legacy regulations.³³

These interconnected initiatives demonstrate that the government views Make in India not just as a manufacturing policy, but as part of a broader economic transformation strategy. Success hinges on the effective functioning and synergy between these programs – manufacturing growth requires skilled people, innovative ideas, digital tools, efficient movement of goods, a fair tax system, and modern labor regulations.⁶

Assessing the Impact: Progress, Successes, and Challenges

A decade since its launch, the Make in India initiative has demonstrably influenced India’s economic trajectory, policy landscape, and global positioning. Assessing its impact requires examining key performance indicators, celebrating successes through specific examples, and acknowledging the persistent challenges.

Key Performance Indicators

• Foreign Direct Investment (FDI) Trends: MII aimed to attract significant investment, and FDI inflows have shown a marked increase. Total FDI inflow during the ten financial years FY 2015-24 reached approximately $667 billion, a 119% increase compared to the $304 billion received in the preceding decade (FY 2005-14).¹⁶ FDI equity inflow specifically into the manufacturing sector rose by 55% during 2014-2023 ($148.97 billion) compared to 2005-2014 ($96 billion).¹⁵ Recent data indicates continued robustness, with total FDI inflow at $70.97 billion in FY 2022-23 ⁴² and gross inflows reaching $55.6 billion in the first eight months of FY25 (April-Nov 2024), up 17.9% year-on-year.⁸⁴ Government officials express targets of attracting $100 billion in FDI annually in the coming years.¹⁹
• Manufacturing Share of GDP: A core objective was to increase the manufacturing sector’s contribution to GDP to 25% by 2022/2025.⁵ This target remains largely unmet. Data suggests the share has stagnated or even slightly declined, moving from around 16-17% in 2013-14 to approximately 15.9% in 2023-24.⁵ This is frequently cited as a key challenge or failure of the initiative to achieve its stated structural economic shift.⁵ Despite this, government officials remain optimistic about future growth in this share, buoyed by initiatives like PLI.¹⁹
• Employment Generation: While MII aimed for substantial job creation (100 million additional manufacturing jobs target by 2022 ⁵), specific data for employment generated directly under the MII banner is not centrally compiled.¹¹ However, associated schemes report significant numbers: the PLI schemes are estimated to have created 8 to 9.5 lakh direct and indirect jobs across 14 sectors ², and the Startup India initiative reports over 1.55 million direct jobs created by recognized startups.² Broader national employment data shows improvement, with the overall unemployment rate declining from 6.0% in 2017-18 to 3.2% in 2023-24 (July-June period) according to Periodic Labour Force Survey (PLFS) data cited in the Economic Survey.⁸⁴ However, some analyses suggest that the scale of manufacturing job creation has fallen short of initial expectations.⁸
• Export Growth: India’s overall exports (Merchandise + Services) achieved a record high of $778.21 billion in FY 2023-24, marginally surpassing the previous year’s record despite global headwinds.¹⁹ Merchandise exports stood at $437.10 billion in FY24, a slight dip from the record $451.07 billion in FY23, attributed to global slowdown.¹²¹ However, non-petroleum and non-gems & jewellery exports showed positive growth.¹²¹ India’s share in global merchandise exports increased from 1.70% in 2014 to 1.82% in 2023, improving its global ranking from 19th to 17th.¹²¹ Services exports continued their strong performance, reaching $341.11 billion in FY24.¹²¹ Crucially, there has been significant export growth in sectors targeted by MII and PLI, such as mobile phones (transforming India into a net exporter) ¹⁴, defence goods (exports soaring 21 to 31 times over the decade) ¹⁴, and pharmaceuticals (exports nearly doubling from $15.07 billion in FY14 to $27.85 billion in FY24).¹⁴ This indicates a qualitative shift towards exporting more value-added manufactured goods.¹⁶ The government aims for $1 trillion in manufacturing exports by 2030.¹⁶

The divergence between strong FDI/export performance in specific areas and the stagnant overall manufacturing GDP share is notable. It suggests that while MII and associated policies like PLI have successfully attracted capital and boosted output and exports in targeted, often high-value sectors, this hasn’t yet translated into the broad-based industrial expansion needed to significantly lift the entire manufacturing sector’s weight in the overall economy.

Table 5: Make in India – Key Economic Indicators Trend (Select Years)

(Note: Data compiled from various sources ⁵ and external references like RBI/DPIIT data for consistency. Exact figures may vary slightly based on reporting methodology and specific time periods. FY refers to Financial Year ending March 31st.)

Case Studies & Success Stories

The impact of Make in India is best illustrated through progress in specific sectors:

• Electronics (Mobile Phones): Perhaps the most cited success story. Driven heavily by the PLI scheme, India transitioned from importing 78% of its mobile phones in 2014-15 (21 crore units imported vs 5.8 crore produced domestically) to manufacturing 99% domestically by 2023-24 (33 crore units produced, only 0.3 crore imported).¹⁴ India is now a net exporter, shipping nearly 5 crore units in FY24.¹⁶ Global giants like Apple, Samsung, Foxconn, Pegatron, and domestic players like Lava have established or significantly expanded manufacturing facilities.¹⁴
• Defence Manufacturing: This sector has seen a dramatic turnaround. The value of defence production in India more than doubled over the last decade, reaching US$15.3 billion (over ₹1 lakh crore) in FY24.¹⁴ Defence exports surged remarkably, reportedly by 21 to 31 times, reaching US$2.5 billion in FY24, with exports going to over 85 nations.¹⁴ Liberalized FDI norms (up to 74% automatic, 100% government route) ¹³ and a focus on indigenous procurement have led to major contracts being awarded to Indian companies like Tata Advanced Systems, Larsen & Toubro (L&T), and Bharat Forge.¹⁹ Joint ventures, like the one for Kamov Ka-226T helicopters with Russia, were initiated under MII.⁵ India is now producing indigenous fighter aircraft (Tejas), naval warships, submarines, and advanced weapon systems.⁸
• Automotive Industry: The sector has seen growth, particularly with the emergence of the Electric Vehicle (EV) segment, which grew from virtually non-existent in 2014 to a US$3 billion market.¹⁴ Major investments have flowed in, including Kia Motors’ initial $2 billion plan ⁵ and significant commitments from players like Hyundai, Tata Motors, Mahindra & Mahindra, Ola Electric, Ather Energy under the Auto PLI scheme.¹⁴ The PLI scheme is expected to attract substantial investments exceeding initial targets.⁴⁸
• Renewable Energy: Driven by climate goals and energy security needs, India has focused on renewable energy manufacturing. The cumulative domestic Solar PV Module manufacturing capacity doubled from 15 GW in 2020 to around 38 GW by March 2023.¹⁴ The PLI scheme for High Efficiency Solar PV Modules is providing a major impetus, aiming to add tens of GWs of integrated manufacturing capacity.⁴⁷ Companies like Adani Green Energy, ReNew Power, and Tata Power Solar are key players.¹⁴
• Pharmaceuticals: India strengthened its position as a global pharma hub, with the industry reaching US$50 billion in 2023 and projected to hit US$130 billion by 2030.¹⁴ The PLI schemes for Bulk Drugs, Medical Devices, and Pharmaceuticals have been instrumental in reducing reliance on imported Active Pharmaceutical Ingredients (APIs) and Key Starting Materials (KSMs), enabling domestic production of critical items like Penicillin G.⁴⁷ Exports nearly doubled between FY14 and FY24.¹⁶
• Food Processing: This sector, crucial for reducing agricultural wastage and adding value, has also benefited from MII focus and a dedicated PLI scheme.⁶⁶ The Gross Value Added (GVA) of the sector increased from US$21.91 billion in FY15 to US$27.95 billion in FY22.¹⁴ The share of processed food in India’s agricultural exports grew significantly from 13.7% to 25.6% over the last decade.¹⁴ Major domestic companies like Britannia, Haldiram’s, ITC, and Parle are active in this space.¹⁴
• Textiles and Apparels: A traditionally strong sector for India and a major employer. India is one of the world’s largest producers and exporters of cotton and the second-largest producer of silk.¹²² The PLI scheme targets high-value Man-Made Fibres (MMF) and Technical Textiles to move up the value chain.⁴⁷ One source mentioned a figure of 14.5 crore jobs in the textile industry, though the context and timeframe need careful consideration.²

These case studies suggest that targeted policy interventions, particularly the PLI scheme, combined with liberalized FDI and government focus, can yield significant results in specific sectors. Success appears concentrated where India has existing strengths (Pharma, Textiles), where global supply chains are shifting (Electronics), or where strategic imperatives drive investment (Defence, Renewables). This implies that while the broad MII umbrella provides direction, sector-specific strategies and incentives are crucial drivers of tangible outcomes.

Addressing the Hurdles

Despite the successes, the Make in India journey faces several persistent challenges:

• Manufacturing GDP Share Target: The most prominent challenge is the failure to achieve the targeted 25% share of manufacturing in GDP, with the actual share remaining stagnant or declining.⁵ This points to deeper structural issues hindering broad-based manufacturing growth.
• Implementation Consistency and Gaps: While policies are announced, effective and timely implementation remains key. Initial delays in PLI scheme disbursements ⁵⁴ and the stalled implementation of the four Labour Codes ³⁵ highlight potential gaps between policy intent and ground reality.
• Skill Deficits: Despite the Skill India mission, a shortage of adequately skilled workforce, particularly for advanced manufacturing and Industry 4.0 roles, continues to be a constraint.⁸
• Regulatory and Compliance Burden: While EoDB rankings improved, businesses, especially SMEs, still face complexities in navigating regulations, obtaining permits, and ensuring compliance across multiple central and state agencies.¹
• Infrastructure Bottlenecks: Although significant investments are underway through GatiShakti, NLP, and Industrial Corridors, infrastructure gaps in power supply, transportation, and logistics connectivity persist in many areas, adding to operational costs.³²
• Access to Finance: Small and Medium Enterprises (SMEs), which form the backbone of the manufacturing ecosystem, often face difficulties in accessing affordable credit for investment and working capital.²⁶
• Global Headwinds: External factors like global economic slowdowns, geopolitical tensions, supply chain disruptions (as seen during the pandemic and Ukraine conflict), and rising commodity prices impact domestic manufacturing demand, costs, and exports.⁸
• Land Acquisition: Acquiring land for industrial projects remains a complex and often time-consuming process in India.³²
• Investor Confidence: While FDI has increased, concerns regarding awareness of legal protections and enforcement mechanisms have been noted as potential deterrents for some investors.⁵

Conclusion and Future Outlook

Over the past decade, the Make in India initiative has undeniably reshaped India’s industrial policy landscape and its engagement with the global economy. Launched as a strategic response to economic headwinds, it evolved from a broad promotional campaign into a multi-faceted program encompassing significant reforms in Ease of Doing Business, Foreign Direct Investment liberalization, targeted sectoral interventions like the Production Linked Incentive scheme, and massive investments in physical and digital infrastructure. Key successes include attracting record levels of FDI, improving India’s standing in global EoDB rankings (prior to their discontinuation), and catalyzing impressive growth and export competitiveness in specific strategic sectors such as electronics, defence, pharmaceuticals, and renewable energy components, often driven by the PLI scheme.

However, the initiative’s journey has also been marked by persistent challenges. The ambitious goal of raising the manufacturing sector’s share in GDP to 25% remains elusive, indicating that a fundamental structural shift towards manufacturing-led growth has yet to fully materialize. While employment has grown in certain segments and overall unemployment has decreased, the scale of job creation specifically within manufacturing may not have met the high initial expectations. Implementation consistency, bridging the skill gap for modern industry, further reducing compliance burdens (especially for SMEs), and overcoming infrastructure deficits continue to be critical areas requiring sustained focus.

India’s Position

India currently stands as a significant and rapidly evolving player in the global manufacturing landscape. Its primary strengths include a large and growing domestic market, favorable demographics providing a large potential workforce, a stable democratic polity, continuous government focus on manufacturing, improving physical and digital infrastructure, and a burgeoning innovation ecosystem fueled by initiatives like Startup India. The country has demonstrated resilience, maintaining relatively strong economic growth despite recent global uncertainties.⁸⁴ However, weaknesses such as relatively high logistics costs (though declining), persistent skill mismatches, complex regulatory navigation (despite improvements), and varying levels of implementation effectiveness across states need continued attention.

Future Directions

The trajectory of Make in India appears set towards deepening domestic capabilities and enhancing global integration. Potential future directions include:

• MII 3.0 Focus: A potential next phase focusing on aggressive export promotion, deeper integration into resilient global value chains, linking manufacturing with sustainable urbanization, and enhancing supply chain resilience.⁶
• PLI Scheme Evolution: Continued implementation and potential expansion of PLI schemes to other high-potential or strategic sectors like toys, leather/footwear, bicycles, and chemicals, focusing on employment generation and import substitution.³⁰ Ensuring timely disbursement and evaluating the scheme’s impact on MSMEs and regional development will be crucial.
• National Manufacturing Mission: The recently announced mission aims to provide coordinated policy support, execution roadmaps, and monitoring frameworks to further boost manufacturing, particularly for MSMEs, and promote clean technologies.⁶⁵
• Advanced Technology Focus: Continued emphasis on attracting investment and building ecosystems in cutting-edge areas like semiconductors (Semicon India programme ²), Artificial Intelligence, Electric Vehicles, Green Hydrogen, and advanced materials.²
• Infrastructure and Logistics: Effective and timely execution of projects under PM GatiShakti, the National Logistics Policy, and the National Industrial Corridor Development Programme is critical to realizing the potential cost reductions and efficiency gains.¹¹²
• Labour Reforms: The eventual implementation of the four Labour Codes could significantly impact the manufacturing environment, potentially improving EoDB and flexibility if managed effectively while addressing worker welfare concerns.³⁵

Recommendations for Stakeholders

• For Investors and Businesses:

• Leverage Support Systems: Actively engage with Invest India for facilitation and utilize platforms like the National Single Window System for approvals.¹⁹
• Understand Incentives: Thoroughly evaluate eligibility and benefits under PLI and other applicable central/state schemes, paying close attention to DVA and performance requirements.³⁰
• Navigate Nuances: Recognize that regulations, implementation efficiency, and infrastructure quality can vary by sector and state; conduct thorough due diligence.
• Focus on Value Addition & Technology: Align investment plans with government priorities on localization (DVA) and adoption of Industry 4.0 technologies to enhance competitiveness.⁵⁵
• Develop Local Talent: Partner with Skill India initiatives and local institutions to address skill requirements and build a capable workforce.²⁴
• For Policymakers:

• Ensure Implementation Efficacy: Focus on consistent, transparent, and timely execution of announced reforms and schemes, including PLI disbursements and the Labour Codes.³⁵
• Deepen Skill Development: Enhance the effectiveness of Skill India programs by strengthening industry linkages, improving training quality, and focusing on skills for emerging technologies.³³
• Simplify Compliance Further: Continue efforts to reduce regulatory burdens, particularly for SMEs, and streamline inter-departmental coordination.¹⁶
• Foster R&D and Innovation: Strengthen the ecosystem connecting academia, research institutions, and industry; provide targeted support for domestic R&D and technology commercialization.²⁶
• Monitor and Adapt: Continuously evaluate the impact of initiatives like PLI on the broader industrial structure, including MSME participation, regional balance, and overall GDP contribution, adapting policies as needed.

In conclusion, Make in India has set a clear direction for India’s industrial ambitions. While significant progress has been achieved in attracting investment and boosting capabilities in key areas, sustained effort in implementation, skill development, infrastructure creation, and continued policy adaptation is necessary to overcome the remaining challenges and fully realize the vision of transforming India into a truly global manufacturing powerhouse.

Works Cited:

1. ‘Make in India’ for more ‘made in India’ – Briefing European Parliamentary Research Service – European Union, accessed April 25, 2025, https://www.europarl.europa.eu/EPRS/EPRS-AaG-545728-Make-in-India-FINAL.pdf
2. Transforming India into a Global Manufacturing Powerhouse – PIB, accessed April 25, 2025, https://pib.gov.in/PressNoteDetails.aspx?NoteId=153203&ModuleId=3®=3&lang=1
3. ABOUT US | Make In India, accessed April 25, 2025, https://www.makeinindia.com/about
4. Make in India Scheme – BYJU’S, accessed April 25, 2025, https://byjus.com/free-ias-prep/make-in-india/
5. Make in India – Wikipedia, accessed April 25, 2025, https://en.wikipedia.org/wiki/Make_in_India
6. Make in India UPSC Notes: Objectives, Key Schemes, Achievements & More – Testbook, accessed April 25, 2025, https://testbook.com/ias-preparation/make-in-india
7. Department for Promotion of Industry and Internal Trade (DPIIT) & DIPP – BYJU’S, accessed April 25, 2025, https://byjus.com/free-ias-prep/dipp/
8. Reflecting on a decade of Make in India: Achievements, challenges, and the road ahead, accessed April 25, 2025, https://www.financialexpress.com/business/industry-reflecting-on-a-decade-of-make-in-india-achievements-challenges-and-the-road-ahead-3692600/
9. Indian Economy: Make in India Initiative and Its Impact – Sleepy Classes, accessed April 25, 2025, https://sleepyclasses.com/indian-economy-make-in-india-initiative-and-its-impact/
10. MAKE IN INDIA INITIATIVE ‘Come, Make in India’! PM Modi’s aggressive push to revive an ailing manufacturing sector, has found re, accessed April 25, 2025, https://www.mea.gov.in/Images/attach/Make_in_India_Initiative.pdf
11. Initiatives under “Make in India” and “Startup”Programmes; – PIB, accessed April 25, 2025, https://pib.gov.in/Pressreleaseshare.aspx?PRID=1738170
12. Make in India Initiative: Meaning, Objective, Key Sectors, accessed April 25, 2025, https://bizfoc.com/blog/make-in-india-initiative
13. Make In India | Prime Minister of India, accessed April 25, 2025, https://www.pmindia.gov.in/en/major_initiatives/make-in-india/
14. A decade of Make in India – JLL, accessed April 25, 2025, https://www.jll.com/en-us/insights/a-decade-of-make-in-india
15. FDI in Make in India: Transforming the Manufacturing Landscape – Invest India, accessed April 25, 2025, https://www.investindia.gov.in/blogs/fdi-make-india-transforming-manufacturing-landscape
16. A decade of economic transformation with ‘Make in India’ – Invest India, accessed April 25, 2025, https://www.investindia.gov.in/blogs/decade-economic-transformation-make-india
17. Make In India, accessed April 25, 2025, https://www.makeinindia.com/
18. Department of Promotion of Industry and Internal Trade (DPIIT) – C4S Courses, accessed April 25, 2025, https://c4scourses.in/blog/department-of-promotion-of-industry-and-internal-dpiit/
19. ‘Make in India’ initiative helped boost manufacturing, exports, strengthening economy, accessed April 25, 2025, https://m.economictimes.com/news/india/make-in-india-initiative-helped-boost-manufacturing-exports-strengthening-economy/articleshow/113672271.cms
20. MAKE IN INDIA 2.0 | List of 27 Sectors under ‘Make in India’ initiative – INC91, accessed April 25, 2025, https://www.inc91.com/make-in-india-20-list-of-27-sectors-under-make-in-india-initiative
21. Make in India: 27 sectors to drive India’s manufacturing growth | Communications Today, accessed April 25, 2025, https://www.communicationstoday.co.in/make-in-india-27-sectors-to-drive-indias-manufacturing-growth/
22. Make In India – PIB, accessed April 25, 2025, https://pib.gov.in/Pressreleaseshare.aspx?PRID=1814144
23. Top 5 central Indian Government Schemes Boosting Economy, accessed April 25, 2025, https://theunitedindian.com/news/blog?central-Indian-government-schemes&b=294&c=3
24. Make in India Initiatives & Skill Development: An Overview – College Hive, accessed April 25, 2025, https://collegehive.in/docs/4th_sem/site/ED/Unit-3%20Entrepreneurship%20in%20MSMEs/3.e%20Make%20in%20India%20Initiatives%20%26%20Skill%20Development.html
25. ‘Startup India’ initiative generates more than 26000 employment in Tamil Nadu in three years – worldtradescanner.com, accessed April 25, 2025, http://worldtradescanner.com/Initiatives%20under%20Make%20in%20India%20and%20Startup%20Programmes.htm
26. The Impact of Make in India Initiative on the Manufacturing Sector, accessed April 25, 2025, https://www.niir.org/blog/the-impact-of-make-in-india-initiative-on-the-manufacturing-sector/
27. Industry 4.0: The Future of Smart Manufacturing in India – Invest UP, accessed April 25, 2025, https://invest.up.gov.in/wp-content/uploads/2024/05/Industry_260524.pdf
28. The Role of Industry 4.0 in the Make in India Initiative – Diversitech Global, accessed April 25, 2025, https://www.diversitech-global.com/post/the-role-of-industry-40-in-the-make-in-india-initiative
29. Make in India – Nishith Desai Associates, accessed April 25, 2025, https://www.nishithdesai.com/fileadmin/user_upload/pdfs/Research_Papers/Make-in-India.pdf
30. Production Linked Incentive Schemes in India – RSM Global, accessed April 25, 2025, https://www.rsm.global/india/insights/tax-insights/pli-scheme-in-india
31. About Us – Invest India, accessed April 25, 2025, https://www.investindia.gov.in/about
32. Make In India – Sectors, Scheme, Initiatives, Programs, Benefits and More – Razorpay, accessed April 25, 2025, https://razorpay.com/learn/make-in-india/
33. The Success of ‘Make in India’ Depends on ‘Skill India’ and Radical Labour Reforms: A Logical Analysis – UPPCS MAGAZINE, accessed April 25, 2025, https://uppcsmagazine.com/the-success-of-make-in-india-depends-on-skill-india-and-radical-labour-reforms-a-logical-analysis/
34. Union Budget: Manufacturing sector calls for pro-local manufacturing policies, GST reductions, and tax reforms – The Economic Times, accessed April 25, 2025, https://m.economictimes.com/news/economy/policy/union-budget-manufacturing-sector-calls-for-pro-local-manufacturing-policies-gst-reductions-and-tax-reforms/articleshow/117603370.cms
35. India’s New Labor Codes: Key Insights for Foreign Firms, accessed April 25, 2025, https://www.india-briefing.com/news/indias-new-labor-codes-key-insights-for-foreign-firms-34899.html/
36. MAKE IN INDIA 2.0 – PIB, accessed April 25, 2025, https://pib.gov.in/Pressreleaseshare.aspx?PRID=1694804
37. DPIIT’s 2024 Report Card: How Was The Year for Indian Startups? – TICE News, accessed April 25, 2025, https://www.tice.news/tice-trending/dpiits-2024-report-card-indian-startups-8542679
38. Department for Promotion of Industry and Internal Trade – Wikipedia, accessed April 25, 2025, https://en.wikipedia.org/wiki/Department_for_Promotion_of_Industry_and_Internal_Trade
39. What is DPIIT? Explore Full Form and Meaning | Bajaj Finance, accessed April 25, 2025, https://www.bajajfinserv.in/about-dpiit-department-for-promotion-of-industry-and-internal-trade
40. DPIIT Focuses on Advancing Industrial Growth and Empowering Local Economy in 100 Days Programme – worldtradescanner.com, accessed April 25, 2025, https://worldtradescanner.com/DPIIT%20Focuses%20on%20Advancing%20Industrial%20Growth%20and%20Empowering%20Local%20Economy.htm
41. Government Implements Key Initiatives to Boost Industrial Growth and Investments – PIB, accessed April 25, 2025, https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2110314
42. Foreign Direct Investment | FDI – Make In India, accessed April 25, 2025, https://www.makeinindia.com/policy/foreign-direct-investment
43. Foreign direct investment reviews 2021: India | White & Case LLP, accessed April 25, 2025, https://www.whitecase.com/insight-our-thinking/foreign-direct-investment-reviews-2021-india
44. 2024 Investment Climate Statements: India – State Department, accessed April 25, 2025, https://www.state.gov/reports/2024-investment-climate-statements/india/
45. Invest India: Your Guide to Investment Opportunities, accessed April 25, 2025, https://www.investindia.gov.in/
46. Sectors | Make In India, accessed April 25, 2025, https://www.makeinindia.com/sectors
47. static.pib.gov.in, accessed April 25, 2025, https://static.pib.gov.in/WriteReadData/specificdocs/documents/2024/nov/doc20241125451701.pdf
48. PLI Schemes: Shaping India’s Industrial Growth, accessed April 25, 2025, https://pib.gov.in/PressNoteDetails.aspx?NoteId=153454
49. Manufacturing renaissance through PLI Schemes – Invest India, accessed April 25, 2025, https://www.investindia.gov.in/blogs/manufacturing-renaissance-through-pli-schemes
50. Production Linked Incentives: Driving Aatmanirbhar Bharat Forward – KPMG International, accessed April 25, 2025, https://kpmg.com/in/en/blogs/2024/07/production-linked-incentives-driving-aatmanirbhar-bharat-forward.html
51. Production Linked Incentive (PLI) Scheme: A Detailed Guide – NEXT IAS, accessed April 25, 2025, https://www.nextias.com/blog/production-linked-incentive-pli/
52. Unlocking Growth And Innovation: An Overview Of India’s Production Linked Incentive (PLI) Schemes – Accovet Insight, accessed April 25, 2025, https://insight.accovet.com/unlocking-growth-and-innovation-an-overview-of-indias-production-linked-incentive-pli-schemes
53. Decoding India’s Production Linked Incentive (PLI) Scheme: A Game-Changer for Manufacturing – Karkhana.io, accessed April 25, 2025, https://karkhana.io/decoding-indias-production-linked-incentive-pli-scheme-a-game-changer-for-manufacturing/
54. Govt disburses Rs 14,020 crore in ten PLI schemes so far – The Economic Times, accessed April 25, 2025, https://m.economictimes.com/news/economy/policy/govt-disburses-rs-14020-crore-in-ten-pli-schemes-so-far/articleshow/119341321.cms
55. 755 applications approved across 14 sectors, investment of Rs. 1.23 lakh crore attracted under PLI Scheme till March 2024 – PIB, accessed April 25, 2025, https://pib.gov.in/PressReleasePage.aspx?PRID=2039119
56. Production Linked Incentive Schemes for 14 key sectors aim to enhance India’s manufacturing capabilities and exports – PIB, accessed April 25, 2025, https://pib.gov.in/PressReleasePage.aspx?PRID=1945155
57. Listed: 14 key sectors for which PLI schemes have been announced – Times of India, accessed April 25, 2025, https://timesofindia.indiatimes.com/gadgets-news/listed-14-key-sectors-for-which-pli-schemes-have-been-announced/articleshow/102369527.cms
58. PLI Scheme – Definition, What is PLI Scheme, Advantages of PLI Scheme, and Latest News – ClearTax, accessed April 25, 2025, https://cleartax.in/glossary/pli-scheme
59. PLI Scheme Full Form, Benefits, And Objective – Only IAS, accessed April 25, 2025, https://pwonlyias.com/pli-scheme/
60. Production Linked Incentive schemes in India – Wikipedia, accessed April 25, 2025, https://en.wikipedia.org/wiki/Production_Linked_Incentive_schemes_in_India
61. India’s Industrial Policies: Rejecting the Old Status Quo and Creating the New, accessed April 25, 2025, https://www.cfr.org/article/indias-industrial-policies-rejecting-old-status-quo-and-creating-new
62. Production Linked Incentive (PLI) Scheme for Large Scale Electronics Manufacturing: Guidelines and Amendments – Insights – Karma AI, accessed April 25, 2025, https://karma.law/insights/production-linked-incentive-pli-scheme-for-large-scale-electronics-manufacturing-guidelines-and-amendments/
63. Guide To PLI Scheme In India – Tata Capital, accessed April 25, 2025, https://www.tatacapital.com/blog/loan-for-business/guide0-to-pli-scheme-in-india/
64. PLI Scheme for Automobile & Auto Components Driving Investments, Employment, and Growth – PIB, accessed April 25, 2025, https://pib.gov.in/PressReleasePage.aspx?PRID=2115609
65. No more PLIs in India’s manufacturing push – Industry News | The Financial Express, accessed April 25, 2025, https://www.financialexpress.com/business/industry-no-more-plis-in-indias-manufacturing-push-3751045/
66. Production Linked Incentive Scheme for Food Processing Industry (PLISFPI), accessed April 25, 2025, https://www.mofpi.gov.in/en/PLISFPI/central-sector-scheme-production-linked-incentive-scheme-food-processing-industry-plisfpi
67. How to Apply for the PLI Scheme for Manufacturing Medical Devices in India?, accessed April 25, 2025, https://www.indialawoffices.com/legal-articles/how-to-apply-for-the-pli-sceme-for-manufacturing-medical-devices-in-india
68. Govt reviews progress of PLI schemes in 14 sectors – The Economic Times, accessed April 25, 2025, https://m.economictimes.com/news/economy/policy/govt-reviews-progress-of-pli-schemes-in-14-sectors/articleshow/106773028.cms
69. PLI Scheme: What is it & Which Sectors are Thriving under it? – Finology Insider, accessed April 25, 2025, https://insider.finology.in/economy/pli-scheme-india
70. India’s PLI Schemes for Manufacturing Sectors | PwC India, accessed April 25, 2025, https://www.pwc.in/research-insights/advantage-india/pli-schemes.html
71. Understanding the PLI Scheme: Automobiles and Auto Components – Lendingkart, accessed April 25, 2025, https://www.lendingkart.com/blog/pli-for-automobile-auto-components/
72. Production Linked Incentive Scheme (PLI) For Promoting Telecom & Networking Products Manufacturing In India – myScheme, accessed April 25, 2025, https://www.myscheme.gov.in/schemes/dot-pli-scheme
73. Frequently Asked Questions (FAQs) on Production Linked Incentive (PLI) Scheme for Large Scale Electronics Manufacturing 1. What – MeitY, accessed April 25, 2025, https://www.meity.gov.in/static/uploads/2024/02/Frequently_Asked_Questions_on_PLI_Scheme.pdf
74. PLI Scheme (Production-Linked Incentive Scheme): Fact Sheet – Asit Mehta and Associates, accessed April 25, 2025, https://www.asitmehtaassociates.com/india-strategy/pli-scheme-production-linked-incentive-scheme/
75. Auto PLI scheme – KPMG LLP, accessed April 25, 2025, https://assets.kpmg.com/content/dam/kpmgsites/in/pdf/2025/03/chapter-2-auto-pli-scheme.pdf.coredownload.inline.pdf
76. Government Notifies PLI Scheme for Automobile & Auto components – PIB, accessed April 25, 2025, https://pib.gov.in/PressReleasePage.aspx?PRID=1757651
77. PLI Scheme for Manufacturing Automobile and Auto Components in India, accessed April 25, 2025, https://www.indialawoffices.com/legal-articles/pli-scheme-manufacturing-automobile-auto-components-india
78. PLI Scheme (Tables) Table – I – ACMA, accessed April 25, 2025, https://www.acma.in/pdf/Press-Release_PLI-Scheme_Tables_15th-September-2021.pdf
79. Government Support and Incentives for GCCs in India – – Supersourcing, accessed April 25, 2025, https://supersourcing.com/blog/government-support-and-incentives-for-gccs-in-india/
80. PLI Scheme for Automobile and Auto Component Industry, accessed April 25, 2025, https://heavyindustries.gov.in/pli-scheme-automobile-and-auto-component-industry
81. PLI 2.0 for IT Hardware in India: Application Window Opens June 1, accessed April 25, 2025, https://www.india-briefing.com/news/it-hardware-in-india-government-approves-pli-scheme-2-0-rules-notified-28245.html/
82. 9. Make in India- Success Stories -Lessons Learnt – Pune International Centre, accessed April 25, 2025, https://puneinternationalcentre.org/publications/make-in-india-success-stories-lessons-learnt/
83. Production Linked Incentive (PLI) Scheme: National Programme on High Efficiency Solar PV Modules | MINISTRY OF NEW AND RENEWABLE ENERGY, accessed April 25, 2025, https://mnre.gov.in/en/production-linked-incentive-pli/
84. summary of economic survey 2024-25 – PIB, accessed April 25, 2025, https://pib.gov.in/PressReleasePage.aspx?PRID=2097921
85. Production Linked Incentive Scheme (PLI) for Large Scale Electronics Manufacturing – MeitY, accessed April 25, 2025, https://www.meity.gov.in/offerings/schemes-and-services/details/production-linked-incentive-scheme-pli-for-large-scale-electronics-manufacturing
86. PLI Scheme for Speciality Steel in India, accessed April 25, 2025, https://plimos.mecon.co.in/
87. GOVERNMENT OF INDIA MINISTRY OF COMMERCE & INDUSTRY DEPARTMENT FOR PROMOTION OF INDUSTRY AND INTERNAL TRADE RAJYA SABHA UNST, accessed April 25, 2025, https://sansad.in/getFile/annex/267/AU523_L9jX9i.pdf?source=pqars
88. Central Drugs Standard Control Organization Medical Devices, accessed April 25, 2025, https://cdsco.gov.in/opencms/export/sites/CDSCO_WEB/Pdf-documents/MDfAq24.pdf
89. Facilities and Incentives – Special Economic Zones in India, accessed April 25, 2025, https://sezindia.gov.in/facilities-and-incentives
90. Make in India Scheme – Initiatives, Aims, Advantages and Challenges | Bajaj Finance, accessed April 25, 2025, https://www.bajajfinserv.in/make-in-india
91. Foreign direct investment reviews 2024: India | White & Case LLP, accessed April 25, 2025, https://www.whitecase.com/insight-our-thinking/foreign-direct-investment-reviews-2024-india
92. Study On GST and It’s Impact On Manufacturing Industry – TIJER, accessed April 25, 2025, https://tijer.org/tijer/papers/TIJER2304277.pdf
93. A Study on The Impact of GST on Indian Economy | Journal of Neonatal Surgery, accessed April 25, 2025, https://www.jneonatalsurg.com/index.php/jns/article/view/2975
94. A Guide on Impact of GST on Manufacturing Sector – Pice, accessed April 25, 2025, https://piceapp.com/blogs/a-guide-on-impact-of-gst-on-manufacturing-sector/
95. How Has GST Made An Impact On Indian Manufacturing Industry? – TATA Capital Blog, accessed April 25, 2025, https://www.tatacapital.com/blog/loan-for-business/how-has-gst-made-an-impact-on-indian-manufacturing-industry/
96. GCC Tax Benefits in India: Everything Businesses Need to Know – Supersourcing, accessed April 25, 2025, https://supersourcing.com/blog/gcc-tax-benefits-in-india/
97. India – Corporate – Tax credits and incentives, accessed April 25, 2025, https://taxsummaries.pwc.com/india/corporate/tax-credits-and-incentives
98. Intellectual property in India – Wikipedia, accessed April 25, 2025, https://en.wikipedia.org/wiki/Intellectual_property_in_India
99. National IPR Strategy – Consulate General of India, Hamburg (Germany), accessed April 25, 2025, https://cgihamburg.gov.in/pdf/national_IPR_Strategy_21July2014.pdf
100. India’s IP ecosystem 2.0 – WIPO, accessed April 25, 2025, https://www.wipo.int/web/wipo-magazine/articles/indias-ip-ecosystem-20-39399
101. International Cooperation – Intellectual Property India, accessed April 25, 2025, https://ipindia.gov.in/international-cooperation/
102. Official website of Intellectual Property India, accessed April 25, 2025, https://ipindia.gov.in/
103. List of regulators in India – Wikipedia, accessed April 25, 2025, https://en.wikipedia.org/wiki/List_of_regulators_in_India
104. CDSCO, accessed April 25, 2025, https://cdsco.gov.in/
105. India’s CDSCO – Global Regulatory Partners, Inc., accessed April 25, 2025, https://globalregulatorypartners.com/countries/india-cdsco/
106. The Manufacturing Mission (2025-26): Furthering ‘Make In India’, accessed April 25, 2025, https://www.impriindia.com/insights/manufacturing-mission-2025/
107. India’s Manufacturing Resurgence: From ‘Make in India’ to ‘Digital India’ – ARC Group, accessed April 25, 2025, https://arc-group.com/india-manufacturing-resurgence/
108. (PDF) Digital India and Industry 4.0 – ResearchGate, accessed April 25, 2025, https://www.researchgate.net/publication/376109407_Digital_India_and_Industry_40
109. Manufacturing 4.0: India’s AI-Powered Industrial Revolution – Invest India, accessed April 25, 2025, https://www.investindia.gov.in/blogs/manufacturing-40-indias-ai-powered-industrial-revolution
110. Industry 4.0 in India: Embracing the Digital Revolution in Manufacturing: | nasscom, accessed April 25, 2025, https://community.nasscom.in/communities/industry-40/industry-40-india-embracing-digital-revolution-manufacturing
111. Make In India – 3 important schemes and benefits – saspartners, accessed April 25, 2025, https://saspartners.com/make-in-india-imp-schemes-benefits/
112. PM Gati Shakti Yojana: Transforming Infrastructure and Enhancing Competitiveness in India, accessed April 25, 2025, https://uppcsmagazine.com/pm-gati-shakti-yojana-transforming-infrastructure-and-enhancing-competitiveness-in-india/
113. Prime Minister Shri Narendra Modi termed the steel sector as the “foundation of India’s growth” and the one writing the “story of change” – PIB, accessed April 25, 2025, https://pib.gov.in/PressReleasePage.aspx?PRID=2124170
114. Development and Impact of Industrial Corridors – Make In India, accessed April 25, 2025, https://www.makeinindia.com/live-projects-industrial-corridor
115. India aims to manufacture modern and large ships domestically and export them to other countries : PM, accessed April 25, 2025, https://indiashippingnews.com/india-aims-to-manufacture-modern-and-large-ships-domestically-and-export-them-to-other-countries-pm/
116. Analysing the new labour codes: Impact on employee work hours, leave and overtime, accessed April 25, 2025, https://m.economictimes.com/small-biz/sme-sector/analysing-the-new-labour-codes/articleshow/117138406.cms
117. Do India’s labour codes address informal workers’ needs? – IDR, accessed April 25, 2025, https://idronline.org/article/rights/do-indias-labour-codes-address-informal-workers-needs/
118. HANDBOOK ON LABOUR CODES – Nishith Desai Associates, accessed April 25, 2025, https://nishithdesai.com/fileadmin/user_upload/pdfs/Research_Papers/Handbook-on-New-Labour-Codes.pdf
119. India’s New Labor Codes Enactment Status and Delayed Implementation, accessed April 25, 2025, https://www.india-briefing.com/doing-business-guide/india/human-resources-and-payroll/india-new-labor-codes
120. ECONOMIC SURVEY 2024-25, accessed April 25, 2025, https://www.insightsonindia.com/wp-content/uploads/2025/02/ECONOMIC-SURVEY-2025.pdf
121. ANNUAL REPORT – Ministry of Commerce and Industry, accessed April 25, 2025, https://www.commerce.gov.in/wp-content/uploads/2024/12/Annual-Report-English-Lower-Resolution-1.pdf
122. Make In India, accessed April 25, 2025, https://www.makeinindia.com/search
123. Society of Indian Automobile Manufacturers – ANNUAL REPORT 2021-22 – SIAM, accessed April 25, 2025, https://www.siam.in/uploads/filemanager/414SIAMAnnualReport202122Final.pdf