Advantage India
Robust
Demand
* The appliances and consumer electronics (ACE) market in India is expected to grow to US$ 21.18 billion by 2025 from US$ 10.93 billion in 2019.
* As per a report by NITI Aayog and RMI India, the electric vehicles financing industry in India is projected to grow to ~ US$ 50 billion by 2030.
Increasing
Investment
* In the first half of FY21, India received ~US$ 30 billion worth of funds through foreign direct investment, a 15% increase over the same period last year.
* On November 19, 2021, Prime Minister, Mr. Narendra Modi laid the foundation stone for the Uttar Pradesh Defence Industrial Corridor project worth Rs. 400 crore (US$ 53.73 million) in Jhansi.
Policy
Support
* In September 2021, the government approved PLI scheme worth Rs. 26,058 crore (US$ 3.53 billion) for auto industry and drone industry to boost India’s manufacturing capabilities.
* In May 2021, the government approved a PLI scheme worth Rs. 18,000 crore (US$ 2.47 billion) for production of advanced chemical cell (ACC) batteries.
Competitive
Advantage
* Increasing share of young working population.
* India has potential to become a global manufacturing hub and by 2030, it can add more than US$ 500 billion annually to the global economy.
Related News
MOREManufacturing Clusters
- Maharashtra
- Tamil Nadu
- Gujarat
- Telangana
- Andhra Pradesh
- Karnataka
- Uttar Pradesh
IBEF Campaigns
MORE
Experience India - Dubai Expo 2020
From the small towns and districts of India come the big-hearted artists wh...
Geographical Indicators of India
The Geographical Indications Registry is set up for administration of the G...
Case Studies
MOREPromoting Indian Textile And Apparel Exports
The global textile market is estimated to reach US$ 1,412.5 billion by 2028 and would expand at a CAGR of 4.4% from 2021 to 2028. Rapidly changing tre...
The Potential Of Cottage Industry Trade
A cottage industry is a small business engaged in manufacturing and operated from the owner’s homes. Cottage industries form an important part o...
India's Climate Vision
Climate change and global warming are the biggest threats of the present time and how the world manages to control pollution will define our future. R...
IBEF BLOG
MORE
Merchandise Exports Scaling New Heights
The Merchandise Industry of India India's share in global merchandise ...
Importance of India’s Blue Economy
Introduction to Blue Economy Blue Economy is defined by the World Bank as ...
Joint Ventures in India's Automobile Industry
India's Automobile Industry India is the fifth largest vehicle market ...
Partners
