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The $3 Trillion Revolution: How India’s Factories Are Forging a New Global Powerhouse

Updated: May 14, 2025 09:35

Image Source: ET CFO
India's manufacturing industry is on the cusp of a revolutionary leap, with estimated projections of a $3 trillion business opportunity by 2035. The boom is anticipated to be driven mainly by strong manufacturing expansion and conscious government policies.
 
Main Points:
  • India's industry is set to overtake agriculture with a 30-32% GDP share by 2035, an increase from 27.3% of the current GDP. Manufacturing alone shall contribute more than 20% of GDP and two-thirds of the sector's value.
  • The government's vision of $1 trillion in merchandise exports by 2030, an increase from $450 billion, will demand a 12% compound annual growth rate, driven by increasing per capita income and increased domestic consumption.
  • Key policy schemes like the Production-Linked Incentive (PLI) scheme, 'Make in India' initiative, liberalized FDI policy, and public-private partnerships are driving this industrial growth.
  • Infrastructure is a support pillar: 11 industrial corridor projects have been launched under the National Industrial Corridor Development Programme (NICDP), with Rs 9,900 crore authorized and more than 1 million direct and 3 million indirect employment anticipated.
  • India's merchandise export share in world merchandise exports has doubled since 2005, and the export growth rate in recent years has been 18.8% CAGR (FY21–FY24).
The second phase of the Amrit Kaal vision will emphasize cutting-edge manufacturing technologies, efficient supply chains, and a business-friendly environment with the goals of job creation, lower import dependence, and socio-economic empowerment.
 
Sources: Economic Times Manufacturing, Bizz Buzz, IPF Online

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