In a recent interview, Commerce and Industry Minister Mr. Piyush Goyal underscored the remarkable achievements of the Make in India initiative over the past decade, which has played a pivotal role in positioning India as a premier global manufacturing destination. This initiative, launched in 2014, aims to transform India into a global manufacturing hub by promoting domestic production and attracting both domestic and international investments.

Mr. Goyal highlighted that the Make in India initiative has successfully created a multitude of jobs while fostering substantial investments across various sectors. He noted that India has experienced a 90% growth in its economy, significantly outpacing the global growth rate of 35%. This achievement is a testament to the government's concerted efforts to enhance the ease of doing business in the country, making it a more attractive destination for manufacturers and investors alike.

The Minister pointed out the success of the Production-Linked Incentive (PLI) scheme, which has been instrumental in driving growth in key sectors such as white goods and mobile manufacturing. These sectors have witnessed a surge in domestic value addition, reflecting the positive impact of government policies aimed at promoting high-quality production and self-reliance. Goyal acknowledged that while certain sectors may experience longer gestation periods, the overall progress has been encouraging, indicating a strong upward trajectory for Indian manufacturing.

The government is actively monitoring the companies involved in the PLI scheme, addressing any teething issues that may arise, and ensuring that stakeholders remain engaged and supported throughout the process. This proactive approach aims to create a sustainable manufacturing ecosystem that can thrive in the long term.

Looking ahead, Goyal reaffirmed the government’s commitment to further reducing compliance burdens and creating a conducive environment for increased manufacturing activities and job creation in India. This dedication to fostering a supportive regulatory framework is essential for encouraging innovation and enhancing competitiveness within the manufacturing sector.

As the Make in India initiative continues to evolve, its impact on the Indian economy and job market is expected to grow, contributing to the overall goal of self-reliance and economic resilience. The emphasis on high-quality production and the active involvement of the government in facilitating growth positions India as a significant player in the global manufacturing landscape.

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