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Manufacturing has emerged as one of the high growth sectors in India.
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Under the Make in India initiative, the Government of India aims to increase the share of the manufacturing sector to the gross domestic product (GDP) to 25 per cent by 2022, from 16 per cent, and to create 100 million new jobs by 2022. Business conditions in the Indian manufacturing sector continue to remain positive.
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India is on the path of becoming the hub for hi-tech manufacturing as global giants such as GE, Siemens, HTC, Toshiba, and Boeing have either set up or are in process of setting up manufacturing plants in India, attracted by India's market of more than a billion consumers and increasing purchasing power.
Foreign Direct Investment (FDI) inflows in India’s manufacturing sector grew by 82 per cent year-on-year to US$ 16.13 billion during April-November 2016.
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India is expected to become the fifth largest manufacturing country in the world by the end of year 2020.