India Emerges as Manufacturing Hub, Eyes $1 Trillion Export Target.

Yes, In just nine years, India has transformed from a major importer of mobile phones to a global manufacturing powerhouse. According to Government of India’s New India Samachar, India produced only 5.8 crore units of mobile phones while importing 21 crore units in 2014-15.

Fast forward to 2023-24, India now produces 33 crore units importing only 0.3 crore units. This monumental growth has led to India becoming the second-largest mobile manufacturing country in the world.

“India was a major importer of mobile phones in 2014-15. At that time only 5.8 crore units were produced in the country while 21 crore units were imported. At the same time, in 2023-24, 33 crore units were produced.  Today, India has become an “India” and only 0.3 crore units were imported. About 5 crore units were exported and due to the youth power of the country, the eyes of the world are on us. Be it Automobiles, Textiles, Aviation, Electronics, or Defense, the country’s exports Increase are continuously increasing in mobile r1.57 r19.45 lakh crore,” said PrimeMinister Narendra Modi, quoted by New India Samachar. 

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In India, 33 crore mobile units were produced in 2023-24 with 5 crore units exported. When it comes to other products, 40 crore toys are made every year with exports increasing from Rs 224 crore in 2014 to Rs 1,339 crore. Rs 31 thousand crore in 2014 to Rs 1.34 lakh crore achieved in Khadi production. India now ranks 5th globally with solar energy systems covering 2 lakh football fields.

India produces 60% of the world’s vaccines with exports increasing by 8.36% to $2.31 billion and defence production witnessed Rs 1.27 lakh crore worth in 2023-24 with exports to 90 countries, as per New India Samachar data. 

Now, India manufactures 100 million kilometres of optical fibre every year which is enough to wrap the world 2500 times and enough cloth to wrap around the earth 500 times creating 14.5 crore jobs.
Also, the Vande Bharat train is equipped with state-of-the-art technology.

Additionally, a new startup is launched every hour in India that has created 15 lakh jobs in the last 10 years. The “One District-One Product” initiative has also boosted micro-enterprises further making India a hub for manufacturing and exports.

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Also, the post-pandemic shift in global supply chains has benefited India with companies looking for alternatives to China.

India’s remarkable growth in manufacturing and its ambitious goal to reach $1 trillion in manufacturing exports by 2028 can be achieved by prioritising technology and similar sectors, along with favourable megatrends.