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flag India's manufacturing sector forecast to grow its GVA contribution to 21% by 2032, driven by government incentives and investments.

flag A report by Sharekhan predicts that India's manufacturing sector will significantly boost its contribution to Gross Value Added (GVA) from 14% ($459 billion) to 21% ($1,557 billion) by 2032. flag This growth is driven by robust government and corporate capital expenditure, infrastructure improvements, and the government's Production-Linked Incentive (PLI) scheme, which aims to reduce import dependency and attract investments. flag The PLI scheme has already spurred production and created jobs, positioning India as a potential global manufacturing hub.

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