12 Years Strong: Make in India Transforms Nation into Global Manufacturing Powerhouse
Context mode is active. Hover over any highlighted term to see its definition. Click a nested term to go deeper.
India's flagship 'Make in India' initiative just hit its 12-year mark, with Prime Minister Narendra Modi announcing a major shift in the country's economic landscape: from merely assembling goods to becoming a globally competitive manufacturing hub. On Friday, Modi highlighted on microblogging platform X that the program has fueled 'more being made in India, more investment in India, and more exports from India,' a transformation now clearly visible across many important sectors. This milestone comes with impressive figures, including a record $94.53 billion in Foreign Direct Investment (FDI) for FY 2025-26 alone, and a massive $843 billion in total FDI since the initiative began in 2014. The initiative, launched on September 25, 2014, has truly transformed India's industrial story, driving a 10.88% compound annual growth rate in Manufacturing Gross Value Added (GVA) between 2022-23 and 2025-26. Union Commerce and Industry Minister Piyush Goyal emphasized that India has moved beyond just manufacturing for its own market, now producing for the entire world. Key Production Linked Incentive (PLI) schemes have been central to this success, attracting around Rs 2.40 lakh crore (approximately $28 billion) in actual investment and creating over 14.6 lakh (1.46 million) direct and indirect jobs by March 2026. Sectors like electronics, mobile phones, defense, pharmaceuticals, and automobiles have seen massive growth, with mobile phone production, for example, increasing 33-fold. Looking ahead, the next phase of 'Make in India' is focusing on even deeper value addition, aiming for technology leadership and resilient supply chains. Recent government approvals in July 2026 include the ambitious Semicon 2.0 program, allocating Rs 1.275 lakh crore for a complete semiconductor ecosystem, and the Mobile Phone Manufacturing Scheme with Rs 62,500 crore to boost domestic value addition in smartphones. New industrial parks are also on the horizon with the Bharat Audyogik Vikas Yojana (BHAVYA), approved in March 2026, receiving Rs 33,660 crore to develop 100 investment-ready industrial hubs. The push continues to integrate Micro, Small, and Medium Enterprises (MSMEs) into global value chains, enhance research and development, and build specialized skills for advanced manufacturing, cementing India's journey towards becoming a true global industrial powerhouse.