India's National Manufacturing Mission
India plans to invest ₹10,000 crore to reboot manufacturing under the new National Manufacturing Mission.
The mission aims to increase India's manufacturing share in GDP to 25% by 2035, from the current 13%.
- ₹10,000 crore will be allocated for greenfield projects
- A cluster-based regional focus will be implemented across seven regional clusters
The plan seeks to lift the share of manufacturing in GDP to 25% by 2035, while aligning with a proposed US-India trade deal expected to ease tariff barriers.
A US-India trade deal is expected to be finalized, reducing tariffs from 50% to around 15-16%.
Author's summary: India invests ₹10,000 crore in manufacturing mission.