12 years of ‘Make in India’ in 12 metrics — Low and patchy impact on growth, employment & global share
A review of India's 'Make in India' initiative after 12 years shows mixed results regarding manufacturing growth and employment. While some sectors have seen success through government incentives, overall industrial output has not met initial expectations.
Why it matters
It provides a critical economic assessment of a major national policy aimed at transforming India into a global manufacturing hub.
Twelve years on from the launch of the Make in India campaign on September 25, 2014, a look at 12 metrics spanning growth, investment, employment, and exports shows that the manufacturing sector’s share in India’s economic growth, employment, and global exports has remained largely the same since then.
While recent incentive schemes by the government have seen some success, those gains are limited to a handful of sectors.
While launching the campaign, Prime Minister Narendra Modi said that “industrialists don’t come due to some fancy incentive scheme” but instead need a “development and growth-oriented environment”.
The data over the last 12 years show that while the government’s incentive schemes are the ones that have met some success, other metrics that reflect a “development and growth-oriented environment” are underperforming.
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