China at 32%, India at 3.2%: NITI Aayog Unveils 12-Sector Manufacturing Roadmap
What Happened
NITI Aayog-Crisil report, has released a roadmap identifying 12 high-potential manufacturing sectors that could help India become a global manufacturing hub by 2047. The report highlights that while India's share of global manufacturing value-added increased from 1.5% in 1995 to 3.2% in 2023, China surged from 5% to nearly 32% during the same period, creating a tenfold gap. To bridge the gap with global manufacturing leaders, NITI Aayog shortlisted 12 sectors from an initial pool of 62 sectors based on market size, growth potential, strategic importance, and employment opportunities. These include electronics, telecom equipment, solar PV, pharmaceuticals, chemicals, automobiles, defence & drones, steel, capital goods, textiles, food processing, and leather & footwear.
Key Takeaways
NITI Aayog has identified 12 high-potential sectors to help India move up global value chains and narrow the huge manufacturing gap with China, aiming to turn the country into a global manufacturing hub by 2047.