Published 2021-12-23
Keywords
- Training Activities, Manufacturing Companies, economic growth, international markets, National Manufacturing Policy.
Abstract
If India's manufacturing sector can become more competitive on the world arena, it will be a significant engine of economic growth and job creation this decade. Power growth, stable job prospects, and educational opportunities for tens of millions of people all point to India's promising future as a global market participant. Many factors affect how much they can achieve. To begin, these value chains are set up to make the most of India's raw materials, industrial expertise, and entrepreneurial spirit. India is making progress towards Industry 4.0 thanks in part to the National Manufacturing Policy, which has as its long-term goal the increase of manufacturing's share of GDP to 25% by 2025, and the PLI scheme for manufacturing, which was launched in 2022 to bring the country's core manufacturing sector up to global manufacturing standards.