6 superstar sectors boosting make in India
January 17th, 2018 – India had an important economic growth in the last few years and, according to forecasts, also for 2018 positive values will be recorded in the field of exports and investments. Therefore the country grants interesting business opportunities for companies worldwide. In preparation for the International SME Convention in New Delhi scheduled in 2018, shown below there are the main sectors where India has economically developed.
Not only has India established itself as a prime destination for automotive manufacture, it has fast emerged as an auto export hub for both small as well as heavy vehicles. Major auto behemoths have set up shop in the country, tying Make in India into the global supply chain. Prominent ‘Made-in- India, for the world’ examples include: Renault’s export of its Kwid to Mauritius, Suzuki’s Baleno to Japan, Honda’s Jazz to South Africa and Volkswagen’s Vento to Mexico.
2. ELECTRONICS SYSTEM DESIGN & MANUFACTURING
Driven by the Government’s visions of Digital India and ‘Zero Net Imports by 2020’, major efforts are underway to establish India as a global electronics manufacturing hub. From 60 million mobile handsets in 2014-15, India’s mobile manufacturing capacity has increased to 110 million mobile handsets in 2015- 16. With 72 new mobile handset and component manufacturing units set up in last two years, India has emerged as a mobile manufacturing hub. From global giants like Xiaomi, Gionee and Samsung to homegrown Makers like Lava and Micromax, the world is choosing to make its electronics in India.
3. RENEWABLE ENERGY
One of the largest solar power plants is open in Kumuthi in Tamil Nadu. Cochin Airport became the world’s first to operate only on solar power. Under ease of doing business, renewables is now a ‘white industry’, exempting it from environmental clearances. India has embarked on the world’s largest renewable energy expansion programme, with a 175 GW target by 2022, and the world has taken notice. “I’m very optimistic about what could happen with renewable energy in India,” said World Bank Prez Jim Yong Kim.
4. ROADS & HIGHWAYS
The widespread availability of raw materials and the presence of a highly-skilled workforce have catapulted India to the top.
India makes its presence felt in the global pharmaceuticals supply chain, as the world’s largest provider of generic medicines accounting for 20% of global export volume. In a big boost for affordable, accessible healthcare, India’s first indigenously-developed, life-saving Rotavirus vaccine Rotavac was launched in 2014.
6. FOOD PROCESSING
Food Processing is one of India’s sunrise sectors and is vital to the country’s development, bringing together agriculture and industry. Under Make in India, Ministry of Food Processing is assisting 135 integrated cold chain projects while 7 Mega Food Parks were operationalized. Each creating 5,000 jobs and benefitting 25,000 farmers. The industry is also at the forefront of ease of doing business reforms, from a single dedicated investor facilitation cell to custom clearance reforms.
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