Forget metros and highways, India needs to revive manufacturing

News Snapshot:

The manufacturing sector’s share in the GDP has stagnated as per the National Accounts Statistics. In 2014-15, the share was 16.1 per cent at current prices. It fell by three percentage points by 2022-23. At constant prices (net of inflation), the share declined marginally to 15.6 per cent. Make in India, initiated in October 2014, was one of the first policy measures of the then-incoming government. It aimed to raise the manufacturing sector’s share in the GDP to 25 per cent and create 100 million jobs by 2022 (in addition to the existing 60 million at the time). Achieving the...