Outcomes of the Make in India (MI) Policy After Ten Years
The manufacturing sector's growth rate declined from 8.1% (2001-12) to 5.5% (2012-23).
The sector's contribution to GDP has remained flat at 15%-17% over the last three decades, despite initial targets.
Manufacturing employment decreased from 12.6% in 2011-12 to 11.4% in 2022-23, particularly in the unorganized sector.
India is experiencing premature de-industrialization, with a shift back to agriculture, increasing its workforce share from 42.5% to 45.8%.
Fixed investment growth has stalled, contributing to reduced industrial production despite overall GDP growth.
Changes in Manufacturing Sector's Share
Unorganized sector manufacturing jobs decreased significantly, resulting in an overall decline in manufacturing employment.
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