IndexCurrent Indian Manufacturing Sector GDPRoad AheadMajor Market Drivers for Indian ManufacturingCurrent Indian Manufacturing Sector GDPManufacturing Sector GDP in India increased to INR 5,355.42 billion in third quarter of 2017 from INR 5,131.39 billion in the second quarter of 2017. India's manufacturing sector GDP averaged INR 4,269.80 billion from 2011 to 2017, reaching an all-time high of 5,355.42 billion of INR in the third quarter of 2017 and the record low of INR 3,305.81 billion in the fourth quarter of 2011. We say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original EssayRoad AheadIndia's gross domestic product (GDP) is expected to reach $6 trillion by FY27 and achieve upper-middle income status on the back of digitalisation, globalisation, favorable demographics and reforms . Numerous foreign companies are setting up their headquarters in India following various government initiatives such as Make in India and Digital India. Narendra Modi, Prime Minister of India, launched the Make in India initiative with the aim of boosting the manufacturing sector of the Indian economy, to increase the purchasing power of the average Indian consumer, which would further increase demand and thus stimulate development, as well as favoring investors. The Indian government, with the Make in India initiative, is trying to boost the contribution of the manufacturing sector and aims to bring it to 25 percent of GDP from the current 17 percent. hundred. Additionally, the government has also come up with the Digital India initiative, which focuses on three main components: creation of digital infrastructure, delivery of digital services and increasing digital literacy. According to a study recently conducted by global business consultancy firm McKinsey and Company, India's manufacturing industry is expected to reach $1 trillion by 2025. Industry experts credit the growing demand for manufacturing units and the propensity to set up factories at low cost in India by multinationals for this possible development. Around 90 million jobs are waiting to be created nationwide within that time frame, with the manufacturing segment contributing around 25-30% to India's gross domestic product. India's rapidly expanding economy is offering both international entrepreneurs and domestic players a number of opportunities to venture and grow. Key Market Drivers for Indian Manufacturing Industry The Indian manufacturing sector has witnessed slow growth due to deceleration in investments. The national manufacturing policy suggests increasing the share of the manufacturing sector in GDP to 25% in order to create 100 million jobs in the coming decades. It is planned to install additional capacities in all major production units. A public procurement policy incorporating technology along with common facilities centers has been proposed while Khadi Mark steps have been launched to promote micro small and medium enterprises. Indian industries are contributing commendably to the balanced growth of the Indian economy. Although India's GDP in the manufacturing sector has improved in the last two years thanks to the “Make in India” campaign, it is still low compared to neighboring countries such as Thailand (where 35% of GDP comes from the manufacturing sector), China (32% ), Philippines (30%), Indonesia (29%). We have a long way to go. The reason for the same is that “Make in India” does not mean getting foreign companies or big companies to start up.