Indian manufacturers are gearing up to rule the world
Did you all know that India ranks 3rd among the largest ecosystems for start-ups in the world? It is a matter of pride for all Indians as youths being the driving force are chasing their dreams through innovative start-ups. No wonder a day will arrive when Indian manufacturing rules the world for sure.
Did you know that every year approximately 42% of start-ups in India are born in Bangalore alone? The rise of technology in India can be traced back to the 80’s when Infosys was set up by 7 engineers. Having grown from strength to strength this 80’s start-up is one among the biggest tech giants in India today paving way for many companies and start-ups to emerge in India. Let’s have a sneak peek into the world of start-ups and manufacturing.
UNICORN STARTUPS:
Every start-up aims to be termed as a Unicorn. An “Unicorn” is a private start-up company that can be valuated over US$1 billion. InMobi in India was the first start-up to be termed as Unicorn. Flipkart, Honasa Consumer, PayTm, Globalbees, Byju’s, BharatPe, Meesho are a few Indian start-up Unicorns and more. This is the credibility and determination of Indian companies. India is gearing up with 107 unicorn start-ups among the 1068 in the world. So, now is the time to invest in Indian start-ups and companies to help our economy grow stronger.
INDIA- THE MANUFACTURING HUB:
The “Make in India” and the Performance Linked Incentive scheme initiatives opened numerous avenues for Indian Manufacturers. The Union Government too has its focus fixed on the Manufacturing sector. The Make in India initiative aim to provide for uplifting the domestic production and establish India as a key player in the supply chain globally. The Union government indeed is supporting the initiative like a partner. The government aims at bringing about drastic, yet favourable and competitive changes in the Industrial parks to help MSME’s (Micro, Small and Medium Enterprises) and big manufacturers simultaneously identifying 25 target sectors. The manufacturing sector in India witnessed the highest inflow of FDI (Foreign Direct Investment) funds of over US$ 81.97 billion during the COVID pandemic period in March 2021.
The Production Linked Incentive Scheme was launched covering 13 sectors with an outlay of 1.97 lakh crores for a period of 5 years commencing from 2021-2022. Automobile, Pharma, Medical devices, High Efficiency Solar PV Models, Electronics, Telecom, white goods, mobiles, food products etc were a few sectors. A 14th sector of Drones and Drone components was also added to the list. This initiative was designed to have an upward trajectory in production and to improve the quality of the finished products. This will in turn help in creating around 60 lakh new jobs. Today, India exports medicine to over 140 countries. There has been a massive improvement in the Indian manufacturing since 2014. If Indian manufacturing continues to grow at the same pace, then the day is not far when Indian Manufacturing will rule the world. So, lets contribute to our country’s growth. Now is the time to invest in start-ups and manufacturing companies to explore and excel.