Piyush Goyal Hails 'Make in India' for Boosting Manufacturing

By A Staff Reporter

New York, USA – Union Minister Piyush Goyal, during his visit to New York, praised the substantial contribution of the 'Make in India' initiative to the nation's economic growth, particularly in the manufacturing sector. When asked about the latest Gross Value Added (GVA) numbers, Goyal highlighted how the growth in manufacturing has been instrumental in India’s post-pandemic economic recovery.

"The latest annual survey of industries reflects impressive growth in the manufacturing sector, surpassing pre-pandemic levels," said Goyal. He emphasized that India's growth, driven by industries like basic metals, refined petroleum products, food production, chemicals, and motor vehicles, is both manufacturing- and consumption-led, unlike other developed nations where growth is primarily consumption-driven.

Goyal underscored the importance of manufacturing as a critical pillar for job creation in India, noting that Prime Minister Modi's 'Make in India' initiative was designed with employment generation in mind. "This initiative aims to provide jobs for our young men and women, making manufacturing and infrastructure the cornerstones of our growth," he remarked.

The minister also shared data showcasing a 7.5% rise in manufacturing employment and a 6.3% increase in average emoluments for 2022-23, calling it a "brilliant testimony" to the success of the 'Make in India' program. Goyal's comments underscore the sustained momentum in India's industrial sector, positioning it for continued economic growth.