The sector continues to show significant growth. The average growth rate of output during the year 2019 was about 3.9 percent. The market is expected to hit $1 trillion by 2025, theoretically. It now plans to build 100 million new industrial workers by 2022.
The country is also an enticing center for international investment in the manufacturing sector, in particular cell phones, high-tech goods, luxury, and automotive brands, among others. The introduction of the GST would also make India a modern economy with a strong GDP and a vast population that is a big draw for investors.
Our India Competitive Intelligence team helps businesses manage the Indian manufacturing sector through our consultancy services in different areas, including production and packaging, industrial lubricants, industry 4.0, big data, industrial IoT & AI, distribution and supply chain, aftermarket industrial equipment, and many more.