Honestly the more larger investments in the manufacturing sector happening in India is only very recent, It should need 2 or 3 more years to see the effects of this
Our service sector showed that we have talent and skill to grow at over 12pc, we could do the same in manufacturing as well . But because we lacked adequate infrastructure on the other hand the service sector hardly needs road, airports,ports for exports
Service sector except IT and ITeS doesn't require much talent. And IT and ITes are not the biggest segment in overall services. Also services sector doesn't generate much jobs.
Ten years is too little time to organize holistic infrastructure, skillsets, equipment, copyright / intellectual right sanctions, raw materials , manufacture and cost effective sustainability of markets. Indigenisation is progressively achieved .
I used to think very often that, with the sort of tenacity we have today towards manufacturing , had the country had this during our father's and grandfather's times, the congress regime, our country would have been different.
@@User-mncbjlfjrebxkl I think maintaining status quo was beneficial for the Congress and the bureaucracy to keep their power. It was a rotten system that prevailed on people's ignorance.
In 1970s when I was in school, I asked my father who was a government servant why we do not manufacture more telephones and telephone lines as there was a long waiting period for getting a telephone connection, he said that telephone was a luxury, and that the government has to spend more money on poverty alleviation rather than on luxury , Then I asked him why the manufacturing cannot be given to private companies since there were companies making fridge and radios , He told me that telephone is something which can be used be enemies of India and we cannot entrust this to private players, seemed very logic answer to me then.
No power can stop india's economic progress, development, growth, stability, and prosperity. Atama nirbhar BHARAT. Good governance effective structural reform policies. Sabka saath Sabka vishvash sabka prayash sabka vikash
7-8% growth is not slow. India's service sector is still growing very rapidly mainly IT, Fintech etc. therefore percentage not going down itself shows fast growth. However, India's rank in global manufacturing has risen to 5th position from 9th position in FY2013-14, which shows how strong India's manufacturing growth has been in the global context.
What about the statistics for individual state govts? Some states, cross-subsidize electricity, making it costly for industry to make it cheap for farmers and households. So, manufacturing might have increased in some states, while declining in others, making the overall average for India to remain constant. Centre can't do everything.
Dishonest as fugg, "same share of GDP", meanwhile India has 5x the software jobs, and other service sectors grow. The fact that this has kept pace is surprising.
Yes that's what I thought, they are talking about percentage in GDP, but we have to understand GDP has also grown, so absolute value of manufacturing contribution must have grown too, it is just that service has grown faster than manufacturing because of lack of infrastructure, lack of support from the government etc.
endia software jobs will soon collapse.. the advent of AI will replace all of endian low-cost IT tech support jobs. And this AI will speak without the terrible, hard-to-understand English with horrible heavy endian accent.
Bro, Comparing GDP percentage 😅. GDP itself grown 300% from 1 trillion to 3.7 trillion. That means its growing rate is 170 billion to 500 to 550 billion. Common man…kuch be 😅
For the amount of government support this sector received like subsidy, tax credit and import restrictions at the expense of consumers, the sector "progress" is pitiful.
This presentation would have been more incisive and informative with the following data points: 1. What was the trajectory of manufacturing in absolute numbers prior to 2014 and post? Have we managed to arrest a decline. 2. What have we achieved in terms of strategic independence in sectors such as API, defence electronics…. 3. Is a sustainable base being set, if not what are the factors which hamper growth & where are we going wrong? 4. Has manufacturing had a trickle down effect on other support services You can continue to research behind the data and make a presentation that could be truly pioneering rather than superficial
Absolute numbers it would have definately increased. However the decline in relative terms also concerning, govt needs to find ways to boost manufacturing in msme also not just very large corporates. To be fair the semiconductor factories (5-6 comming up soon), apple, ola ,defense are all excellent but but but they don't employ many people or are enough for boosting manufacturing to GDP. Most of Indians are in the semi rural tonrural areas and if you can get policies that cater to them you can see a substantial jump in manu to GDP and less agri to GDP which is tough to achieve.
Some missing elements here… 1. Can manufacturing India on absolute basis maintain the current rate of growth without govt incentives? Since China is the global manufacturing base, any country that’s able to grow this space while competing with China can be considered good. 2. Is export as percentage of GDP not increasing, correlating to the fact that India has a high demand for domestic consumption? Businesses have sufficient demand to generate in India without having to look at overseas markets. Something to think about.
In 2014 indian economy was 1.5 and manufacturing sector contribute 17%......in 2024 Indian economy is 3.95 billion and manufacturing contribution is 17 % that means its contribution increased.
My father used to tell me how the country was during the Congress regimes. License raj made sure that the country always remain a socialist hellhole with intense bureaucracy. We had the biggest democracy in the world like the US but almost nil economic freedom. Only a small percentage of people were literate in India and knew economics well enough. Today people have access to so many media and knowledge. The LPG reforms would have never happened if we didn't face a BOP problem and the urging by the World bank. Today the country has started to understand how decades were wasted and is trying to improve on itself. This country has a lot of problems. Ranging from corruption to unemployment, stupid education system and judicial clutter. But slowly reforms are happening and initiatives like Make in India surely are contributing a lot. It is also refreshing to see people like Kabil Sibal concerned about per capita income after decades during his conversation with Subrahmanium Swamy.
While the growth hasn't been impressive and my expectations were more, it did grow in absolute terms. I believe our current infra is still not enough to make the sector boom, but we're close and it will compound very quickly.
Constructive criticism is from a place of love for our country & a desire to improve & to work towards making our nation better. Some often get offended, angry, or defensive, when you point out flaws in our system. However, by labelling critics as "anti-national," they avoid confronting the reality of the problems. People should remember, loving our nation doesn't mean we have to be silent about its flaws. There are 2 types of manufacturing sectors: Local (National/domestic) & Global. Unemployment is all over India, but Bihar & Rajasthan, Haryana are suffering more due to severe lack of any type of manufacturing in these States. Corporate loan is 5% to 7% while, farmers pay 11% for their loans. Only around 122 million people in India have jobs that pay a salary, out of 582 million workers in India. The main issues in fall in manufacturing are the following: inflation combined with 5X high custom tariffs, lack of encouraging entrepreneurial environment (tax burden on youth with high income), and the big players giving donations are under political protection while young players get harassed & arm twisted by govt agencies. A rigid union govt in any country, allows politicians to maintain power despite failures, & allows organized corruption to grow from within the system. India's manufacturing has fallen from 17% to 13% to 11%, as per official govt data of Index of Industrial production performance in India. Meanwhile, Indian banks have written off 10,09,511 crores of loans in 5 years. As per Organization for Economic Cooperation & Development's 2023 database, China global manufacturing is 24%, compared to India's being less than 3% since many decades. PM's Skill India mission, launched in 2015, delivered lacklustre results. Its flagship programme, the Pradhan Mantri Kaushal Vikas Yojana, is largely deemed to be a failure, with dismal placement rates of 18.4% for version 1.0, 23.4% & just 10.1% for version 2.0 & 3.0, respectively. India is placed 134 out-of 193 in the UN's human development 2022 report. Sbi underwrites the entire loan of 12,770 crores of Company A, who has created far fewer jobs than any one company, Amul/TATA/any major bank. Indians are desperately illegally going into developed countries to find good jobs. We are also the largest importer of foreign military items from the west. Goodwill is essential for progress; so is avoiding becoming harmful, like China. China became developed when they had the highest youth population. India's Union Govt says they can't help if there is high unemployment. While, corporate tax cut by half in 10 years. The number of wilful defaulters of loans have peaked 1.6 times from 2014 to 2023. India has missed out on the export opportunity presented by China’s withdrawal from labour-intensive manufacturing sectors such as apparel, leather, textiles, footwear, gems & jewellery (in fact it has dropped nearly 12% compared to pre-pandemic levels 5 years ago); while, countries like Vietnam, Poland, Germany, & France have managed to increase their global export share in major job-creating sectors. While, China has successfully managed to push-out Indian SMEs from the fast-growing Asian markets, using free-trade agreements like Regional Comprehensive Economic Partnership. India's Union government’s economic philosophy was the Washington Consensus "trickle-down" economic development model (which failed in the US). It only makes the super rich even richer, while the majority become beggars. Majority of household now have no choice but to spend just on bare essentials for survival, everything is costly & high gst. When common people fight with each other for scraps; the elites draw further into their private gated communities. In direct taxes, it is the individual income tax that has overtaken corporate taxes in 2022-2023. It is also the people who pay the most taxes that have no social security & pension support. People, mostly from the middle class, are contributing more in taxes than corporates, even as the stock markets have been quadrupled. The government's gamble was that the tax break would boost income & earn it taxes. But that hasn't been the case. Salaried individuals get no refund on GST paid, but corporates get an input tax credit. Jobs are driven by middle-class private sector, particularly through small & medium-sized businesses. Middle-class entrepreneurs play a crucial role in not only jobs but also in wages growth, which boosts per capita income of a nation; these directly depend on Union govt's economic policies & increased funding to states for education. Single election will be a note ban type of blunder, making elected politicians more unaccountable. Investment potential index of Indian states are based on the following points: 1. Business perceptions: pleasant & easy experience. (The union govt is responsible for making sure the courts have enough staff & resources, but they're not doing it. This means that judges & staff are overwhelmed with these pending cases. There are too many cases & not enough people to handle them. It's like trying to hold too much water in a cup at once - something will give out. It's not just the judges & staff who are affected. Lawyers needed from govt side, are also feeling frustrated & leaving their jobs. This makes the whole system even more overwhelmed. It's a vicious cycle that's hard to break. It's time for the union govt to take help to support the people working in the judiciary by adding adequate staff, & provide the basic infrastructure to run these pending cases.) 2. Freedom from harassment by special interest groups, Govt agencies raids & arm twisting for political donations, 3. Public infrastructure: As of May 2024, as per govt, out of 1,817 projects monitored, 831 are delayed. 458 infrastructure projects in India, each costing Rs 150 crore or more, have experienced cost overruns. 4. Economic climate that support & encourages youth entrepreneurs (by lowering income tax burden), 5. Labour needs to be ready. This doesn't mean labour laws. It means that firms don't like to spend money to conduct re-training. Ironically, Indian firms also don't want to pay better wages to people who are pre-trained & don't need training. 6. Lastly, "availability" of land in the right location. And not about the price of the land or govt to give land for free to industrialists.
Brilliant essay with lots of facts and figures . But as you have put it vested interests will not like it and the common people will not bother to read it .
@@xxyz2023 Bro, instead of such lengthy reply, I will try to finish it in a few sentences India's performance is mediocre. No problem. Mediocre performances are to stay for a long time. Ask top economists. Why don't they favour a fast paced development You are talking about increasing output in the agricultural sector. India's agricultural reforms were planned a few year's before. But no farmers liked this. They are content with age old farming methods, freebies and subsidies. Result... youth's aren't interested in this subject. Deterioration of the environment. Exchequer losses. The sector contributes just 10% of our GDP, but we spend 30-35% of our budget money for farming. Good thought process. Manufacturing - the world is already in an undeclared recession. Effect in the global unemployment & GDP reversal is common even in the most sophisticated countries like Germany, China, USA, Japan, Korea, Singapore, UK, France etc. In such a world, how will you increase your exports? Who will buy your product? Lots of pros and cons are there. India's lack of development is primarily due to its hybrid democracy. China became a superpower in just 2 decades with an iron fisted ruling. There's a big difference and difficulty to rule a country as diverse and contrarian as ours. It's easy to talk and ask Chatgpt to prepare an essay by supplying it with your inputs. Reality is different
@@vinodnair2012 I'll settle for the earlier detailed information. Your reply is very sparse and uninteresting. You sound very bitter ; nothing wrong with AI if it is giving the right perspective. You may decline to accept it if you think you are blessed with incredible acumen yourself and are capable of singlehandedly vouchsafing a superior answer . It certainly isn't a few sentences btw .
@@jeffrylouis6048 They have different govts, their economies are different, diversity is different, population is different, administration is different, way of life is different . We are the most populated country in the world with the largest diversity in the world. It will take time, capex , skills and more govt policies to grow.
Chinese here. Without labor reform, land reform and frankly speaking, social reform that China has gone through, there is NO WAY that India could achieve what China did. It is NOT ABOUT the lacking of FDI. It about that there is NO FERFILE SOIL for any FDI in India for manufacturing. Any foreign investors will be SWALLOWED by local governments and local enterprises (which are controlled by the same people who controlled the local governments) through labor laws, land laws, water, electricity and worse of all, the retroactive tax laws. India, to use farming as example, is salted soil. Nothing foreign will grow there. Only the local plants could grow there. Any foreign plants will be slaughtered by the locals in just several years for the fruits and dump the plants to rot. It is the SOIL! It is the LOCAL PRACTICE. Without a revolution, without a massive social reform, NOTHING WILL CHANGE.
Centre can only build national assets like ports/airports/highways/railways & frame policies such as PLI . It is the individual state Govt.s responsibility to utilise these assets & take advantage of these policies and see to it that factories get built & operated on the ground. The 5 southern states are more por-active as well as UP govt where industrial corridors are developing. Other states like Bihar & West Bengal also need to more pro-active.
So according to you India should give up on Make in India? India must redouble it's efforts to make India a strong industrial economy. One must be blind in both eyes not to realise the strong headwinds that exist in increasing exports when the whole world is almost at the edge of recedsion.
Mexico Vietnam Indonesia Malaysia have all improved their exports and taken a pie out of Chinese supply chain. Only India is lagging with small improvements. But the vanar sena will make you believe that India is No. 1
@@prashanthb6521 In 2022 India was 8th globally for FDI inflow. Mexico was 12th and the rest you mentioned don't feature anywhere in top 15. So research before comment.
Percentage is a bad way to grow, if 10 M people are seeking jobs, 1M people getting jobs means 10 percent. If 100M are looking? 10 percent means 10M. Does it mean the job market hasn’t grown?
I think we must draw some lessons from the Chinese success story in the manufacturing sector. Most notable contributor in that country was due to the humongous incentives provided by the Central government and the Party leadership to provincial governments- who, in turn, used their land resources to provide incentives to build a robust manufacturing community!
I think sector wise analysis would help a lot better as against comparing with GDP as a primary benchmark. For instance..make in India should certainly be compared in auto sector (which is still manufacturing) growth in absolute numbers vs where we were 10 years ago. How many house holds have automobile 10 years before vs now... these should certainly indicate that if there is external dependency or helps in achieving self sufficiency. Similar comparison could be made in appliances sector, textile etc (pretty much anything other than services sector). We can take credit where it is due... Make in India regardless is a very well positioned marketing by the current government. Growth on this initiative should be given another 10 years, I suppose.
The make in India is a glamour front esp in areas requiring advanced teachnology eg science,research, millitary applications.Issue is it takes decades to research and come up with internationally competitive goods here,the rest of the more well off counteries move at breakneck speeds.So by the time you come up with a product its outdated.I have been to China Europe and the US for promoting my business,,the pace of innovation research and goods manufacturing is at another level.So the risk is if theres a sudden war with china etc,Indias esp millitary tech is far far outdated(curreny relies on 70 % russian parta)which puts us at significant disadvantage.The better option is reform the business trade land and labour sectors,attract mnc manufacturing then reverse engineer all (time saved with what everybody already knows no point wasting time) then surge ahead on gov initiated mske in India.BTW this is what china does(full scale gov support to reverse engineer goods what mcs produce that is internationally competitive,then sell local goods to kill off the mncs,eg chinese electric car maker BYD
So the mncs have the masdive capital and advanced tech and macinery to maufacture at scale.Every step can be reversed engineered with gov support and local startups then given generous subsidy to outcompete mnc as china does,you save wasting time ,with trying from scratch with make in india.The make in india should only be given impetus at the right time,as theres multiple issues like lack of international std tech,severe lack of skillsets in labour force and land and power issues anyway ie infrastructure to grapple with.Instead of gov directly taking tax from som mncs contract them with putting part of taxes to direct infrastructure building and maintainence responsibility(avoids gov corruption and bribes)eg Gangzhou highway connecting Hong Kong done this way.etc
Make in India sucked a lot of taxes, govt did what a poor govt after feeding its 70% citizens could do. The failure is on those promoters who are owning those sectors. All they did was make profits and getting rich and richer. Also it’s a govt failure that their UPSC IAS babus who never worked in manufacturing were the watch dog. Look at Pakistan Bangladesh all who have UPSC babu style governess. Little difference in all 3 nations travelling on Lal batti cars
The manufacturing push in India is just not working. Corruption and red tape are big hurdles. Tax and labour reforms are required. Countries like Vietnam are way ahead of India.
Mr. Raghavan, your articles always aim against this government. Atleast this government is working towards bringing mfg to this country to address the low skilled individuals employment... But you never come up with suggestions of improvement. Your approach has always been to support Rahul's narrative...
Not from 2000 it should start from 1998 because 1998 to 2004 it was the NDA government led by Vajpayee, go check what was the gpd during Vajpayee government, then Manmohan Singh government and then Modi government and then take percentage of GDP growth..I dare you.
Imaging the manufacturing growth is this much after so much gov push, if there is no gov push then it may have reduced growth in this section. This article is totally biased
If the share of Manufacturing has been contant wrt GDP then it shows that Government has ensured growth across sectors. Why does this anchor want Manufacturing to grow at the cost of other sectors ? 😂 This anchor is quite hilarious. Print please do something about the quality of your analysts
I think you should first take two or three cold showers before criticising Print over journalism. If you don't have any sense of how an agricultural society industrialises, please don't talk in serious discussions.
The goal of make in India was to increase share of Manufacturing in GDP as manufacturing creates more jobs. But if it unable to increase share of manufacturing in GDP then its a failed policy.
@@nadeem3819 Sir... the GDP has grown and the services industry too. Obviously the manufacturing sector will have smaller share. We are still a hugely service oriented industry. The push for manufacturing is very prevalent from the central level now because we want to increase it. That is why we see a lot of the ministers and bureaucrats talking of FDIs in manufacturing and incentives in manufacturing more than the service sector. It is not a failed policy. The country has opened up a lot of schemes that facilitate the sector only recently like GST, 5G connectivity, infrastructure projects like the ports and highways. It will take time for the complete extraction of the juice from these policies.
India has mainly problems of lower productivity, inefficient processes and little innovation. This coupled with no movement in hard reforms required like labor, land, Judicial and taxation reforms is hindering exponential growth of manufacturing. If people want growth in manufacturing make sure bsuiness friendly labor laws are implemented quickly means hire & fire is need of the hour. End to Political leaning labor unions must be banned otherwise these companies go to another places to make this jobs. Government and enterprises must focus on building more, bigger annd better facilities to launch really good products competitively. Ease of land acquisition need to gather steam. Judiciary must be nudged to deliver cases quickly particularly on contract enforcement, insolvency and tax disputes. Rationalize gst rates, catch income tax evaders, particularly income tax share in overpool tax pool should go up. Like 1 lack crore corpus fund for innovation, policy changes coupled with better acdemic management and more funding for universities is need of the hour. A future technology taskforce must be setup and nation as a whole approach must be taken up to delelop, master next gen tech and products in our country.
Constructive criticism is from a place of love for our country & a desire to improve & to work towards making our nation better. Some often get offended, angry, or defensive, when you point out flaws in our system. However, by labelling critics as "anti-national," they avoid confronting the reality of the problems. People should remember, loving our nation doesn't mean we have to be silent about its flaws.
Excellent compilation. Request you to keep the duration of your videos less than 7 minutes. Request from a soul who does not watch any TV news for 10+ years. Thank you,
I am predicting that 20 years later, this same guy will post a video to discuss 20 years later, why Make In India is still not working. But But But, he will also say that in absolute terms, the Indian manufacturing is growing. What he won't say is that the so-called manufacturing growth is just rising on the rise of the technological and social progress of humanity in the world. In another word, India will have a better life, in general, not because India itself but because humanity has been progressing. This is actually the key objective of keep talking about Make In India, or GDP Growth or whatever. Given time, progress will show. But keep talking about it will prevent any potential social unrest, revolution or even break up of this new India nation. Now you know the inside story of why India is so interested in TALKING BIG. It is buying time. Time will solve everything.
Thanks for speaking the truth and sticking to data. It's bitter and sobering, but has to be disseminated amidst all the government expositions and advertisements about Make in India program. The needle hasn't moved as much as everyone would've liked. A lot remains to be done.
Unlike services it takes a lot of time and effort to bootstrap.manufacturing. imagine the time it took for indian automobile industry to grow. But once done it is usually hard to stop.
Its slow process to industrial hub for India. Instead make India World Trade center/ Make India tax free country by abolishing all taxes to that of turnover tax with compuslsary TDS without any reservation then laundering accounts becomes unnessry.
Such shallow analysis will not deter the country and the government resolve to move ahead with MAKE IN INDIA 😊. Citizens know how things were pre MODI era. It's not about BJP or congress it is about a person putting all he can to correct all wrongs done in the past.
Knew from the begining this made in India was only politically motivated.Actual serious structural changes ,red tape and land reforms not touched.So growth in India is only externally pushed by world trade demands and peoples exposure via media to transformation as usual,nothing to do with government ,sad state of affairs and propaganda as usual from politically inclined.You need a Deng/Atataurk/LKY true statesmen to actually turn India around to its actual potential not populist leaders and nonsense propaganda.Serious business and trade structural reforms are painful but necessary but nothing major has been done apart from superficial crowd pleasing propaganda!
no one will be able to help india. india is a federal syatem. any strong leader will face resistance from states. all the 3 you mentioned held unlimited power to change whatever they wanted. in india modi wanted to change a lot but faced backlash from courts, state governments and religious/ social groups. these things cant be handled without social and cultural unity which is what modi is trying to achieve now.
@@priyojitchatterjee6164 you probably have not read them.Ataturk took power when Turkey had 10 % literacy and muslim country which does allow womens education and was the poorest in region turned it around against all odds including religious and fundamental clerics to leave country with 95 %literacy, westernised and forward looking and rich.Lesson here was his strict rule separating religion and politixs from the begining,death penalty if you brought religion into politics,which eas actually carried out,womens education his top priority (as deveopment of a state depended on womens education)against islamic fundamentalists etc nothing as easy as you make it out.LKY you actually need to look into how singapore was converted from swampland to one of richest counteries in world post british colonialism.Deng you really need to read the history,he changed gears for China and thats what made china today.BTW the latter 2 are multicultural societies
Foresight is what great leaders have,not seen any leaders in Ibdia with it.Even the the only major reform in 1991 was forced by a balance of payments crises for India
@@bijucherian6442 turkey- brutal military coup lead by attaturk which overthrew the Ottoman Empire Singapore - zero institutions to challenge lee kwan yew because of an impoverished and illiterate population. china - a genocidal dictatorship which had killed millions through famine or forced labor camps before deng. all 3 were able to do what they did because they had no opposition. their population was barely literate and they had complete control over the media. india upto indiras emergency was also similar to them. nehru and his daughter squandered the opportunity to reform without any restance. people like you will shout to heaven if modi tries even 1% of that. are you ok with tanks rolling over farm protesters? arnab goswami being the only certified reporter in india? judges, intellectuals being lynched and publicly shamed and called class enemies? those are some of the strategies your favourite people applied to remain in power. every deng you put your hope on can become a mao. every lee kwan yeu you hope on can turn out to be a chavez. evey attaturk could equally be a zia ul haq. i am upset with modi for not being agressive enough but i will never want him to go the dictator route.
@@priyojitchatterjee6164 you got the facts wrong,Ataturk was a freedon fighter did not come to power "brutal coup",actually common foor soldier most famous for standing up to the British at gallipolli and turning the battle around.LKY exactly same accusations u make made by the west or pro west lackeys,truth is he was every time voted democratically by the people to power.Being apologetic and sucking up to political parties does not change the fact India never has any outstanding leader,Modi had an unopposable majority to make major reforms and changes but nothing major done apart from blunders,agree the previous parties and leaders were the same pathetic bunch,but u seem to be trying to make a hero out a zero.Issue is at least try to learn from true statesman how they achieved the turnaround.No use crying and making excuses all the time that India is multicultural and huge etc.There are ways to tackle it ,can teach this on my "State and the Republic course".
Make In India' logo designed by foreign firm, says RTI 😂 Make in India fails to lift manufacturing share in GDP in 10 yrs The share of value addition by manufacturing sector is 15.9% in 2023-24 compared to 16.7% of GDP (in constant price) in 2013-14.
@@tarapadasarkar3108 its really sad to see if u speak truth then everyone make this a political agenda....in india one party is for freebies and one party is for religion votes thats all....and secondly i am not having any interest in politics and doing BJP or congress with u...but the truth is most of the job in manufacturing occupied by AI and robotics and manufacturing will shift to better AI environment country
Only reading the data does not make good clip. Should have. Value addded by what needs to be done and what went wrong .and if initiatives were not then what would have happened. Simply commenting on Data and criticising or appreaciating does not help
Services in post pandemic world is growing faster than manufacturing + manufacturing agglomeration effect needs time. Micro analysis of companies and export complexity analysis shows inclusion in GVC needs high value addition which India has lacked traditionally but is slowly focusing with PLIs.
Cherry picked data. Economic growth should not depend only on exports. Share of Indian exports in world has increased a lot btw when world economy is in poor condition.
Instead of showing growth in absolute terms, you are showing growth per GDP Since india is world's fastest growing GDP it denominator is high so a 6% or 7% growth in production, if taken as a percentage of GDP(which grew 7-8%), will show a lower percentage This will give an impression that there's a shrinkage of production. This not a correct way of analyzing
@Sharad Raghavan. Expected a more nuanced analysis. Manufacturing % share vs value, Impact of COVID/2 wars on our Exim figures, MII was announced in 2014, Physical infra is not created by magic wand in a jiffy, actual investments started post PLIs (2020-21) etc., . Your reportage feels like Chiddu or Rajan talking
I dont know what people thinks that when a scheme is launched it will shows it presence the first very next year but it actually takes time ,,wait now make in india will show its capabilities
The china plus one and russia Ukraine have seriously caused the manufacturing to come to india. I think it will get better with time however there are many drawbacks in the scheme that focuses on large scale industries and not traditional manufacturing or the MSME sectors. Successes are there but government should seriously fix downside if the government if manufacturing is to seriously take off and help a lot of poor and lower middle class graduate to the middle class.
Land reforms, labour reforms and democracy , federal structure is not allowing tough decisions from Govt in manufacturing. We need collaboration with great manufacturing companies to train 20-30 million workforce similarly like 1998 IT boom. Government should provide incentives for private participation in skill set training in accordance with global standards training should provide practical innovative thinking with proven projects implementation
In era of artificial intelligence and robotics it's not easy to remain employment in manufacturing. Only few sector data can't describe it's failure. India own demand is fulfilled by it's domestic supply it should also be considered it's success. Service sector has also replaced some manufacturing sector contribution which also shows more skilled quality of Indian. In high density population of country who has limited natural resources can't perform as much as China .
Lower costum duties to make more production as we lack infrastructure cheap electricity etc labour skills land reforms too favouring industry industry hubs exporting...logistics High costum duties will need to no manufacturing at all
But had Make In India not happened we would have only software and service growth. So overall gdp would have less growth. MIA helped in some sense which was dropping as a %. Atleast it grew same rate as overall gdp which is a success
TCA Raghavan is misleading the viewers. After all, from 26 May 2014 onwards, -India- Bharath has been the champion manufacturer of exaggerated self-glorification, champion manufacturer of imagined cultural superiority, and champion manufacturer of Hindu superstitiousness.
These guys have mastered the art of misrepresenting the data. They are discussing the growth of manufacturing sector with respect to only GDP, which is absolute bullshit. Because there are other sectors such as services/software which have grown exponentially during and post pandemic phase. So the contribution of manufacturing sector in GDP and exports looks low as other sectors have grown faster. I dare you to show below charts to get the correct picture. 1. Year on year percentage growth of manufacturing sector from 2004-2014 in comparison with 2014 to 2024. 2. Year on year percentage growth in exports of manufacturing sector from 2004-2014 in comparison with 2014 to 2024. 3. Jobs generated yearly by manufacturing sector from 2004-2014 in comparison with 2014-2024. The Print, Wire, Scroll, The Quint kabhi nahi sudharenge.
It is all hog wash rhetoric to make this non-biological govt to look good. The reality is this govt has succeeded in feeding feel good kool aid to people. Real work is absent.
Bad Description,The Real size of Manufacturing has risen to nearly 17% of GDP or $ 550+ Billion USDs from $ 290+ Billion USDs in 2014 and All Electronic,Advanced Machinery including solar were imported,But today Electronics Manufacturing Industry has risen beyond $ 120+ Billion USDs from nearly ZERO in 2014 and India's Global share in Electronics and Machinery Exports have risen
@@nukiolbartes6279 Manufacturing will NEVER come until we develop our infrastructure. China did it at the right time, when the whole world had soaring demand. Today the world is in an undeclared recession and many countries are under huge inflationary & labour pressure. Most of the manufacturing sector has become outdated with key technologies playing a central role in this alongside a sluggish growth output and global demand. Even at this time, Indian output is mediocre which is certainly not a bad sign. We should have focused this 25 years ago to block china from reaching this level.
@@nukiolbartes6279 are you not seeing the infrastructure development? The government is mostly pumping its own money. More private players should come in this. This is the block
Phir bhi Chauthi Fail💩Corrupt🩴MoAdani ki sarkaar ghaate mei chal rhi hai aur dusri aur IITian UPSC Topper ❤️ Arvind Kejriwalji 🇮🇳 ki sarkaar 10 saalon se munafe ka budget de rhi hai. ❤🌸World Class sarkaari Schools and Hospitals. 🌞1000 Mahila Sammaan Rashi har mahina. 🌻300 units free electricity 💮20,000 liters free clean water supply. 🌺Clean and Corruption-free governance. 🍁1000/month to 18+ ladies. 🌼 Free Mohalla Clinics. 🏵️Gurrentees Jobs to job aspirants along with leak-proof conduction of exams. 🌸1 crore to the family of shaheed Indian army soldiers. Aam Aadmi Party🇮🇳❤️
Percentages, stated alone are misleading. You ought to state the numbers also. It is possible that other sectors are growing faster than manufacturing sector. In 2013-14, our GDP was small, though the percentages might seem impressive.
Honestly the more larger investments in the manufacturing sector happening in India is only very recent,
It should need 2 or 3 more years to see the effects of this
So the first 7-8yrs should be ignored?
Oh, the first 8 years are a waste
@@nukiolbartes6279 We had covid. Manufacturing is not like service where you set up a computer and voila! it takes time for manufacturing to increase
@@firstpostcommenter8078 its less than 52 years
Yes. Takes time for the eco system to build . It may take another 10 years. Also private capex picked up recently.
Our service sector showed that we have talent and skill to grow at over 12pc, we could do the same in manufacturing as well . But because we lacked adequate infrastructure on the other hand the service sector hardly needs road, airports,ports for exports
Service sector except IT and ITeS doesn't require much talent. And IT and ITes are not the biggest segment in overall services. Also services sector doesn't generate much jobs.
Without infrastructure costom duties on semi finished raw factory material is shifty of bjp
Ten years is too little time to organize holistic infrastructure, skillsets, equipment, copyright / intellectual right sanctions, raw materials , manufacture and cost effective sustainability of markets. Indigenisation is progressively achieved .
Absolutely. Need constant focus. May take 10 years for visible changes
I used to think very often that, with the sort of tenacity we have today towards manufacturing , had the country had this during our father's and grandfather's times, the congress regime, our country would have been different.
@@User-mncbjlfjrebxkl I think maintaining status quo was beneficial for the Congress and the bureaucracy to keep their power. It was a rotten system that prevailed on people's ignorance.
Garlic 🧄 also started arriving in India from China after smartphones. Make/Made in India smartly failed to show it's appearance.
@@hrp4566 Nope. endia will never succeed.
In 1970s when I was in school, I asked my father who was a government servant why we do not manufacture more telephones and telephone lines as there was a long waiting period for getting a telephone connection, he said that telephone was a luxury, and that the government has to spend more money on poverty alleviation rather than on luxury , Then I asked him why the manufacturing cannot be given to private companies since there were companies making fridge and radios , He told me that telephone is something which can be used be enemies of India and we cannot entrust this to private players, seemed very logic answer to me then.
No power can stop india's economic progress, development, growth, stability, and prosperity. Atama nirbhar BHARAT. Good governance effective structural reform policies. Sabka saath Sabka vishvash sabka prayash sabka vikash
7-8% growth is not slow. India's service sector is still growing very rapidly mainly IT, Fintech etc. therefore percentage not going down itself shows fast growth. However, India's rank in global manufacturing has risen to 5th position from 9th position in FY2013-14, which shows how strong India's manufacturing growth has been in the global context.
What about the statistics for individual state govts? Some states, cross-subsidize electricity, making it costly for industry to make it cheap for farmers and households.
So, manufacturing might have increased in some states, while declining in others, making the overall average for India to remain constant. Centre can't do everything.
Dishonest as fugg, "same share of GDP", meanwhile India has 5x the software jobs, and other service sectors grow. The fact that this has kept pace is surprising.
Yes that's what I thought, they are talking about percentage in GDP, but we have to understand GDP has also grown, so absolute value of manufacturing contribution must have grown too, it is just that service has grown faster than manufacturing because of lack of infrastructure, lack of support from the government etc.
But the review is not dishonest, I think the performance is still below our expectations...
endia software jobs will soon collapse.. the advent of AI will replace all of endian low-cost IT tech support jobs.
And this AI will speak without the terrible, hard-to-understand English with horrible heavy endian accent.
endia software jobs will soon collapse.. China/US's AI will take over.
@@SengpoSatbang nah, low cost maintenance is done by consulting firms who will find some other shitty work to do.
Bro, Comparing GDP percentage 😅. GDP itself grown 300% from 1 trillion to 3.7 trillion. That means its growing rate is 170 billion to 500 to 550 billion. Common man…kuch be 😅
For the amount of government support this sector received like subsidy, tax credit and import restrictions at the expense of consumers, the sector "progress" is pitiful.
@@therandomthings6933 New TYPE of Jobs But No of Heads Less
You need a serious fact check bro 😂 don't just copy paste whatsapp msgs
This presentation would have been more incisive and informative with the following data points:
1. What was the trajectory of manufacturing in absolute numbers prior to 2014 and post?
Have we managed to arrest a decline.
2. What have we achieved in terms of strategic independence in sectors such as API, defence electronics….
3. Is a sustainable base being set, if not what are the factors which hamper growth & where are we going wrong?
4. Has manufacturing had a trickle down effect on other support services
You can continue to research behind the data and make a presentation that could be truly pioneering rather than superficial
India in Process of " Modernise " Make in India
No matter what clever words you throw in.. endia will always be endia..
what about absolute numbers ? May be Service sector grownbfaster leading to same or less share of Manufacturing sector in GDP etc.,
Absolute numbers it would have definately increased. However the decline in relative terms also concerning, govt needs to find ways to boost manufacturing in msme also not just very large corporates.
To be fair the semiconductor factories (5-6 comming up soon), apple, ola ,defense are all excellent but but but they don't employ many people or are enough for boosting manufacturing to GDP.
Most of Indians are in the semi rural tonrural areas and if you can get policies that cater to them you can see a substantial jump in manu to GDP and less agri to GDP which is tough to achieve.
I think ...jaise jaise infrastructure improve hoga...logistics cost km hoga..waise waise manufacturing sector improve hoga...
Some missing elements here…
1. Can manufacturing India on absolute basis maintain the current rate of growth without govt incentives? Since China is the global manufacturing base, any country that’s able to grow this space while competing with China can be considered good.
2. Is export as percentage of GDP not increasing, correlating to the fact that India has a high demand for domestic consumption? Businesses have sufficient demand to generate in India without having to look at overseas markets. Something to think about.
In 2014 indian economy was 1.5 and manufacturing sector contribute 17%......in 2024 Indian economy is 3.95 billion and manufacturing contribution is 17 % that means its contribution increased.
My father used to tell me how the country was during the Congress regimes. License raj made sure that the country always remain a socialist hellhole with intense bureaucracy. We had the biggest democracy in the world like the US but almost nil economic freedom. Only a small percentage of people were literate in India and knew economics well enough. Today people have access to so many media and knowledge. The LPG reforms would have never happened if we didn't face a BOP problem and the urging by the World bank. Today the country has started to understand how decades were wasted and is trying to improve on itself. This country has a lot of problems. Ranging from corruption to unemployment, stupid education system and judicial clutter. But slowly reforms are happening and initiatives like Make in India surely are contributing a lot. It is also refreshing to see people like Kabil Sibal concerned about per capita income after decades during his conversation with Subrahmanium Swamy.
From License Raj we have entered Oligarchy. Only a few big guys are earning good profits. Thanks to your non-biological friends.
@@prashanthb6521 Spoken like a true buffoon 👍bravo👏👏
@@prashanthb6521 spoken like Rahul Gandhi 👍 bravo👏👏
While the growth hasn't been impressive and my expectations were more, it did grow in absolute terms. I believe our current infra is still not enough to make the sector boom, but we're close and it will compound very quickly.
The effort and initiatives and push has been wonderful. That was missing before.
Constructive criticism is from a place of love for our country & a desire to improve & to work towards making our nation better. Some often get offended, angry, or defensive, when you point out flaws in our system. However, by labelling critics as "anti-national," they avoid confronting the reality of the problems. People should remember, loving our nation doesn't mean we have to be silent about its flaws.
There are 2 types of manufacturing sectors: Local (National/domestic) & Global. Unemployment is all over India, but Bihar & Rajasthan, Haryana are suffering more due to severe lack of any type of manufacturing in these States. Corporate loan is 5% to 7% while, farmers pay 11% for their loans. Only around 122 million people in India have jobs that pay a salary, out of 582 million workers in India.
The main issues in fall in manufacturing are the following: inflation combined with 5X high custom tariffs, lack of encouraging entrepreneurial environment (tax burden on youth with high income), and the big players giving donations are under political protection while young players get harassed & arm twisted by govt agencies. A rigid union govt in any country, allows politicians to maintain power despite failures, & allows organized corruption to grow from within the system.
India's manufacturing has fallen from 17% to 13% to 11%, as per official govt data of Index of Industrial production performance in India. Meanwhile, Indian banks have written off 10,09,511 crores of loans in 5 years. As per Organization for Economic Cooperation & Development's 2023 database, China global manufacturing is 24%, compared to India's being less than 3% since many decades.
PM's Skill India mission, launched in 2015, delivered lacklustre results. Its flagship programme, the Pradhan Mantri Kaushal Vikas Yojana, is largely deemed to be a failure, with dismal placement rates of 18.4% for version 1.0, 23.4% & just 10.1% for version 2.0 & 3.0, respectively. India is placed 134 out-of 193 in the UN's human development 2022 report. Sbi underwrites the entire loan of 12,770 crores of Company A, who has created far fewer jobs than any one company, Amul/TATA/any major bank.
Indians are desperately illegally going into developed countries to find good jobs. We are also the largest importer of foreign military items from the west. Goodwill is essential for progress; so is avoiding becoming harmful, like China. China became developed when they had the highest youth population. India's Union Govt says they can't help if there is high unemployment. While, corporate tax cut by half in 10 years. The number of wilful defaulters of loans have peaked 1.6 times from 2014 to 2023.
India has missed out on the export opportunity presented by China’s withdrawal from labour-intensive manufacturing sectors such as apparel, leather, textiles, footwear, gems & jewellery (in fact it has dropped nearly 12% compared to pre-pandemic levels 5 years ago); while, countries like Vietnam, Poland, Germany, & France have managed to increase their global export share in major job-creating sectors. While, China has successfully managed to push-out Indian SMEs from the fast-growing Asian markets, using free-trade agreements like Regional Comprehensive Economic Partnership.
India's Union government’s economic philosophy was the Washington Consensus "trickle-down" economic development model (which failed in the US). It only makes the super rich even richer, while the majority become beggars. Majority of household now have no choice but to spend just on bare essentials for survival, everything is costly & high gst. When common people fight with each other for scraps; the elites draw further into their private gated communities.
In direct taxes, it is the individual income tax that has overtaken corporate taxes in 2022-2023. It is also the people who pay the most taxes that have no social security & pension support. People, mostly from the middle class, are contributing more in taxes than corporates, even as the stock markets have been quadrupled. The government's gamble was that the tax break would boost income & earn it taxes. But that hasn't been the case. Salaried individuals get no refund on GST paid, but corporates get an input tax credit.
Jobs are driven by middle-class private sector, particularly through small & medium-sized businesses. Middle-class entrepreneurs play a crucial role in not only jobs but also in wages growth, which boosts per capita income of a nation; these directly depend on Union govt's economic policies & increased funding to states for education. Single election will be a note ban type of blunder, making elected politicians more unaccountable.
Investment potential index of Indian states are based on the following points:
1. Business perceptions: pleasant & easy experience.
(The union govt is responsible for making sure the courts have enough staff & resources, but they're not doing it. This means that judges & staff are overwhelmed with these pending cases. There are too many cases & not enough people to handle them. It's like trying to hold too much water in a cup at once - something will give out. It's not just the judges & staff who are affected. Lawyers needed from govt side, are also feeling frustrated & leaving their jobs. This makes the whole system even more overwhelmed. It's a vicious cycle that's hard to break. It's time for the union govt to take help to support the people working in the judiciary by adding adequate staff, & provide the basic infrastructure to run these pending cases.)
2. Freedom from harassment by special interest groups, Govt agencies raids & arm twisting for political donations,
3. Public infrastructure: As of May 2024, as per govt, out of 1,817 projects monitored, 831 are delayed. 458 infrastructure projects in India, each costing Rs 150 crore or more, have experienced cost overruns.
4. Economic climate that support & encourages youth entrepreneurs (by lowering income tax burden),
5. Labour needs to be ready. This doesn't mean labour laws. It means that firms don't like to spend money to conduct re-training. Ironically, Indian firms also don't want to pay better wages to people who are pre-trained & don't need training.
6. Lastly, "availability" of land in the right location. And not about the price of the land or govt to give land for free to industrialists.
Brilliant essay with lots of facts and figures . But as you have put it vested interests will not like it and the common people will not bother to read it .
@@xcel5203 yes, vested interests will not like a reply from artificial intelligence.
@@xxyz2023 Bro, instead of such lengthy reply, I will try to finish it in a few sentences
India's performance is mediocre. No problem. Mediocre performances are to stay for a long time. Ask top economists. Why don't they favour a fast paced development
You are talking about increasing output in the agricultural sector. India's agricultural reforms were planned a few year's before. But no farmers liked this. They are content with age old farming methods, freebies and subsidies. Result... youth's aren't interested in this subject. Deterioration of the environment. Exchequer losses. The sector contributes just 10% of our GDP, but we spend 30-35% of our budget money for farming. Good thought process.
Manufacturing - the world is already in an undeclared recession. Effect in the global unemployment & GDP reversal is common even in the most sophisticated countries like Germany, China, USA, Japan, Korea, Singapore, UK, France etc. In such a world, how will you increase your exports? Who will buy your product?
Lots of pros and cons are there. India's lack of development is primarily due to its hybrid democracy. China became a superpower in just 2 decades with an iron fisted ruling. There's a big difference and difficulty to rule a country as diverse and contrarian as ours. It's easy to talk and ask Chatgpt to prepare an essay by supplying it with your inputs. Reality is different
@@vinodnair2012 I'll settle for the earlier detailed information. Your reply is very sparse and uninteresting. You sound very bitter ; nothing wrong with AI if it is giving the right perspective. You may decline to accept it if you think you are blessed with incredible acumen yourself and are capable of singlehandedly vouchsafing a superior answer . It certainly isn't a few sentences btw .
@@xcel5203 you will settle for anything that suits your mindset and politics. Nothing else
COVID has its effect. We cannot neglect the COVID effect which effected manufacturing more tha services
@anc4611 How come Thailand and Indonesia and Vietnam overtake india in manufacturing during the last 10 years despite Covid?
@@jeffrylouis6048 They have different govts, their economies are different, diversity is different, population is different, administration is different, way of life is different . We are the most populated country in the world with the largest diversity in the world. It will take time, capex , skills and more govt policies to grow.
@@User-mncbjlfjrebxkl Say everything possible except admiting that Modi govt has failed.
@jeffrylo😂😂😂😂uis6048
@cheeseo😂😂😂😂ngho5494
The percentage of manufacturing as percentage of GDP has not changed, but GDP itself has grown around 7 % that means manufacturing has also grown 7 %
Chinese here. Without labor reform, land reform and frankly speaking, social reform that China has gone through, there is NO WAY that India could achieve what China did. It is NOT ABOUT the lacking of FDI. It about that there is NO FERFILE SOIL for any FDI in India for manufacturing. Any foreign investors will be SWALLOWED by local governments and local enterprises (which are controlled by the same people who controlled the local governments) through labor laws, land laws, water, electricity and worse of all, the retroactive tax laws.
India, to use farming as example, is salted soil. Nothing foreign will grow there. Only the local plants could grow there. Any foreign plants will be slaughtered by the locals in just several years for the fruits and dump the plants to rot. It is the SOIL! It is the LOCAL PRACTICE. Without a revolution, without a massive social reform, NOTHING WILL CHANGE.
Centre can only build national assets like ports/airports/highways/railways & frame policies such as PLI . It is the individual state Govt.s responsibility to utilise these assets & take advantage of these policies and see to it that factories get built & operated on the ground. The 5 southern states are more por-active as well as UP govt where industrial corridors are developing. Other states like Bihar & West Bengal also need to more pro-active.
UP government isn't developing any meaningful infrastructure it's growth is in advertisement not on the ground.
West Bengal is a failed state. It seems working only cause it is a part of India.
Dhoti
So according to you India should give up on Make in India? India must redouble it's efforts to make India a strong industrial economy. One must be blind in both eyes not to realise the strong headwinds that exist in increasing exports when the whole world is almost at the edge of recedsion.
Mexico Vietnam Indonesia Malaysia have all improved their exports and taken a pie out of Chinese supply chain. Only India is lagging with small improvements. But the vanar sena will make you believe that India is No. 1
@@prashanthb6521 In 2022 India was 8th globally for FDI inflow. Mexico was 12th and the rest you mentioned don't feature anywhere in top 15. So research before comment.
Percentage is a bad way to grow, if 10 M people are seeking jobs, 1M people getting jobs means 10 percent. If 100M are looking? 10 percent means 10M. Does it mean the job market hasn’t grown?
Think what would have happened if MII was not launched. Share of manufacturing in GDP would have fallen. As is the case in Japan and Germany
I think we must draw some lessons from the Chinese success story in the manufacturing sector. Most notable contributor in that country was due to the humongous incentives provided by the Central government and the Party leadership to provincial governments- who, in turn, used their land resources to provide incentives to build a robust manufacturing community!
I think sector wise analysis would help a lot better as against comparing with GDP as a primary benchmark. For instance..make in India should certainly be compared in auto sector (which is still manufacturing) growth in absolute numbers vs where we were 10 years ago. How many house holds have automobile 10 years before vs now... these should certainly indicate that if there is external dependency or helps in achieving self sufficiency. Similar comparison could be made in appliances sector, textile etc (pretty much anything other than services sector). We can take credit where it is due... Make in India regardless is a very well positioned marketing by the current government. Growth on this initiative should be given another 10 years, I suppose.
The make in India is a glamour front esp in areas requiring advanced teachnology eg science,research, millitary applications.Issue is it takes decades to research and come up with internationally competitive goods here,the rest of the more well off counteries move at breakneck speeds.So by the time you come up with a product its outdated.I have been to China Europe and the US for promoting my business,,the pace of innovation research and goods manufacturing is at another level.So the risk is if theres a sudden war with china etc,Indias esp millitary tech is far far outdated(curreny relies on 70 % russian parta)which puts us at significant disadvantage.The better option is reform the business trade land and labour sectors,attract mnc manufacturing then reverse engineer all (time saved with what everybody already knows no point wasting time) then surge ahead on gov initiated mske in India.BTW this is what china does(full scale gov support to reverse engineer goods what mcs produce that is internationally competitive,then sell local goods to kill off the mncs,eg chinese electric car maker BYD
So the mncs have the masdive capital and advanced tech and macinery to maufacture at scale.Every step can be reversed engineered with gov support and local startups then given generous subsidy to outcompete mnc as china does,you save wasting time ,with trying from scratch with make in india.The make in india should only be given impetus at the right time,as theres multiple issues like lack of international std tech,severe lack of skillsets in labour force and land and power issues anyway ie infrastructure to grapple with.Instead of gov directly taking tax from som mncs contract them with putting part of taxes to direct infrastructure building and maintainence responsibility(avoids gov corruption and bribes)eg Gangzhou highway connecting Hong Kong done this way.etc
Make in India sucked a lot of taxes, govt did what a poor govt after feeding its 70% citizens could do. The failure is on those promoters who are owning those sectors. All they did was make profits and getting rich and richer. Also it’s a govt failure that their UPSC IAS babus who never worked in manufacturing were the watch dog. Look at Pakistan Bangladesh all who have UPSC babu style governess. Little difference in all 3 nations travelling on Lal batti cars
It is amazing that endia's manufacturing industry has not entirely collapse.
That itself is an incredible success for endia..
The manufacturing push in India is just not working. Corruption and red tape are big hurdles. Tax and labour reforms are required.
Countries like Vietnam are way ahead of India.
This is eye opening. Even though the non-biological vanar sena will make you believe otherwise. Thanks to TCA for telling the truth.
Mr. Raghavan, your articles always aim against this government. Atleast this government is working towards bringing mfg to this country to address the low skilled individuals employment... But you never come up with suggestions of improvement. Your approach has always been to support Rahul's narrative...
Why has the chart started from 2014. Show it from 2000,I dare you.
Not from 2000 it should start from 1998 because 1998 to 2004 it was the NDA government led by Vajpayee, go check what was the gpd during Vajpayee government, then Manmohan Singh government and then Modi government and then take percentage of GDP growth..I dare you.
What about sbsolute numbers..e.g. Defence exports are 37 times 2013 numbers
No its not, India has risen in both manufacturing share in global output as well as value added manufavturing.
Imaging the manufacturing growth is this much after so much gov push, if there is no gov push then it may have reduced growth in this section. This article is totally biased
All thanks to Mogliji ! Our Manufacturing is soaring as fast as Hero cycle !
Vande Mataram, Bharat Mata Ki Jai
Statistics is always tricky. Show actual growth in manufacturing GDP value. Service industry is export driven and hence % is always higher.
If the share of Manufacturing has been contant wrt GDP then it shows that Government has ensured growth across sectors. Why does this anchor want Manufacturing to grow at the cost of other sectors ? 😂 This anchor is quite hilarious. Print please do something about the quality of your analysts
He wants to sound sophisticated maybe.
I think you should first take two or three cold showers before criticising Print over journalism. If you don't have any sense of how an agricultural society industrialises, please don't talk in serious discussions.
Because manufacturing creates more jobs then services and higher paying jobs than agriculture
You need to study 9th std economics
The goal of make in India was to increase share of Manufacturing in GDP as manufacturing creates more jobs. But if it unable to increase share of manufacturing in GDP then its a failed policy.
@@nadeem3819 Sir... the GDP has grown and the services industry too. Obviously the manufacturing sector will have smaller share. We are still a hugely service oriented industry. The push for manufacturing is very prevalent from the central level now because we want to increase it. That is why we see a lot of the ministers and bureaucrats talking of FDIs in manufacturing and incentives in manufacturing more than the service sector. It is not a failed policy. The country has opened up a lot of schemes that facilitate the sector only recently like GST, 5G connectivity, infrastructure projects like the ports and highways. It will take time for the complete extraction of the juice from these policies.
India has mainly problems of lower productivity, inefficient processes and little innovation. This coupled with no movement in hard reforms required like labor, land, Judicial and taxation reforms is hindering exponential growth of manufacturing. If people want growth in manufacturing make sure bsuiness friendly labor laws are implemented quickly means hire & fire is need of the hour. End to Political leaning labor unions must be banned otherwise these companies go to another places to make this jobs. Government and enterprises must focus on building more, bigger annd better facilities to launch really good products competitively. Ease of land acquisition need to gather steam. Judiciary must be nudged to deliver cases quickly particularly on contract enforcement, insolvency and tax disputes. Rationalize gst rates, catch income tax evaders, particularly income tax share in overpool tax pool should go up. Like 1 lack crore corpus fund for innovation, policy changes coupled with better acdemic management and more funding for universities is need of the hour. A future technology taskforce must be setup and nation as a whole approach must be taken up to delelop, master next gen tech and products in our country.
Gaddar
Does this print you tube channel run under china funds?
Constructive criticism is from a place of love for our country & a desire to improve & to work towards making our nation better. Some often get offended, angry, or defensive, when you point out flaws in our system. However, by labelling critics as "anti-national," they avoid confronting the reality of the problems. People should remember, loving our nation doesn't mean we have to be silent about its flaws.
Contribution to GDP? That is a false benchmark,. India is a services superpower and for manufacturing to complete it is wrong
Excellent compilation. Request you to keep the duration of your videos less than 7 minutes. Request from a soul who does not watch any TV news for 10+ years. Thank you,
Another magical analysis from the print from Shekar 😅
Nothing magical here.Manufacturing has dropped,exports dropped.Only Adani's and Ambani's get richer with their political patronage.
I am predicting that 20 years later, this same guy will post a video to discuss 20 years later, why Make In India is still not working. But But But, he will also say that in absolute terms, the Indian manufacturing is growing. What he won't say is that the so-called manufacturing growth is just rising on the rise of the technological and social progress of humanity in the world.
In another word, India will have a better life, in general, not because India itself but because humanity has been progressing. This is actually the key objective of keep talking about Make In India, or GDP Growth or whatever. Given time, progress will show. But keep talking about it will prevent any potential social unrest, revolution or even break up of this new India nation. Now you know the inside story of why India is so interested in TALKING BIG. It is buying time. Time will solve everything.
Make in India saw success in mobile manufacturing and assembling ,Toy manufacturing and defence products however manufacturing failed in many sectors.
Why most of new billionaires in India are coming from Manufacturing sector
The labour shortage is killing manufacturing. Freebees is the culprit.
Thanks for speaking the truth and sticking to data. It's bitter and sobering, but has to be disseminated amidst all the government expositions and advertisements about Make in India program. The needle hasn't moved as much as everyone would've liked. A lot remains to be done.
Unlike services it takes a lot of time and effort to bootstrap.manufacturing. imagine the time it took for indian automobile industry to grow. But once done it is usually hard to stop.
When a government doesn't know what they are doing...
Its slow process to industrial hub for India. Instead make India World Trade center/ Make India tax free country by abolishing all taxes to that of turnover tax with compuslsary TDS without any reservation then laundering accounts becomes unnessry.
Make in India is 90% import from China and assemble in India 😂😂😂
Contribution of manufacturing as a share of GDP remaining flat is acceptable if it has helped reduce imports into our country. I'll still take that!
Such shallow analysis will not deter the country and the government resolve to move ahead with MAKE IN INDIA 😊. Citizens know how things were pre MODI era. It's not about BJP or congress it is about a person putting all he can to correct all wrongs done in the past.
Even if proper data is presented, sycophancy will not leave the body. New India !
Knew from the begining this made in India was only politically motivated.Actual serious structural changes ,red tape and land reforms not touched.So growth in India is only externally pushed by world trade demands and peoples exposure via media to transformation as usual,nothing to do with government ,sad state of affairs and propaganda as usual from politically inclined.You need a Deng/Atataurk/LKY true statesmen to actually turn India around to its actual potential not populist leaders and nonsense propaganda.Serious business and trade structural reforms are painful but necessary but nothing major has been done apart from superficial crowd pleasing propaganda!
no one will be able to help india. india is a federal syatem. any strong leader will face resistance from states. all the 3 you mentioned held unlimited power to change whatever they wanted. in india modi wanted to change a lot but faced backlash from courts, state governments and religious/ social groups. these things cant be handled without social and cultural unity which is what modi is trying to achieve now.
@@priyojitchatterjee6164 you probably have not read them.Ataturk took power when Turkey had 10 % literacy and muslim country which does allow womens education and was the poorest in region turned it around against all odds including religious and fundamental clerics to leave country with 95 %literacy, westernised and forward looking and rich.Lesson here was his strict rule separating religion and politixs from the begining,death penalty if you brought religion into politics,which eas actually carried out,womens education his top priority (as deveopment of a state depended on womens education)against islamic fundamentalists etc nothing as easy as you make it out.LKY you actually need to look into how singapore was converted from swampland to one of richest counteries in world post british colonialism.Deng you really need to read the history,he changed gears for China and thats what made china today.BTW the latter 2 are multicultural societies
Foresight is what great leaders have,not seen any leaders in Ibdia with it.Even the the only major reform in 1991 was forced by a balance of payments crises for India
@@bijucherian6442
turkey- brutal military coup lead by attaturk which overthrew the Ottoman Empire
Singapore - zero institutions to challenge lee kwan yew because of an impoverished and illiterate population.
china - a genocidal dictatorship which had killed millions through famine or forced labor camps before deng.
all 3 were able to do what they did because they had no opposition. their population was barely literate and they had complete control over the media. india upto indiras emergency was also similar to them. nehru and his daughter squandered the opportunity to reform without any restance. people like you will shout to heaven if modi tries even 1% of that. are you ok with tanks rolling over farm protesters? arnab goswami being the only certified reporter in india? judges, intellectuals being lynched and publicly shamed and called class enemies? those are some of the strategies your favourite people applied to remain in power. every deng you put your hope on can become a mao. every lee kwan yeu you hope on can turn out to be a chavez. evey attaturk could equally be a zia ul haq. i am upset with modi for not being agressive enough but i will never want him to go the dictator route.
@@priyojitchatterjee6164 you got the facts wrong,Ataturk was a freedon fighter did not come to power "brutal coup",actually common foor soldier most famous for standing up to the British at gallipolli and turning the battle around.LKY exactly same accusations u make made by the west or pro west lackeys,truth is he was every time voted democratically by the people to power.Being apologetic and sucking up to political parties does not change the fact India never has any outstanding leader,Modi had an unopposable majority to make major reforms and changes but nothing major done apart from blunders,agree the previous parties and leaders were the same pathetic bunch,but u seem to be trying to make a hero out a zero.Issue is at least try to learn from true statesman how they achieved the turnaround.No use crying and making excuses all the time that India is multicultural and huge etc.There are ways to tackle it ,can teach this on my "State and the Republic course".
Make In India' logo designed by foreign firm, says RTI 😂
Make in India fails to lift manufacturing share in GDP in 10 yrs
The share of value addition by manufacturing sector is 15.9% in 2023-24 compared to 16.7% of GDP (in constant price) in 2013-14.
the research does not seem to be adequate to make such negative conclusions...
Food supply was slowed to also feed 80 crores Indians,,,,you dint feel the need to mention that??
Manufacturing yield will come into reality in the 2030s. Land, labor, and farm reform could add another 2% boost to its GDP.
till then most job occupied by AI or robotics specially in manufacturing
@@hardikmehra1282 Congress will not see its PM for next 15-20 years.
@@tarapadasarkar3108 its really sad to see if u speak truth then everyone make this a political agenda....in india one party is for freebies and one party is for religion votes thats all....and secondly i am not having any interest in politics and doing BJP or congress with u...but the truth is most of the job in manufacturing occupied by AI and robotics and manufacturing will shift to better AI environment country
Only reading the data does not make good clip. Should have. Value addded by what needs to be done and what went wrong .and if initiatives were not then what would have happened. Simply commenting on Data and criticising or appreaciating does not help
Services in post pandemic world is growing faster than manufacturing + manufacturing agglomeration effect needs time. Micro analysis of companies and export complexity analysis shows inclusion in GVC needs high value addition which India has lacked traditionally but is slowly focusing with PLIs.
Cherry picked data. Economic growth should not depend only on exports. Share of Indian exports in world has increased a lot btw when world economy is in poor condition.
Instead of showing growth in absolute terms, you are showing growth per GDP
Since india is world's fastest growing GDP it denominator is high so a 6% or 7% growth in production, if taken as a percentage of GDP(which grew 7-8%), will show a lower percentage
This will give an impression that there's a shrinkage of production.
This not a correct way of analyzing
@Sharad Raghavan. Expected a more nuanced analysis. Manufacturing % share vs value, Impact of COVID/2 wars on our Exim figures, MII was announced in 2014, Physical infra is not created by magic wand in a jiffy, actual investments started post PLIs (2020-21) etc., . Your reportage feels like Chiddu or Rajan talking
States need to get involved more
I dont know what people thinks that when a scheme is launched it will shows it presence the first very next year but it actually takes time ,,wait now make in india will show its capabilities
The china plus one and russia Ukraine have seriously caused the manufacturing to come to india. I think it will get better with time however there are many drawbacks in the scheme that focuses on large scale industries and not traditional manufacturing or the MSME sectors.
Successes are there but government should seriously fix downside if the government if manufacturing is to seriously take off and help a lot of poor and lower middle class graduate to the middle class.
Land reforms, labour reforms and democracy , federal structure is not allowing tough decisions from Govt in manufacturing.
We need collaboration with great manufacturing companies to train 20-30 million workforce similarly like 1998 IT boom.
Government should provide incentives for private participation in skill set training in accordance with global standards training should provide practical innovative thinking with proven projects implementation
In era of artificial intelligence and robotics it's not easy to remain employment in manufacturing. Only few sector data can't describe it's failure. India own demand is fulfilled by it's domestic supply it should also be considered it's success. Service sector has also replaced some manufacturing sector contribution which also shows more skilled quality of Indian. In high density population of country who has limited natural resources can't perform as much as China .
Lower costum duties to make more production as we lack infrastructure cheap electricity etc labour skills land reforms too favouring industry industry hubs exporting...logistics
High costum duties will need to no manufacturing at all
Private corporates clap and praise Modi ji They grabbed the best tax schemes. They don't have confidence in Modi ji, to make private investment
Please make a similar video on service sector.
But had Make In India not happened we would have only software and service growth. So overall gdp would have less growth. MIA helped in some sense which was dropping as a %. Atleast it grew same rate as overall gdp which is a success
LOL. Manufacturing was at the same level it is now. You didnt even see the chart which was presented ?
@@prashanthb6521 it is as a percentage man. When service is growing so fast. You base GDP grows. It's not absolute. Thats basic Maths. LOL
hardly
Rahul Gandhi will start "Make in Italy" from the Christmas occasion onwards
TCA Raghavan is misleading the viewers. After all, from 26 May 2014 onwards, -India- Bharath has been the champion manufacturer of exaggerated self-glorification, champion manufacturer of imagined cultural superiority, and champion manufacturer of Hindu superstitiousness.
😂
Let’s forget about the minor blip that covid caused😂..who needs facts when you have a good story to tell😅
Can someone suggests means to increase mfg percent to GDP in coming years?
Make (banao) in India = Indian public ko banate raho
But GDP growth is itself is faster than
Good informative video
The world makes in India which is reflected in the record trade deficits yoy
Automation will gradually reduce the employment. Very difficult to get skilled labour and expensive so companies will go for automation.
These guys have mastered the art of misrepresenting the data. They are discussing the growth of manufacturing sector with respect to only GDP, which is absolute bullshit. Because there are other sectors such as services/software which have grown exponentially during and post pandemic phase. So the contribution of manufacturing sector in GDP and exports looks low as other sectors have grown faster. I dare you to show below charts to get the correct picture.
1. Year on year percentage growth of manufacturing sector from 2004-2014 in comparison with 2014 to 2024.
2. Year on year percentage growth in exports of manufacturing sector from 2004-2014 in comparison with 2014 to 2024.
3. Jobs generated yearly by manufacturing sector from 2004-2014 in comparison with 2014-2024.
The Print, Wire, Scroll, The Quint kabhi nahi sudharenge.
When the total percentages have not increased how can the individual figures increase ?
@@xcel5203 they can, manufacturing is growing at the same rate as GDP.
It is all hog wash rhetoric to make this non-biological govt to look good. The reality is this govt has succeeded in feeding feel good kool aid to people. Real work is absent.
We are the place where gods are given birth to. All the godd in the world comes from us. Today we can also give birth to other gods.
Make in India is Modi's Jhumla. Assembling is not manufacturing.
You are mandbuddhi like pappu
As expected from PRINT, Antinationals.
Who's here after the India's defence manufacturing industry hit it's all time high exports?
Do you guys want the 56 inch tongue to send ED and CBI to you?
Bad Description,The Real size of Manufacturing has risen to nearly 17% of GDP or $ 550+ Billion USDs from $ 290+ Billion USDs in 2014 and All Electronic,Advanced Machinery including solar were imported,But today Electronics Manufacturing Industry has risen beyond $ 120+ Billion USDs from nearly ZERO in 2014 and India's Global share in Electronics and Machinery Exports have risen
How much donations Mr Soros made?
Fake in India 🤣🤣🤣🤣
Print will NEVER find anything good witg this government.
U can mention something good about this government here.
@@nukiolbartes6279 they haven't done anything good. Is that fine?
@@nukiolbartes6279 Manufacturing will NEVER come until we develop our infrastructure. China did it at the right time, when the whole world had soaring demand.
Today the world is in an undeclared recession and many countries are under huge inflationary & labour pressure. Most of the manufacturing sector has become outdated with key technologies playing a central role in this alongside a sluggish growth output and global demand.
Even at this time, Indian output is mediocre which is certainly not a bad sign. We should have focused this 25 years ago to block china from reaching this level.
@@vinodnair2012 ok so ur point govt should focus on infrastructure development. Has it been doing it? If not whats the blocker?
@@nukiolbartes6279 are you not seeing the infrastructure development? The government is mostly pumping its own money. More private players should come in this. This is the block
It need time
Work with China 😂
Phir bhi Chauthi Fail💩Corrupt🩴MoAdani ki sarkaar ghaate mei chal rhi hai aur dusri aur IITian UPSC Topper ❤️ Arvind Kejriwalji 🇮🇳 ki sarkaar 10 saalon se munafe ka budget de rhi hai.
❤🌸World Class sarkaari Schools and Hospitals.
🌞1000 Mahila Sammaan Rashi har mahina.
🌻300 units free electricity
💮20,000 liters free clean water supply.
🌺Clean and Corruption-free governance.
🍁1000/month to 18+ ladies.
🌼 Free Mohalla Clinics.
🏵️Gurrentees Jobs to job aspirants along with leak-proof conduction of exams.
🌸1 crore to the family of shaheed Indian army soldiers.
Aam Aadmi Party🇮🇳❤️
Percentages, stated alone are misleading. You ought to state the numbers also. It is possible that other sectors are growing faster than manufacturing sector. In 2013-14, our GDP was small, though the percentages might seem impressive.
narrative is clear, but it is just because other sectors are also growing faster. talk how Manu sector grown in absolute terms