Opinion: Make In India, Making For The World

The journey continues, but the success story from making chips to ships thus far is already substantial and measurable in hard numbers, in an ode to Modinomics.

Prime Minister Narendra Modi launched the Make in India initiative with a bold vision to transform India from a primarily services-driven and import-dependent economy into a global manufacturing hub.

The campaign sought to raise manufacturing’s contribution to GDP, attract foreign investment, create jobs, build self-reliance (Atmanirbhar Bharat), and integrate India deeper into global value chains.

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Over the subsequent 12 years, through policy reforms, the Production Linked Incentive (PLI) scheme, infrastructure push and targeted sectoral missions, India has recorded measurable strides, particularly in electronics, mobile manufacturing, semiconductors and defence aerospace. What began as an invitation to the world has evolved into a tangible success story of rising production, surging exports and growing indigenous capability.

Make in India was never limited to slogans. Complementary reforms like GST implementation, insolvency resolution, labour code rationalisation, the National Single Window System, PM GatiShakti for multimodal connectivity and industrial corridors, all combined to improve the ease of doing business. Foreign direct investment (FDI) into manufacturing rose substantially; equity inflows into the sector reached approximately $184 billion between April 2014 and March 2025, a marked increase over the previous decade.

Defence production offers one of the clearest indicators of progress. Domestic defence manufacturing touched a record Rs 1.78 lakh crore in FY 2025-26—nearly four times the Rs 43,746 crore recorded in FY 2013-14. Private sector contribution reached about 24% (around Rs 42,000 crore).

Defence exports hit an all-time high of Rs 38,424 crore in the same year, with equipment shipped to over 100 countries. Platforms such as the Tejas fighter, BrahMos missiles, Akash systems, and artillery guns are now produced at scale domestically. These gains sit alongside growth in other sectors like automobiles and components, pharmaceuticals, textiles, renewable energy equipment and toys. The overall narrative is one of expanding capacity, rising private participation and a gradual shift from import dependence........

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