Make In India @12: The Numbers Behind The Manufacturing Push

India's manufacturing push under Make in India is not merely about import substitution. The 165-fold jump in mobile phone exports to Rs 2.59 lakh crore by 2025-26, combined with over 99% domestic usage, shows a clear export-oriented shift. This is a substantive change from 2014, when India was a net importer of mobile phones. The Production Linked Incentive (PLI) scheme, with its Rs 1.97 lakh crore outlay, directly links incentives to output, driving this export growth.

This shift positions India as a stronger competitor in global electronics supply chains, particularly against established players in Southeast Asia like Vietnam and Thailand. Major global brands like Apple and Samsung are scaling production and exports from Indian facilities. This means increased competition for other Asian manufacturing hubs, especially in high-volume electronics. The focus on performance-linked rewards through PLI schemes makes India's offering more attractive for capital-intensive projects.

The crucial test for India will be sustaining this momentum beyond mobile phones. While defence and electronics show strong gains, other sectors mentioned, such as automobiles and pharmaceuticals, need to demonstrate similar export-driven growth. Watch whether the PLI scheme's catalytic effect extends to deepening local component manufacturing beyond final assembly. This will determine if India truly becomes a diversified manufacturing powerhouse or remains largely an assembly hub.