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NITI Aayog has identified chemicals, textiles, solar photovoltaic manufacturing, and telecom and networking equipment as four priority sectors that could help India increase its manufacturing footprint and become a stronger global manufacturing hub. The report also highlights import dependence and low domestic value addition as major challenges.
The recommendations come at a time when manufacturing contributes 17.5% of India’s GDP, but its share of gross value added has stayed between 16% and 18% for around two decades. India is currently the world’s fifth-largest manufacturer, yet accounts for only about 3% of global manufacturing output.
In the telecom equipment industry, NITI Aayog wants India to move beyond simply making more products domestically. The focus is on increasing the amount of value created within India and improving access to global supply chains.
Solar PV manufacturing has also been highlighted because India remains dependent on China for machinery and equipment. The domestic solar market is expected to grow at 17-20% annually between FY23 and FY30, creating an opportunity for local manufacturers to expand.
The chemicals industry faces challenges related to imported raw materials and limited specialised infrastructure. NITI Aayog has recommended stronger domestic production, better ports and improved industrial clusters.
Textiles, meanwhile, remain an important source of jobs and exports. The sector contributes around 2% to GDP and 11% of manufacturing GVA, but faces challenges related to productivity, fragmented production and the scale of manufacturing businesses.
The four sectors are part of a larger exercise in which NITI Aayog assessed 62 sectors and shortlisted 12 based on factors such as strategic importance, investment potential and opportunities within global supply chains. Eight more sectors will be covered in subsequent reports.
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