10 Years of Make in India – A Transformational Journey
On September 25, 2014, Prime Minister Narendra Modi launched the Make in India initiative, envisioning India as a global manufacturing hub.
This bold vision aimed to drive industrial growth, boost exports, and generate employment, positioning India as a leader in innovation and entrepreneurship.
As Modi said on X (formerly Twitter), “Make in India illustrates the collective resolve of 140 crore Indians to make our nation a powerhouse of manufacturing and innovation.”
Today, the results are undeniable. As India celebrates 10 years of Make in India, the government highlights remarkable achievements: one startup launched every hour and 15 lakh jobs created, reflecting a decade of growth, innovation and job creation that has transformed India’s economic landscape.
This article delves into the transformative impact of Make in India, focusing on startup growth, MSMEs, job creation, government policies, and key success stories, providing an in-depth look at the initiative’s successes and future.
The Rise of Startups: 1.48 Lakh Registered Startups in 10 Years
One of the most significant successes of Make in India is its role in fostering innovation and entrepreneurship across the country. In 2014, India had approximately 350 startups, by 2024, over 1.48 lakh startups have registered under Startup India, an initiative closely aligned with Make in India.
The startup ecosystem has flourished, creating opportunities in sectors like fintech, e-commerce, agritech, and electric vehicles (EVs).
Notably, 45% of startups emerged from Tier II and Tier III cities, marking a shift in entrepreneurial growth beyond metropolitan hubs.
Startups like Ola Electric and Ather Energy, rooted in the EV sector, are prime examples of how Make in India has fueled both technological advancement and environmental sustainability.
The government’s focus on fostering entrepreneurship through ease of doing business reforms, regulatory support and incentives for innovation has laid the groundwork for exponential growth in startups across sectors.
Job Creation and MSME Growth: Fueling India’s Economic Engine
15 lakh jobs have been created directly under Make in India, a testament to the initiative’s role in shaping India’s workforce.
Central to this success is the growth of MSMEs (Micro, Small, and Medium Enterprises), which have been the backbone of India’s industrial and economic development.
The Udyam portal reports over 4.91 crore registered MSMEs, with 1.85 crore women-owned enterprises.
These MSMEs contributed to 30.1% of India’s GDP in the 2022-23 period, playing a crucial role in economic growth and development.
Additionally, MSMEs have generated 21.17 crore jobs, further proving their significance as engines of employment.
Government schemes such as the MSME Development Act, the Prime Minister’s Employment Generation Programme (PMEGP) and the Atmanirbhar Bharat Abhiyan have provided MSMEs with funding, infrastructure, and market access, allowing these enterprises to flourish.
Government Policies Boosting Manufacturing and Exports
The Production Linked Incentive (PLI) Scheme has been one of the standout policies of the Make in India initiative.
Launched in 2020, the PLI scheme has attracted ₹1.28 lakh crore in investments across sectors like electronics, automobiles, pharmaceuticals, and textiles.
As of 2024, the scheme has generated 8.5 lakh jobs and contributed to a ₹4 lakh crore boost in exports, showcasing its impact on India’s global trade position.
For instance, the electronics sector saw a surge in mobile phone manufacturing, with companies like Apple and Samsung ramping up production in India.
The automobile sector also witnessed growth, especially in electric vehicles, where companies like Tata Motors and Mahindra Electric have significantly expanded their production capabilities, boosting domestic manufacturing.
The toy industry is another shining example, with a 239% increase in toy exports after the implementation of the National Action Plan for Toys (NAPT) in 2020.
Government interventions to support local industries and promote exports have further bolstered India’s manufacturing strength on a global scale.
Khadi and Local Industries: Reviving Traditional Indian Crafts
A success story often overlooked is the resurgence of Khadi and Village Industries under Make in India.
With a renewed focus on promoting traditional Indian crafts, Khadi sales hit an all-time high of ₹1.55 lakh crore in 2023-24, revitalizing rural economies and creating thousands of jobs in remote regions.
The Khadi and Village Industries Commission (KVIC) has played a pivotal role in this resurgence, offering financial support, technological upgrades and access to markets for small-scale artisans and weavers.
The ripple effect of these initiatives is evident in rural job creation and the preservation of India’s rich cultural heritage.
Success Stories of Startups Thriving Under Make in India
Numerous startups owe their success to the Make in India initiative. Zetwerk, a manufacturing unicorn that connects businesses with manufacturers for custom products, exemplifies how startups are leveraging India’s growing industrial base to scale their operations.
Ola Electric, another success story, has rapidly expanded its EV manufacturing, driving innovation in the clean energy space.
Similarly, startups in the pharmaceutical and biotech sectors have flourished, benefiting from incentives and investments driven by Make in India.
Startups in Tier II and Tier III cities like AgroStar (agritech) and DeHaat (farm management) demonstrate how Make in India has extended opportunities beyond urban centers, driving inclusive growth.
Make in India’s Impact on Global Competitiveness
Over the past decade, India’s global standing as a manufacturing hub has improved significantly. The World Bank ranked India at 63rd in its Ease of Doing Business Index in 2024, a considerable leap from its position in 2014, driven by reforms introduced under the Make in India initiative.
Foreign Direct Investment (FDI) has also surged, with India becoming a preferred destination for sectors like electronics, renewable energy, and automobiles.
Partnerships with companies like Foxconn, Tesla and Samsung have brought cutting-edge technology and manufacturing expertise to India, enhancing its global competitiveness.
Challenges and the Road Ahead for Make in India
Despite the success of Make in India, challenges remain. Infrastructure development continues to lag in some areas, while bureaucratic red tape and access to capital for small businesses remain concerns for entrepreneurs.
However, new initiatives such as the National Infrastructure Pipeline (NIP) and the Gati Shakti Master Plan aim to address these issues by improving connectivity, logistics and industrial infrastructure.
Moreover, the China-plus-one strategy, driven by global geopolitical shifts, presents an opportunity for India to emerge as a key player in global supply chains.
The road ahead will require continued government support, public-private partnerships, and policies that adapt to a rapidly changing global landscape.
Conclusion: A Decade of Transformation and Growth
The Make in India initiative has undoubtedly transformed India’s economic landscape over the past decade.
By fostering startup growth, creating jobs, and boosting manufacturing, it has solidified India’s position as a global player in the manufacturing and innovation sectors.
As Prime Minister Modi envisions, the journey of Make in India is far from over.
The foundation has been laid, and the next decade promises even greater strides toward economic self-reliance and industrial leadership on the global stage.
Now, more than ever, startups and MSMEs must seize the opportunities Make in India offers to shape the future of Indian innovation and entrepreneurship.
Disclaimer
The opinions expressed in this article are those of the author alone and do not necessarily reflect the views of Entrepreneur Villa, its creators or staff. Entrepreneur Villa is not responsible for the accuracy or reliability of any information presented in this content.
Frequently Asked Questions:
The Make in India initiative was launched in 2014 to turn India into a global manufacturing hub. Over 10 years, it has launched 1.48 lakh startups, created 15 lakh jobs, and fueled MSME growth.
Since its inception, Make in India has supported the launch of over 1.48 lakh startups, contributing to India’s rapidly growing entrepreneurial ecosystem.
Make in India has created 15 lakh jobs over the past 10 years, with significant contributions from the MSME sector and the Production Linked Incentive (PLI) scheme.
Key achievements include 1.48 lakh startups, 15 lakh jobs created, MSMEs contributing 30.1% to GDP, and the PLI scheme attracting ₹1.28 lakh crore investments.
Under Make in India, MSMEs have grown significantly, contributing to 30.1% of India’s GDP and generating 21.17 crore jobs, boosting the economic engine of the country.
The Production Linked Incentive (PLI) scheme has attracted ₹1.28 lakh crore investments and created 8.5 lakh jobs, boosting sectors like electronics, automobiles, and pharmaceuticals.
Make in India has improved India’s position as a global manufacturing destination, increasing exports by ₹4 lakh crore and fostering foreign investments in key sectors.
Sectors such as electronics, automobiles, pharmaceuticals, and the toy industry have seen significant growth, with exports rising and new jobs being created across these industries.
Make in India has empowered women, with 1.85 crore women-owned enterprises registered under the initiative, benefiting from government schemes and MSME growth.
Challenges include improving infrastructure, overcoming bureaucratic hurdles, and ensuring access to capital for startups and MSMEs to continue growing India’s manufacturing sector.