Ambitious Mfg Goal Lacks Infra Eco System

New Delhi: Coordinated efforts from the government, private sector, academia, R&D institutions, and financial stakeholders are crucial for India to achieve its goal of becoming a manufacturing powerhouse amid an uncertain global environment, Economic Survey 2024-2025 said on Friday.

It also said that the rise of China as a manufacturing powerhouse and its impact on the manufacturing aspirations of other nations, as well as the supply of minerals, materials, machinery, and equipment needed for energy transition, pose challenges.

Amidst this, it said, India is in the middle of a change that represents an unprecedented economic challenge and opportunity. The survey stressed that China is a dominant force in the global manufacturing and energy transition ecosystems as it has gained a strategic advantage leveraging its competitiveness.