India's 'Make in India' initiative garners appreciation from a Saudi daily

On Monday, India's industrial sector, as well as the 'Make In India' initiative, garnered appreciation from the Saudi Gazette, an English daily of Saudi Arabia. The 'Make in India' initiative has been important for the country's economic growth as it promotes manufacturing in India. It has not only contribute to India's GDP growth but also helped the country to achieve its aim of becoming a self-reliant economy.

The Saudi Gazette reported that India's industrial sector contributed to the country's growth even after it was hit by COVID-19 and resulted in negative growth. The Index of Industrial Production (IIP) in India increased to 131.4 points in July 2021 as compared to 117.9 points last year, according to the National Statistical Office (NSO) data. 

It is pertinent to mention that the scope of the industry and manufacturing was highlighted during the yearly meeting of the Confederation of Indian Industry (CII) that took place last month. In the meeting, the efforts of the union government in promoting industries through reforms were also discussed.

According to data provided during the monsoon session in Lok Sabha, India's defence exports have jumped more than four times in the last seven years and reached more than Rs 38,500 crore. The data further suggested that India's defence export has increased to more than Rs 8,434 crore in 2020-21 which stood at Rs 1,940 crore in 2014-15. In an attempt to boost employment and exports, India has launched Production-Linked Incentive schemes along with the 'Make in India' initiative, reported Saudi Gazette.

Saudi Gazette lauds India for touching milestones in COVID-19 vaccination

Despite the pandemic, India has worked hard to achieve self-reliance and has experienced steady growth in the industrial sector. The country touched milestones in vaccination during the pandemic. It should be mentioned here that 'Make In India' is an initiative launched by the Government of India in 2014. This particular initiative was launched in an attempt to motivate companies to manufacture in India and incentivise dedicated investments into manufacturing. The initiative intends to transform India into a global manufacturing hub targetting as many as 25 economic sectors for skill enhancement and job creation. 

(With agency inputs)

Image: PTI/Representative Image