The Union Commerce and Industry Minister, Piyush Goyal, stated that India has evolved from primarily manufacturing for its domestic market to producing goods for international consumers. This statement marks the twelfth anniversary of the ‘Make in India’ initiative, which was launched in 2014. Goyal indicated that the movement aims to enhance India’s manufacturing capabilities to compete on a global scale.

Reflecting on the inception of the initiative, Goyal noted that there were significant discussions regarding India’s manufacturing potential at that time. He pointed out that many essential products were then imported. The intent behind Prime Minister Narendra Modi’s vision was to enable Indian-made products to be recognised globally, emphasising their quality through the ‘Made in India’ label.

Goyal highlighted the broader impact of the initiative, stating that it has instilled confidence among various stakeholders, including entrepreneurs, startups, and manufacturers. He emphasised that the initiative has conveyed a powerful message that “India can manufacture, innovate, and compete worldwide.”

Record Foreign Direct Investment

During the announcement, Goyal revealed that India achieved its highest-ever annual foreign direct investment (FDI) inflow, amounting to USD 94.53 billion for the financial year 2025-26. Since the initiative’s launch, India’s cumulative FDI inflows have reached USD 843 billion, underlining the growing global interest in Indian manufacturing.

He attributed significant progress to the Production Linked Incentive (PLI) schemes, which have expanded manufacturing capacity across various key sectors. As of March 31, 2026, actual investments realised through these schemes totalled Rs 2.40 lakh crore, contributing Rs 23.8 lakh crore in production and sales, and generating Rs 15.2 lakh crore in exports. Furthermore, these initiatives have created over 14.6 lakh direct and indirect employment opportunities.

Goyal also mentioned the establishment of greenfield industrial smart cities under the National Industrial Corridor Development Programme, which aims to enhance infrastructure for industry. He noted that reforms aimed at improving the Ease of Doing Business have simplified regulations and reduced compliance burdens, fostering a more inviting investment climate.

Future Aspirations of Make in India

Looking ahead, Goyal indicated that the next phase of the initiative encompasses a broader global ambition, intending to position India as a leading manufacturing hub on the world stage. He suggested that the past twelve years serve not only as a milestone but also as a testament to what can be achieved when a nation believes in its potential, supported by consistent reforms and proactive government action.

In his remarks, he outlined an emphasis on further enhancing India’s manufacturing capabilities to strengthen the country’s role in global production and supply chains. Additionally, Goyal pointed to the development of the Open Network for Digital Commerce (ONDC), which he claimed is beneficial to small enterprises, stating that over 470 crore orders have already been placed through the platform.

In conclusion, Goyal articulated a vision for the future of Indian manufacturing, underscoring the importance of innovation and competition on the international front. His statements reflect the government’s commitment to fostering an environment conducive to scaling manufacturing efforts in India.

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