"Connecting communities, empowering nations: Unifying the Regional and Global Economy ."

In today’s discussion, let us focus on the developments happening in the manufacturing sector in India. The air conditioner industry serves as a prime example, where value addition has grown from 25% to 45% within just 18 months. This progress showcases the collective efforts of industry leaders and the support from both state and union governments.

It is important to note that this growth in the manufacturing sector is not solely driven by government incentives. The success in this sector requires a comprehensive strategy that focuses on building demand, creating a conducive supply ecosystem, forging technology partnerships, and supporting local clusters. This multi-dimensional approach ensures the sustainability and long-term growth of the industry.

Furthermore, for India to expand its share in global exports beyond the current 1.5% to 2%, it must strive for greater harmonization with global standards. Adhering to global benchmarks will not only boost export volumes but also facilitate the integration of traditional companies into the global market. This, in turn, will create opportunities for smaller companies to grow and bridge the gap.

Looking ahead, India’s manufacturing sector has a promising future. It is poised to take advantage of technological advancements and explore new avenues for innovation. India has already earned a reputation as a global leader in certain sectors, and with continued efforts, it can secure its position as a crucial player in the global market.

The optimism surrounding India’s manufacturing sector stems from a commitment to collaboration between industry stakeholders and government authorities. This collaboration will propel growth and create an enabling environment for businesses. As the world progresses, India aims to be at the forefront of manufacturing, contributing significantly to the country’s economic prosperity.

The ongoing developments in India’s manufacturing sector are a result of collective efforts. The focus on building demand, fostering innovation, and harmonizing with global standards will drive the sector’s growth and enable India to become a significant player in the global market. With the right support and continued dedication, India’s manufacturing sector is set to thrive in the years to come, reinforcing the belief that this is indeed India’s century.