10 Years of Make in India: From ₹1.46 Lakh Crore Investments to ₹4 Lakh Crore Exports, GOI's Initiative Drives Unprecedented Growth

Since its launch in 2014, the Make in India initiative has reshaped India’s economic landscape. Over the past ten years, the program has made remarkable strides in manufacturing, exports, foreign investments, and job creation. In 2024, the initiative continues to drive innovation and economic growth with unprecedented achievements, including investments of ₹1.46 lakh crore, exports worth ₹4 lakh crore, and the creation of 9.5 lakh jobs. Let’s explore the key milestones that define the success of this ambitious mission.
Revolutionising Manufacturing and Exports
The Make in India program has positioned India as a significant global manufacturing hub. Between April 2014 and March 2024, the initiative attracted ₹667.41 billion in Foreign Direct Investment (FDI), accounting for 67% of all FDI received in the last 24 years. This influx of investments has propelled key sectors such as electronics, pharmaceuticals, and food processing, leading to exports exceeding ₹4 lakh crore.
Mobile phone production surged from 5.8 crore units in 2014-15 to 33 crore units in 2023-24. Exports of mobile phones alone reached 5 crore units, underscoring India’s growing influence in electronics manufacturing. The Production Linked Incentive (PLI) scheme further boosted the pharmaceutical industry, making India the third-largest global player by volume, with 50% of production geared toward exports.
Advancements in Technology and Infrastructure
The technological and infrastructure growth under Make in India has been extraordinary. In FY25, India achieved $10 billion in iPhone production, with $7 billion in exports, creating 1,75,000 new jobs in the Apple ecosystem. Importantly, 72% of these roles are held by women, showcasing the initiative’s inclusive approach.
The PM GatiShakti initiative has transformed infrastructure development, with 208 major projects worth $180 billion being assessed and 156 critical connectivity gaps addressed. These improvements have bolstered last-mile connectivity in crucial sectors such as coal, steel, fertilizer, and food distribution. Additionally, India’s telecom industry achieved 60% import substitution, establishing the nation as a global exporter of 4G and 5G equipment.
Strengthening Defence and Textile Industries
The defence sector has seen unprecedented growth, with production reaching ₹1.27 lakh crore in 2023-24 and exports increasing 30 times over the last decade. India now exports defence equipment to over 90 countries. A milestone achievement was the inauguration of India’s first private military aircraft facility in Vadodara, marking a significant leap in aerospace manufacturing and self-reliance.
In the textile sector, investments worth ₹28,000 crore are expected to generate ₹2 lakh crore in turnover and create 2.5 lakh jobs. India, the world’s second-largest producer of textiles, has seen consistent growth in exports, solidifying its position as a global leader. These efforts reflect the comprehensive approach of Make in India in revitalizing traditional industries while fostering innovation.
The Make in India initiative has proven to be a transformative force in India’s economic journey. By driving advancements across manufacturing, technology, infrastructure, and defence, it has cemented India’s position as a global leader. As 2024 progresses, Make in India 2.0 continues to build on its strong foundation, fueling innovation, investments, and employment opportunities for a thriving future.