Transformation of manufacturing sector essential for India to become developed nation NITI CEO

    New Delhi, May 30 (PTI) Transformation of India's manufacturing sector is essential for India to become a developed nation by 2047 and also take people out of agriculture, NITI Aayog CEO BVR Subrahmanyam said on Friday.
     Addressing an event organised by industry body CII, he said NITI Aayog is looking at restructuring the entire skilling landscape in India.
     "We need manufacturing transformation which will take people out of agriculture...manufacturing transformation is essential for India to become a developed nation," Subrahmanyam said.
     According to the Economic Survey 2023-24, the Indian agriculture sector provides livelihood to about 42.3 per cent of the population and has a share of 18.2 per cent in the country’s GDP at current prices.
     He pointed out that currently in India, 90 per cent of manufacturing activities are happening in 5-6 states.
     "China has placed itself at the heart of the global supply chains...Should not India also be a heart of global supply chains," he said.
     He claimed that the share of manufacturing in India's GDP is 17 per cent.
     Recently, Finance Minister Nirmala Sitharaman said that India plans to increase the share of the manufacturing sector from 12 per cent to 23 per cent over the next two decades.
     Noting that uncertainty in the world today has thrown up huge opportunities for India, Subrahmanyam said," We need to focus on winning sectors."
     He also said the National Manufacturing Mission will have an overarching body which will have the power to give directions, control and ensure things are done to kick manufacturing to a higher level in India.
     “We are in the final stages of that, probably in a month’s time, it will probably get announced,” Subrahmanyam said.
     Sitharaman in the Budget 2025-26 speech said a National Manufacturing Mission will be put in place to cover small, medium and large industries for furthering Make in India.
     “What we need is a body with teeth, a body which can get things done. So we are looking at how it is to be structured, how it gets that kind of a muscle that it actually gets things done spread across multiple departments,” he added.
Subrahmanyam said to become a developed nation, India must undergo a shift from rural to urban living, a clean and large-scale energy transition, and a complete overhaul of our education system to empower individuals.
He highlighted that India's highways, ports, and digital networks have opened up connectivity like never before.
    "But to translate this into manufacturing excellence, we now need targeted industrial infrastructure. This means dedicated industrial parks, sector-specific clusters, integrated logistics zones, and reliable power and water supply," the NITI Aayog CEO said.
    He stated that these are the enablers that will power manufacturing zones, enhance productivity on the ground, and make India a truly competitive and attractive destination for global investment.

(This story has not been edited by THE WEEK and is auto-generated from PTI)