# Make in India at 12: patchy gains, low manufacturing share

2026-09-25T06:17:53+00:00 | Business & Economy | Indian Opinion Desk

Corroboration: 3 independent outlets

Twelve years after the launch of Make in India on September 25, 2014, the manufacturing sector's share in economic output, employment, and global exports has remained largely unchanged, The Hindu reports. While Production Linked Incentive (PLI) schemes have drawn Rs 2.40 lakh crore in investment and created over 14 lakh jobs, gains are concentrated in electronics, automobiles, pharmaceuticals, steel, and defence. Electronics production rose from Rs 1.9 lakh crore to Rs 13.11 lakh crore, and mobile-phone output surged 33 times. Vajiram & Ravi notes that manufacturing GVA grew at a 10.88% CAGR between 2022-23 and 2025-26, but its share of GVA inched up only from 14.6% to 15.6%. India's share of global merchandise exports stayed at about 1.7%. The Economic Times quotes PM Modi hailing a "transformation visible across sectors" and Commerce Minister Piyush Goyal citing confidence among entrepreneurs. Separately, the same outlet reports Congress leader Jairam Ramesh calling the initiative "significantly belied", saying private investment and broad-based jobs have not materialised.

## Indian Opinion Analysis

The government's framing, led by PM Modi's social media post and ministerial quotes, emphasises headline production gains in electronics and PLI-linked investment. The critical framing, from The Hindu and Congress, foregrounds the static shares of manufacturing in GDP, employment, and global exports. Vajiram & Ravi provides the most balanced data, confirming both the sectoral successes and the aggregate stagnation. The key divergence is whether you measure absolute output or relative share. The next test is whether the upcoming Semicon 2.0 and BHAVYA industrial-park schemes can shift the aggregate indicators by 2028.

## Coverage

- thehindu.com (government critical) <https://www.thehindu.com/business/Economy/12-years-of-make-in-india-in-12-metrics-low-and-patchy-impact-on-growth-employment-global-share/article71505448.ece>
  Leads with low and patchy impact, emphasises unchanged shares in growth, employment, exports
- vajiramandravi.com (neutral report) <https://vajiramandravi.com/current-affairs/make-in-india-at-12/>
  Balances sectoral gains with persistent challenges, presents data on both sides
- economictimes.indiatimes.com (government critical) <https://economictimes.indiatimes.com/news/india/transformation-visible-across-sectors-pm-modi-marks-12-years-of-make-in-india-amid-manufacturing-investment-push/articleshow/134477462.cms>
  Leads with Congress criticism, highlights missing private investment and job growth
- economictimes.indiatimes.com (government critical) <https://economictimes.indiatimes.com/news/politics-and-nation/make-in-india-belied-expectations-pvt-investment-boom-didnt-happen-job-growth-missing-congress/articleshow/134477400.cms>
  Leads with Congress criticism, highlights missing private investment and job growth

Tags: defence, Electronics, Make in India, PLI scheme, semiconductors, steel
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