India's new government faces a significant challenge in boosting the manufacturing sector, which currently contributes less than 15% to the country's GDP, as reported by the World Bank. The growth of factories is crucial for India's aspirations to emerge as a global economic powerhouse.
During its previous term, the Modi administration made strides in this direction by leveraging the ongoing shift in supply chain strategies among companies. Many international firms are seeking to diversify their operations away from China due to pandemic-related disruptions and escalating tensions between Beijing and Washington.
