Electronics to defence, ‘Make in India’ makes country a global hub for manufacturing

New Delhi, Sep 25

Electronics production in India has increased nearly sevenfold, from Rs 1.9 lakh crore in 2014-15 to Rs 13.11 lakh crore in 2025-26, while the value of indigenous defence production increased from Rs 46,429 crore in 2014-15 to a record Rs 1.78 lakh crore in FY 2025-26, an official statement said on Thursday.

Twelve years ago, on September 25, 2014, ‘Make in India’ was launched with the ambition of becoming a global hub for manufacturing, design and innovation.

Today, the initiative focuses on 27 sectors, which include 15 in manufacturing and 12 in services.

Within electronics production, mobile-phone production rose approximately 33-fold, from Rs 18,000 crore to Rs 6.27 lakh crore over the same period. India is the world’s second-largest mobile phone manufacturer by volume.

According to the factsheet, vehicle production reached 31.03 million units in 2024-25, 33 per cent higher than in 2014-15. Several vehicle segments also recorded significantly higher production in 2024-25 compared with 2020-21.

Meanwhile, the pharmaceutical industry today ranks third globally by volume and 11th by value. Annual turnover reached Rs 4,71,898 crore in 2024-25, with a 9.5 per cent CAGR since 2020-21. Domestic manufacturing of medical devices rose by 48.2 per cent, from Rs 28,000 crore in 2019-20 to Rs 41,500 crore in 2024-25.

Moreover, crude steel production increased from 81.7 million tonnes in 2014-15 to 170.0 million tonnes in 2025-26.

Indian Railways manufactured 54,809 coaches over 2014-24. Average annual railway coach production rose from less than 3,300 during 2004-14 to 5,481 during 2014-24. In 2025-26, Indian Railways produced 1,674 locomotives.

According to the factsheet, manufacturing Gross Value Added (GVA) at constant prices recorded a compound annual growth rate of 10.88 per cent between 2022-23 and 2025-26 under the revised national accounts series.

The manufacturing component of the Index of Industrial Production (IIP) increased by 7.0 per cent during April-July 2026 compared with the corresponding period of 2025, said the factsheet.

Notably, production across heavy engineering equipment and various capital goods sub-sectors increased from Rs 2,87,233 crore in 2019-20 to Rs 5,69,900 crore in 2024-25 -- nearly a twofold increase over the period.