India’s manufacturing sector is expected to contribute approximately 3% to the global trade. India's domestic manufacturing sector is poised for significant expansion, with projections estimating it will reach $1.3 trillion by FY30, growing at a CAGR of 18%, according to a recent report on advanced manufacturing. Currently valued at $471 billion, a large portion of this projected growth is expected to come from the advanced manufacturing segment. Recent data supports this optimistic outlook. An HSBC survey published earlier this month revealed that India's manufacturing sector growth hit a 16-month high in July, with the Purchasing Managers’ Index (PMI) rising to 59.1. The surge was driven by increased new orders and output amid strong demand conditions. Additionally, an S&P Global study from May noted India’s “notable progress” in improving manufacturing competitiveness and attractiveness to global investors. Venture capital firm Accel,
The only supply chain registration you need
Unrivaled context behind every news and article for free.
Anamika Mishra,
Sub Editor
