On Monday, India’s industrial sector, as well as the ‘Make In India’ initiative, garnered appreciation from the Saudi Gazette, an English daily of Saudi Arabia. The ‘Make in India’ initiative has been important for the country’s economic growth as it promotes manufacturing in India. It has not only contribute to India’s GDP growth but also helped the country to achieve its aim of becoming a self-reliant economy.
The Saudi Gazette reported that India’s industrial sector contributed to the country’s growth even after it was hit by COVID-19 and resulted in negative growth. The Index of Industrial Production (IIP) in India increased to 131.4 points in July 2021 as compared to 117.9 points last year, according to the National Statistical Office (NSO) data.
It is pertinent to mention that the scope of the industry and manufacturing was highlighted during the yearly meeting of the Confederation of Indian Industry (CII) that took place last month. In the meeting, the efforts of the union government in promoting industries through reforms were also discussed.
According to data provided during the monsoon session in Lok Sabha, India’s defence exports have jumped more than four times in the last seven years and reached more than Rs 38,500 crore.