New Delhi, Jan 24 (NationPress) India is on a mission to nearly triple its exports to $1.3 trillion by the year 2035. This ambitious goal is driven by a focus on manufacturing-led growth through structural reforms and deregulation, moving away from a dependency on substantial government expenditure, as highlighted in recent reports.

This initiative represents Prime Minister Narendra Modi’s third significant effort to establish India as a global manufacturing powerhouse and a pivotal player in international trade.

The government is prioritizing 15 key manufacturing sectors, including advanced semiconductors, metals, electronics, and labor-intensive industries like leather, according to the reports.

Officials are optimistic that by relaxing regulations, streamlining compliance, and enhancing the business landscape, Indian companies will be able to scale production, attract foreign investments, and compete more effectively on a global scale.

This renewed initiative comes at a time when India is perceived as a stable growth engine amidst global uncertainties.

With worldwide supply chains experiencing stress and rising geopolitical tensions, India is positioning itself as a dependable alternative for manufacturing.

Recent statistics indicate that the manufacturing sector is already showing positive responses to the supportive policies and reforms in place.

India’s manufacturing performance reached a record high in the third quarter of FY26, with further improvement in industry sentiment, as reported by the Federation of Indian Chambers of Commerce and Industry (FICCI).

According to FICCI’s Quarterly Survey on Manufacturing, 91 percent of companies reported either higher or stable production levels in Q3 FY26, an increase from 87 percent in the previous quarter.

Industrial confidence also rose, with 86 percent of respondents anticipating higher or similar order levels compared to the previous quarter, partly aided by recent GST rate cuts.

The survey, which encompasses manufacturing units with a collective annual turnover exceeding Rs 3 lakh crore, revealed that financial conditions remain favorable.

The average interest rate for manufacturers is currently 8.9 percent, and nearly 87 percent of firms reported sufficient access to bank financing for working capital and long-term requirements.