Commerce and Industry Minister Piyush Goyal on Friday, 25 September 2026, marked the 12th anniversary of the 'Make in India' initiative, declaring that India has moved decisively from being a manufacturing importer to a global production hub. Addressing the occasion, Goyal asserted that the country is now 'manufacturing for the world' — not merely for domestic consumption.

Key Milestones and the Numbers Story

Goyal pointed to a series of landmark figures to underscore the initiative's progress. India recorded its highest-ever annual foreign direct investment (FDI) inflow of USD 94.53 billion in FY 2025-26, while cumulative FDI inflows from FY 2014-15 to FY 2025-26 reached USD 843 billion, according to the minister.

The Production-Linked Incentive (PLI) schemes have delivered substantial outcomes. As of 31 March 2026, PLI schemes have attracted ₹2.40 lakh crore in actual investment, generated ₹23.8 lakh crore in production and sales, driven ₹15.2 lakh crore in exports, and supported over 14.6 lakh direct and indirect jobs.

Sectors Driving the Manufacturing Push

Goyal highlighted that electronics and telecom, pharmaceuticals, medical devices, automobiles, IT hardware, and speciality steel have been among the most significant beneficiaries of the PLI framework. He added that the Open Network for Digital Commerce (ONDC) is providing a major boost to small enterprises, with over 470 crore orders placed through the platform to date.

Greenfield industrial smart cities are also being developed nationwide under the National Industrial Corridor Development Programme, aimed at building infrastructure for globally competitive manufacturing. Ease of Doing Business reforms have simultaneously streamlined regulations and reduced the compliance burden for industry, the minister noted.

The Confidence Dividend

'This is not just a milestone. It reminds us of what can happen when a nation believes in its own capabilities and the government powers that belief with sustained reforms and action,' Goyal said. He credited Prime Minister Narendra Modi with refusing to accept import-dependence as India's destiny, recalling the debates around India's manufacturing potential back in 2014.

In a post on X, Goyal quoted Modi's vision of a world where products carry the tag 'Made in India' and are 'known for their quality'. 'We are witnessing that vision taking shape. The numbers tell an encouraging story,' he wrote.

The Road Ahead: Viksit Bharat 2047

Goyal framed the next phase of 'Make in India' around an 'even bigger ambition' — positioning India as a global manufacturing powerhouse, which he linked directly to the government's Viksit Bharat by 2047 vision. The initiative's trajectory, he argued, is not just about economics: 'It is the confidence it has created among our startup founders, entrepreneurs, manufacturers, innovators, exporters and, most importantly, our people that India can make, India can innovate, and India can compete with the world.' With PLI disbursements continuing and industrial corridors under construction, the policy apparatus behind the initiative remains firmly in motion.