Refer Report
Mumbai: The share of the manufacturing sector in the Indian economy will increase from the current 14 percent to 21 percent in FY 2034. The growth rate of this decade is higher than the growth of the last decade. DSP Mutual Fund speculated that this change will be driven by the government’s focus on reforms and policy changes, as well as improved communication and infrastructure.
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In the financial year 2025, the investment in infrastructure is 33 percent of the gross national product and it will increase to 36 percent in the year 2029. According to a Reserve Bank survey, industrial capacity utilization has already reached 75 percent. The report said that the steel sector is producing at the maximum capacity of 90 percent. With infrastructure projects picking up pace, this growth also signals an increase in demand for commodities such as cement and aluminum in the near term, along with the steel sector. It is seen that the demand for electricity is also continuously increasing. The incentives given to the manufacturing sector, increased use of electric vehicles, increased demand for air conditioners in rural areas have also led to an increase in the demand for electricity. The Centre’s Production-Linked Incentive (PLI) scheme, which currently covers 17 industry sectors, will include sectors like power, defence, water etc. in FY 2025, said Charanjit Singh, Fund Manager, DSP Mutual Fund.
Source: Marathi