What Happened
Manufacturing Surge Drives Self-Reliance Amid Global Pressures
India’s manufacturing efforts are showing promise, with a decline in import dependency across several critical sectors, including electricals and chemicals. According to a Bank of Baroda report, domestic manufacturing policies like Make in India and the India Semiconductor Mission 2.0 are driving improvements, despite ongoing global supply chain disruptions. The report analyzed 1,372 non-financial companies and noted a significant drop in the import-to-net-sales ratio, which stood at 22.3% in FY25, down from 22.9% in FY19. This development was first reported by Devdiscourse.