• Sat. Mar 2nd, 2024

UNION MINISTER OF RAILWAY’S BRIEFING ON INDIA’S MANUFACTURING GROWTH

Railway Minister Ashwini Vaishnaw, explained how the development of manufacturing sector in India has changed the export basket of India. The pioneering Make in India concept of Prime Minister has made it possible to transform India from exporter of primary goods to exporter of finished products including mobile phones and high precision instruments.

This is the mark of economic development of a country wherein it clearly indicates India’s transformation from marginal economy to a developed one.

1. There is a major inflection point which has happened in the country’s economy, it is important to share with all.

2. After independence, manufacturing in the country was consistently either down or in trouble for the last 40-50 years.

3. We have now reached such a situation when we are ready for 1 trillion dollar exports very soon and the foundation behind this is manufacturing.

4.Today our exports have reached 762 billion-dollar.

1.453 billion-dollar-export of goods
2. 309 billion-dollar – export of services

1.There is at least 2 times informal employment as to the formal employment in the country.

1. The formal employment which earlier used to be around 6 lakhs per month (around 70 lakh per year), has today come up to an average of 14-15 lakh per month (around 1 crore 80 lakh per year).

1. If we talk about conditions of 10-12-15 years back, the maximum export would have been of petroleum, later the name would have come of rice. In this way four or five names would come up.

2. Export of mobile phones in the previous year was 11 billion dollars (about Rs.90,000 crores). Where as this year the manufacturing of mobile phones is going to be around 50 billion dollars (about Rs.4,00,000 crores). Exports will exceed 15 billion dollars (Rs.1,25,000 crores).

1. Previously toys were imported only. Today exports of toys have reached Rs.4,000 crores.

2. If we study the export data of 2022-23, we will find the following.
1. Petroleum – 97 billion dollars
2. Pharmaceuticals – 19 billion dollars
3. Telecom equipment – 12 billion dollars
4. Electrical machinery – 11 billion dollars
5. Aluminium – 8 billion dollar
6. Motor Vehicles – 8.7 billion dollars
7. Electronic components – 4 billion dollars
8. Iron and steel – 13 billion dollars 1
TDK which is Japan’s very good company, has declared that it will manufacture mobile phone batteries in India. The casing used for mobile phones is being manufactured today is by the Tata and its manufacturing is very precise.

Responding to a question of Kausik Mitra, representing media freinds of Bengal
Ashwini Vaishnaw Hon’ble Union Minister of Railways, Communications and Electronics & Information Technology has informed that in mobile manufacturing, India is among the top two countries in the world. Mobile phones manufactured in India are getting exported to more than 25 countries in the world including European countries. Apple phones manufactured in India has also been exported in different countries. India is among the top three countries in the world in the field of mobile export, he added.

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