India’s export-led growth model

Описание: After gaining independence, the country faced challenges in manufacturing for about 40-50 years. The turning point came with PM Narendra Modi Ji’s “Make in India” initiative. Now, we are gearing up for 1 trillion dollars in exports and manufacturing is the foundation behind it.

• Currently, our exports have reached 762 billion dollars, showcasing the success of “Make in India”, design and innovation programs. Traditionally, service exports were higher but now, the export of goods is taking the lead.
o Goods Export - 453 billion dollars
o Services Export - 309 billion dollars

• Formal employment, which used to be around 6 lakh per month, has now increased to an average of 14-15 lakh per month.

• The export of mobile phones was 11 billion dollars last year (about Rs. 90,000 crores). This year, the manufacturing of mobile phones is expected to be close to 50 billion dollars (about Rs. 4,00,000 crores). The export will be more than 15 billion dollars (Rs. 1,25,000 crores).

• Export data for 2022-23:
o Petroleum - 97 billion dollars
o Pharmaceuticals - 19 billion dollars
o Telecom equipment - 12 billion dollars
o Electrical machinery - 11 billion dollars
o Aluminium - 8 billion dollar
o Motor Vehicles - 8.7 billion dollars
o Electronic components - 4 billion dollars
o Iron and steel - 13 billion dollars

This is Modi Ji's vision, his thinking, and his thrust. It is a clear example of his approach.

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