11 Years of ‘Make in India’, From Building Capacity to Driving Innovation, Says BCG–FICCI Report
Report highlights India’s shift toward innovation, resilience, and sustainability in global value chains
New Delhi, Sep 26: Eleven years after the launch of ‘Make in India’, the country’s trade and industrial strategy has entered a new phase one that prioritizes innovation, resilience, and digital integration as much as cost efficiency, according to a new BCG–FICCI report.
Titled “Evolving Landscape of Global Value Chains,” the study underscores how Make in India has matured from building industrial capacity to driving innovation and competitiveness. It notes that structural shifts in global trade have created an opportunity for India to move from the margins to the centre of global value chains.
The government’s push for indigenization is already visible in solar, semiconductors, aerospace, EVs, and telecom, with Production-Linked Incentive (PLI) schemes attracting investments of over USD 20 billion and generating output worth USD 191 billion. Simultaneously, India’s digital leap with initiatives like the IndiaAI Mission supporting startups such as Sarvam and Krutrim—highlights the country’s ambition to lead on the tech frontier.
Trade diplomacy is also accelerating, with FTAs under discussion with the UK, EU, Oman, and EFTA nations. The report notes that the India–UK FTA alone could give exporters duty-free access to 99% of tariff lines, opening fresh corridors in markets heavily dependent on China and ASEAN.
Sustainability and compliance are becoming equally critical. Global frameworks such as the EU’s Carbon Border Adjustment Mechanism are reshaping access conditions, and India has responded with measures including the Carbon Credit Trading Scheme, National Green Hydrogen Mission, and Green Open Access Framework. Companies are embedding ESG standards and investing in circular economy models like battery recycling and specialty chemicals to align with Extended Producer Responsibility norms.
The report concludes that as Make in India enters its second decade, India is poised to emerge not just as a global manufacturing hub, but as a leader in sustainable, innovation-driven, and digitally integrated value chains.
