Make in India Boosts Manufacturing: Electronics, Defence Production Surge Over Decade

Electronics production in India has increased nearly sevenfold, from Rs 1.9 lakh crore in 2014-15 to Rs 13.11 lakh crore in 2025-26, while the value of indigenous defence production increased from Rs 46,429 crore in 2014-15 to a record Rs 1.78 lakh crore in FY 2025-26, an official statement said on Thursday. Twelve years ago, on September 25, 2014, ‘Make in India’ was launched with the ambition of becoming a global hub for manufacturing, design and innovation.

Today, the initiative focuses on 27 sectors, which include 15 in manufacturing and 12 in services. Within electronics production, mobile-phone production rose approximately 33-fold, from Rs 18,000 crore to Rs 6.27 lakh crore over the same period. India is the world’s second-largest mobile phone manufacturer by volume. According to the factsheet, vehicle production reached 31.03 million units in 2024-25, 33 per cent higher than in 2014-15. Several vehicle segments also recorded significantly higher production in 2024-25 compared with 2020-21.

Meanwhile, the pharmaceutical industry today ranks third globally by volume and 11th by value. Annual turnover reached Rs 4,71,898 crore in 2024-25, with a 9.5 per cent CAGR since 2020-21. Domestic manufacturing of medical devices rose by 48.2 per cent, from Rs 28,000 crore in 2019-20 to Rs 41,500 crore in 2024-25. Moreover, crude steel production increased from 81.7 million tonnes in 2014-15 to 170.0 million tonnes in 2025-26. Indian Railways manufactured 54,809 coaches over 2014-24. Average annual railway coach production rose from less than 3,300 during 2004-14 to 5,481 during 2014-24.

In 2025-26, Indian Railways produced 1,674 locomotives. According to the factsheet, manufacturing Gross Value Added (GVA) at constant prices recorded a compound annual growth rate of 10.88 per cent between 2022-23 and 2025-26 under the revised national accounts series. Industrial output provides another indication of recent growth. The manufacturing component of the Index of Industrial Production (IIP) increased by 7.0 per cent during April-July 2026 compared with the corresponding period of 2025, said the factsheet. Notably, production across heavy engineering equipment and various capital goods sub-sectors increased from Rs 2,87,233 crore in 2019-20 to Rs 5,69,900 crore in 2024-25 -- nearly a twofold increase over the period.

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