Paper Contents
Abstract
This paper examines the transformative journey of India’s commerce, trade, and industrial landscape, focusing on the Make in India initiative as the foundational policy reagent that reshaped manufacturing growth and international economic engagement. Launched in 2014, Make in India aims to position India as a global manufacturing and investment hub, catalyzing structural reforms, trade facilitation, and productive capacity enhancements (Invest India, 2025). Through a synthesis of quantitative government data, academic research, and recent policy developments, this paper captures the initiative’s impact, including manufacturing expansion, export growth, and foreign direct investment (FDI) inflows. The literature review highlights empirical analyses of manufacturing competitiveness, national logistics reforms, and macroeconomic projections that underline India’s rapid economic evolution toward advanced industrialization (Indian Industrial Development Report, 2024-25). Strategic schemes such as Production Linked Incentives (PLI), enhanced logistics infrastructure, and regulatory simplification have contributed to export diversification and improved participation in global value chains (Invest India, 2025; ISID, 2025). Furthermore, recent government actions, such as the semiconductor mission expansion and biopharma mega-projects, reflect concerted efforts to build high-technology industrial segments supportive of the 2047 vision of a developed India. Emerging evidence suggests India could become one of the world’s largest economies, with projections indicating significant GDP growth and structural transformation by mid-century (Ray, 2022; Punjab Kesari, 2024). The paper argues that sustained reforms across policy, fiscal, infrastructure, human capital, and multilateral trade partnerships are indispensable for India’s transition into a global economic powerhouse by 2047. Implications for future research include sector-level competitiveness assessments and cross-national comparisons of economic strategies for emerging economies.
Copyright
Copyright © 2026 Sangeeta Singh. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
