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One of the major vehicles that drive the economy of any nation is the manufacturing industry. Countries that are considered to be industrialized, advanced and economically buoyant are countries with vibrant and active manufacturing sector. No doubt the manufacturing industry is indeed an industry that is wide and all – encompassing – simply because manufacturing is all about producing goods, equipment, chemicals, machines, et al.
Why Start your Own Manufacturing Business in India?
Indian manufacturing sector is one of the emerging sectors. It is expected that India will become the fifth largest manufacturing country in the world by FY2020.
Indian Manufacturing Sector Facts:-
•In between FY12 and FY17, India’s manufacturing sector grew at CAGR of 7.32 per cent.
•Under the Make in India initiative, the Government of India plans to raise GDP from 16 per cent to 25 per cent by 2022, and create 100 million new jobs by 2022.
•The Wholesale Price Index (WPI) for manufactured goods rose 2.4 per cent in FY16-17.
•Foreign Direct Investment (FDI) grew by 82 per cent to $16.13 billion between April-November 2016.
•As per Union Budget 2017-18, Government of India reduced income tax rate to 25 per cent for medium and small size enterprises having turnover up to Rs 50 crore.
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Entrepreneur India, an Industrial monthly magazine on industrial development, technologies & project opportunities aims at simplifying the process of choosing the suitable project for investment.
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