The world's fifth largest economy is on its way to becoming a top manufacturing hub

- India is becoming the third largest consumer market. India's purchasing power is estimated to reach 6 trillion dollars by 2030. India is planting dreams to be in the list of developed countries

- Economic strength can come from productive capacity. India also wants to become a developed country, from being the fifth largest economy to the third largest economy: all these dreams are intertwined.

- China came to the top in 2007 to produce the most in the world. It beat America to the top spot. It was not until the 1980s that China began to innovate in the manufacturing sector

India has to scale new heights of economic prosperity. While the dream of a five trillion dollar economy is yet to be realized, India has become the fifth largest economy in the world. India is becoming the third largest consumer market. India's purchasing power is estimated to reach 6 trillion dollars by 2030.

India is planting dreams to be in the list of developed countries. The Modi government's plans are long-term but could change India's business landscape. The idea of ​​making India the hub of the manufacturing sector has started to be firmly established and it has also been announced by standing on the global stage.

Economic strength can come from production capacity. India also has to become a developed country, moving from the fifth largest economy to the third largest economy and making the country a manufacturing hub. All these dreams are intertwined. It is the most important manufacturing hub. Behind China's strength lies its manufacturing capacity. Today, China has become the largest manufacturing hub in the world and can rival America.

When the country became independent, India was called the Agriculture Minister's country. At that time, the agriculture sector contributed 55 percent to India's GDP. At that time, 69 percent of the people were employed in the agriculture sector. Now time has reversed. Prime Minister Modi is knocking chips everywhere to set up industries and increase industrial production. In 2022, the contribution of agriculture sector to the GDP is seven and a half percent while the contribution of industries is more than 25 percent. Prime Minister Modi has put various schemes and incentives before the industries for the promotion of the industries.

Due to Make in India and National Policy Fair Advance Manufacturing, Industry 4.0 etc. the production of industrial sector can be boosted. The government has made various schemes to keep industries focused on important things like producing more and selling their products.

Modern technology and job-seeking youth are becoming useful for India. Agriculture does not help as much as industry in reducing the unemployment rate. The agriculture sector can provide employment to the rural and less educated people but the less educated youth stay away from the agriculture sector.

The Indian government convinced the industries with the force of modern technology. In agriculture, farmers participate in the process of growing grains but grow the grains naturally. While in manufacturing a company can produce instantly with the push of a key. There is a difference in both the agricultural sector and the industrial sector. It seems that India is moving towards becoming a global manufacturing hub. In 2007, China became the world's largest producer. It beat America to the top spot. It was not until the 1980s that China began to innovate in the manufacturing sector. In 1991, China opened its economic doors to welcome every idea. This was the time when Manmohan Singh's government in India also took liberalizing measures. When China was eager to boost manufacturing, China benefited from its large population and cheap labor rates. China has given several concessions to its industries to meet the demand for components that has arisen in the wake of the boom in internet technology.

In 2010, India exported goods worth 375 billion dollars. It increased to 546 billion dollars in 2019. It can be said that an opportunity has arisen for India to become a global manufacturing hub. As the cold war between America and China is intensifying, some companies are ready to leave China. China's dispute with Taiwan may indirectly help India. Companies willing to leave China can come to India with a stable government. Companies can create miracles by coming to India. India's product link incentives are attracting industries.

According to an estimate, India's manufacturing sector will contribute 25 percent to the GDP by 2025 and this sector can provide employment to 27.3 million people. The ban on some products imported from China has created huge opportunities to manufacture these products in India. In 2014, India was at number 142 in the field of ease of doing business, today it is at number 63. India's food processing industry has a bright chance because the country has mangoes, bananas, Papaya is the largest crop in the world. With the increase in the number of working women, the demand for ready-made food has arisen. India ranks sixth in the world in terms of chemical production. India manufactures about 80,000 chemical products. In 2025, this sector will reach 305 billion dollars.

During the License Raj in India, many businesses stopped coming, but the tired businessmen stopped the expansion of their business.

The US$ 26 billion PLI scheme, an incentive in 13 sectors, is showing miracles. India can be an option for foreign investors and companies looking to move out of China.

India is attracting the attention of the world in many fields but India does not have the necessary factors to be at the top in the world. Even though it has been 75 years since India became independent, India cannot compete with global countries for development. Even today, the people of India do not get tired of talking about cleanliness and discipline about the success of foreign countries. China does not consider its population as a problem but has used it, so India also seems to have found the need to use its population to increase its production capacity.