Overview

• S&P Global projects that India’s manufacturing growth could add 1.3 percentage points to real GDP over the next decade, bolstered by policy measures and global trade shifts.
• India’s manufacturing value added accounts for 17.2% of GDP, with targeted government incentives like the Production Linked Incentive schemes driving capacity expansion.
• Moody’s Ratings revised India’s 2025 GDP growth forecast to 6.3%, citing global uncertainties, but predicts a recovery to 6.5% in 2026.
• Indian ports and logistics infrastructure are positioned to benefit significantly from the China+1 strategy as companies diversify operations outside of China.
• Mobile phone exports surged to $20.4 billion in 2024, reflecting India’s growing role in global electronics manufacturing, partly driven by Apple’s shift from China.