India has long been thought of as the world's back-office, while its Asian counterpart China claimed the title of global factory powerhouse.
Those classifications held true for decades as India grew its capabilities in global command centers and other information technology services while China dominated large-scale manufacturing.
India's economic focus shifted to a new target when its government declared that manufacturing would spur its economy to high-income status by 2047.
The central government's launch of the "Make in India" initiative in September 2014 kicked off a move to galvanize efforts in becoming a manufacturing hub. Its intent was clear: to develop India's manufacturing capabilities in sectors like automotives, electronics, pharmaceuticals and aerospace while creating opportunities for locals.
In the 10 years since the launch of "Make in India," the government has dished out varied support measures such as the Production Linked Incentive Scheme, which supports businesses both local and foreign in planting roots in India. With an outlay of 1.97 trillion Indian rupees ($24 billion), 14 sectors are being leveraged under the PLI based on factors like their scope to reduce imports, boost exports and create employment.
