{"id":316791,"date":"2026-02-02T18:51:08","date_gmt":"2026-02-02T18:51:08","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/316791\/"},"modified":"2026-02-02T18:51:08","modified_gmt":"2026-02-02T18:51:08","slug":"india-eyes-global-manufacturing-powerhouse-status-with-budget-boost","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/316791\/","title":{"rendered":"India eyes \u2018global manufacturing powerhouse\u2019 status with budget boost"},"content":{"rendered":"<p><a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/topics\/india?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"nofollow noopener\">India<\/a>\u2019s newly unveiled budget signals a bid to cement its status as a global manufacturing powerhouse through a raft of policy measures, but analysts say the US$630 billion allocation will still require supplement as the country seeks new markets to diversify its trade.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The measures, rolled out in Finance Minister Nirmala Sitharaman\u2019s budget speech on Sunday, are seen to have addressed two critical issues \u2013 creating jobs for young workers, comprising the world\u2019s largest youth pool, as well as ensuring that the country is able to leverage several free-trade agreements to significantly boost exports.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Funds allocated to manufacturing industries include 100 billion rupees (US$1 billion) to establish India as a biopharma hub, 100 billion rupees for container manufacturing and 50 billion rupees for semiconductor and display manufacturing.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The total budget marked a 7.7 per cent increase from last year\u2019s estimates.<\/p>\n<p><img decoding=\"async\" alt=\"Indian Finance Minister Nirmala Sitharaman says the government will scale up manufacturing in key sectors and revive legacy industrial clusters to boost efficiency. Photo: EPA\" data-qa=\"BaseImage-handleRenderImage-StyledImage\" class=\"e1gf69pb2 css-6ikqhs e445x7d0\" loading=\"lazy\" src=\"https:\/\/www.europesays.com\/ie\/wp-content\/uploads\/2026\/02\/88742e8c-4a3f-4f30-bd3e-ebf9779f8872_1e19b856.jpg\" title=\"Indian Finance Minister Nirmala Sitharaman says the government will scale up manufacturing in key sectors and revive legacy industrial clusters to boost efficiency. Photo: EPA\"\/>Indian Finance Minister Nirmala Sitharaman says the government will scale up manufacturing in key sectors and revive legacy industrial clusters to boost efficiency. Photo: EPA<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Sitharaman said the government would scale up manufacturing in seven strategic sectors including biopharma, semiconductors, electronics components and rare earth magnets. Three chemical production parks will be set up to reduce import dependency.<\/p>\n","protected":false},"excerpt":{"rendered":"India\u2019s newly unveiled budget signals a bid to cement its status as a global manufacturing powerhouse through a&hellip;\n","protected":false},"author":2,"featured_media":316792,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[4692,153745,131535,153750,79,153749,131533,179,18,153746,153748,29676,19,387,17,48049,153752,153374,249,153747,1411,6535,153751],"class_list":{"0":"post-316791","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-bangladesh","9":"tag-bdo-india","10":"tag-biswajit-dhar","11":"tag-btg-advaya","12":"tag-business","13":"tag-christian-de-guzman","14":"tag-council-for-social-development","15":"tag-economy","16":"tag-eire","17":"tag-ey-india","18":"tag-finance-minister-nirmala-sitharaman","19":"tag-goods-and-services-tax","20":"tag-ie","21":"tag-india","22":"tag-ireland","23":"tag-make-in-india","24":"tag-manoj-purohit","25":"tag-moodys-ratings","26":"tag-msmes","27":"tag-saurabh-agarwal","28":"tag-us-tariffs","29":"tag-vietnam","30":"tag-xerxes-antia"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116002546335948026","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/316791","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=316791"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/316791\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/316792"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=316791"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=316791"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=316791"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}