Addressing at the 96th FICCI’s Annual General Meeting (AGM) and Annual Convention, Dr Pawan Goenka, Chairman, Steering Committee on Advancing Local value-add & Exports (SCALE) today highlighted that India is at a pivotal moment of unlocking the full potential of the manufacturing sector. The sector currently contributes about US$ 450 billion to India’s overall Gross Value Addition (GVA) , accounting for a share of about 14.6 per cent, he added.

He mentioned that the SCALE Committee is trying to address a host of horizontal issues like demand aggregation within the manufacturing sector and across areas including , EoDB, cost competitiveness, brand India etc. Goenka added that India has a lot more ground to cover in manufacturing as India's share in global merchandise exports remains less than 2 per cent, with a global ranking of 17. He underscored the ambitious goal of achieving US$ 1 trillion in merchandise exports by 2030, encapsulating the aspirations of self-reliance in manufacturing and positioning India as a global manufacturing hub.

His address outlined India’s key inherent advantages including a burgeoning market, a vast consumer base, strategic geo-location, and a growing soft power. Goenka also acknowledged the important role of government policies, particularly the commitment towards 'Make in India' through the Production Linked Incentive (PLI) scheme covering 14 sectors, as well as the immense support to renewable energy and infrastructure sectors.

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