New Delhi, Dec 11 (LatestNewsX) – According to a recent study, India is set to emerge as a top‑tier manufacturing force by 2047, with the contribution of manufacturing to GDP expected to climb from roughly 17 % today to about 25 %.
The analysis, conducted by Boston Consulting Group in partnership with Z47, points to five key growth engines: electronics, defence, automotive, electric vehicles, and energy & pharmaceuticals, all of which could create a $25 trillion industrial frontier by the target year.
A major focus falls on the electronics and semiconductor sectors, where projected demand jumps from $33 billion in 2022 to over $117 billion by 2030.
In the consumer market, the share of locally assembled phones has surged from a modest 26 % in 2014‑15 to more than 99 % today, underscoring the influence of the Production Linked Incentive framework.
“This isn’t merely about volume; it’s about strategic autonomy,” said Ishang Jawa, Managing Director and Partner at BCG. “India is no longer just a component assembler; we’re designing, innovating, and embedding ourselves into the global value chain.”
Electric vehicle sales have exploded from about 50,000 units in 2016 to over 2 million in 2024, now accounting for around 9 % of the worldwide EV fleet. The same report highlights a potential $100 billion export window for auto parts.
“With decisive policy shifts and surging demand in arenas such as EVs and high‑end electronics, India is forging the groundwork and momentum to lead a broad range of industries,” added Natarajan Sankar, Managing Director and Partner at BCG.
Regional manufacturing hubs—particularly in the defence, EV, and semiconductor niches—cluster around corridors like Noida–Chennai–Hosur and Dholera. The firm believes these clusters will spur co‑location of suppliers, shared research facilities, and streamlined logistics.
The report also notes that India has reached 50 % of its non‑fossil fuel capacity five years ahead of schedule.
Key recommendations include scaling research & development, fortifying talent pipelines and reversing the brain‑drain, building world‑class cluster ecosystems, and intensifying private‑sector and startup engagement to translate policy into durable global leadership.
“Achieving excellence in advanced manufacturing and deep‑tech is critical to realizing the Viksit Bharat 2047 vision,” said Sudipto Sannigrahi, Managing Director at Z47.
Sannigrahi urged policymakers to rally PhD talent across India and the Indian diaspora in the US, and to craft targeted initiatives that help deep‑tech startups accelerate to profitability.
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