India now sixth-biggest manufacturer: Modi

Image: http://www.brics-info.org

Image: http://www.brics-info.org

India has moved from ninth to the sixth biggest manufacturing nation, according to its prime minister Narendra Modi, telling an audience at a Gujarat investment summit that the Make In India program had been hugely successful so far.

The Hindustan Times reports that Modi appeared at the eighth biennial, Vibrant Gujarat Global Summit which he established in 2003 as chief minister.

Hailing the success of the Make In India program – announced in September 2014 and aimed at lifting manufacturing’s share from 16 to 25 per cent of GDP – he said potential existed to expand the sector much further. Food processing, for example, was predicted to expand fivefold in the next decade, NDTV reports him as saying.

The Economic Times reports that Modi also said the country, “[Was] seen as the engine of global growth” and that India was “on the threshold of becoming the world’s most digitised economy.”