Manufacturing holds the key to the development of India and that accounts to around 15.4% of real GDP in FY12 and that growth led to the employment of around 12% of India’s labor force. Indian manufactures have also seen lot of competition from other countries that have been doing well in manufacturing and surprisingly Indian manufacturers have made sure that they deliver results that have boosted the manufacturing exports that now stands at US$168.1 billion. Engineering goods account for the highest share which is around 40% of the total manufacturing exports. Apart from that gems and jewelry that account nearly 24.3%, chemicals and related products that stand third at 17.2% and textiles that account for nearly 13.9% of the total manufacturing exports in India.
With the progress happening in the Indian manufacturing segment, there are many foreign investments that are being made that actually help to boost the manufacturing companies today. While the manufacturing segment declined few months ago, but it has picked up well and Indian manufacturers are optimistic about the substantial growth that will happen in the near future. India is aiming towards the US$325 billion mark in terms of manufacturing exports as new businesses and firms enter the manufacturing sector that has seen lot of development.