PM Modi Flags Off Suzuki's First EV, Vows to Make India's Manufacturing Sector Globally Competitive

Strategic Insights -

Prime Minister Narendra Modi on Tuesday flagged off Suzuki Motor and Maruti's first electric vehicle (EV) in Gujarat and announced that India was prioritizing "Mission Manufacturing" to make local production more efficient and globally competitive. He emphasized the need to strengthen ease of doing business and build capacity in futuristic industries such as semiconductors and rare earth magnets. Modi stated that India's industrial growth would focus on building efficiencies, engaging in cutting-edge technologies, and achieving greater excellence in sectors where the country has performed well.

Key Takeaways:

  • India is prioritizing "Mission Manufacturing" to make its manufacturing sector globally competitive and efficient.
  • The focus will be on strengthening ease of doing business and building capacity in futuristic industries such as semiconductors and rare earth magnets.
  • Industrial corridors are being developed to support this vision, and plug-and-play infrastructure and logistics parks are being established across the country.
  • The Centre and states need to focus on reforms to attract investors, with past reforms having given an impetus in sectors such as electronics and defense.
  • Electronics production in India has increased by nearly 500%, mobile phone production has surged by up to 2,700%, while defense production has witnessed a growth of over 200% in the current decade.
  • States should compete on ushering reforms to attract new investments and build on efficiencies, engaging in cutting-edge technologies, and achieving greater excellence in sectors where India has performed well.
  • The government is attentive to the challenges faced by the auto industry due to shortages of rare earth magnets.
  • The Suzuki eVitara will be exported to over 100 countries, including Japan and Europe, and emerge as a showcase project for India's global manufacturing prowess.
  • India's 'Make in India' journey is entering a new chapter, with the PM aiming for "Make in India, Make for the World."

Statistics:

  • 500% increase in electronics production in India in the current decade
  • 2,700% surge in mobile phone production in India in the current decade
  • Over 200% growth in defense production in India in the current decade
  • India aims to export the Suzuki eVitara to over 100 countries
  • 100 countries will be the destinations for the exported Suzuki eVitara

Sources:

  • PM Modi's speech in Gujarat as per The Times of India report
  • International press coverage of PM Modi's announcement of 'Mission Manufacturing'