Amit Shah Says Make in India 2.0 Will Target Future-Defining Global Sectors
Home Minister highlights reforms and growth as India shapes economy over next 25 years.
Union Home Minister Amit Shah announced that the ‘Make in India 2.0’ initiative will prioritize emerging sectors poised to shape the global economy over the next 25 years. Speaking at the Financial Express Best Banks Awards in Mumbai, Shah underscored India’s economic progress, emphasizing the transformative reforms in the banking sector under Prime Minister Narendra Modi’s leadership. Launched in 2021, Make in India 2.0 builds on the original 2014 initiative, aiming to position India as a global manufacturing hub by focusing on 27 key sectors, including electronics, pharmaceuticals, and renewable energy.
Shah highlighted the opening of 53 crore bank accounts over the past decade, enabling financial inclusion for India’s poorest citizens. He praised the Modi government for enhancing transparency in addressing Non-Performing Assets (NPAs) and injecting ₹3.10 lakh crore into the banking sector to strengthen its foundation. These reforms, he noted, have bolstered India’s global economic standing, with analysts acknowledging the country’s robust growth trajectory despite challenges like a stagnant manufacturing GDP share of 17.7% in 2023, short of the 25% target.
The minister’s vision for Make in India 2.0 aligns with India’s ambition to lead in futuristic industries such as artificial intelligence, semiconductors, and green energy. This follows earlier statements by Shah in April 2025, where he lauded Gujarat’s pioneering role in sectors like renewable energy and smart cities, urging integration of MSMEs with startups to drive innovation. The initiative aims to leverage India’s young workforce and policy reforms to attract foreign investment, with FDI inflows rising 119% to $667 billion from 2015 to 2024.
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Despite achievements, challenges remain, including job losses in manufacturing and declining investment rates. Shah’s address signals a strategic pivot toward high-value sectors to ensure India’s competitiveness in the global economy. The government’s focus on infrastructure, skill development, and Production-Linked Incentive (PLI) schemes aims to address these hurdles, positioning India as a manufacturing powerhouse by 2047, in line with Modi’s Viksit Bharat vision.
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