Kalyani bullish on manufacturing sector, says 'Make in India' showing results

Gandhinagar, Aug 1: Bharat Forge CMD Babasaheb Kalyani today expressed confidence that the manufacturing sector will show significant improvement after Diwali and said that 'Make In India' drive is showing results on the ground.

"India's GDP stands roughly at around USD 2 trillion, in which the manufacturing sector's contribution is around 15 to 16 per cent, that is around USD 320 billion. "In the next 5 to 6 years, our GDP would reach up to USD 5 to 6 trillion.

It will make us third-largest economy after China," Kalyani pointed out while speaking at the fourth convocation of Indian Institute of Technology - Gandhinagar.

"Through the 'Make in India' campaign our PM has envisaged to take the contribution of manufacturing sector in the GDP to 25 per cent in the next 10 to 15 years, which will come to around USD 1.2 trillion.

That is the growth you can expect in the manufacturing sector," said Kalyani. Later, speaking to reporters, Kalyani stated three things, namely policy, talent and investment are necessary for the success of 'Make In India'.

"Policy is now ready and government is also making efforts towards ease of doing business. Talent won't come overnight. But institutions like IIT Gandhinagar are focusing on skill-building.

To bring new investment, Modi government is working really hard and they are also getting success in that," he added.

Asked to comment on the criticism that 'Make in India' is not showing results on the ground, Kalyani disagreed.

PTI