Commerce and Industry Minister Piyush Goyal has stated that the efforts to promote the 'Make in India' program are beginning to show strong results. Goyal made these remarks while addressing an event celebrating the 10th anniversary of the 'Make in India' initiative.
Goyal emphasized the government's commitment to facilitating business, promoting domestic manufacturing, and supporting trade and industry, including international trade. He pointed to the recent GDP growth rate in the first quarter of the fiscal year as evidence of the program's success, exceeding economists' expectations. He expressed confidence that this growth would continue leading up to 2047, adding that the goal is to make India a $30-$32 trillion economy by the time India celebrates 100 years of independence.
On September 20, 2025, Goyal unveiled initiatives to further boost the 'Make in India' scheme. These include the launch of a commemorative coin marking a decade of the initiative. Over the past 10 years, the initiative has facilitated investment, encouraged innovation, built world-class infrastructure, and positioned India as a global hub for manufacturing, design, and innovation.
The Minister also launched several initiatives developed by the Department for Promotion of Industry and Internal Trade (DPIIT) to enhance operational efficiency and create a globally competitive logistics ecosystem. These include the launch of Logistics Data Bank (LDB) 2.0, advancing India's journey toward a digitally empowered, investment-ready, and export-competitive economy. According to Goyal, LDB 2.0 will provide critical insights into the availability of facilities and infrastructure across the logistics ecosystem. He also released the Guidebook on Mapping of Harmonised System of Nomenclature (HSN) Codes, prepared by DPIIT.
Additionally, Goyal launched the Industrial Park Rating System (IPRS) 3.0, developed by DPIIT with support from the Asian Development Bank. This initiative aims to strengthen India's industrial ecosystem and enhance the competitiveness of industrial infrastructure. The ministry stated that IPRS 3.0 will provide investors with transparent and credible information, foster healthy competition among States and Union Territories, and guide policymakers in designing targeted interventions.
The government has initiated Integrated State and City Logistics Plans under the SMILE program in collaboration with the Asian Development Bank (ADB), beginning with eight cities across eight states. Anchored by DPIIT, these initiatives underscore the Government’s commitment to modernising logistics infrastructure and streamlining supply chains across India.
Goyal highlighted the development of infrastructure projects such as the Jewar International Airport in Uttar Pradesh and the new airport in Mumbai, which are anticipated to boost growth and opportunities. He mentioned his recent visit to the UAE, where industry leaders explored opportunities for increased trade and investment. Goyal noted that bilateral trade between the UAE and India has crossed $100 billion after the FTA. The 'Bharat Mart' is expected to be completed by early 2027, which will give MSMEs an opportunity to showcase their products, have a warehousing facility, and have quick logistics from there, to be able to supply across the globe.
In August 2025, Goyal praised the government's commitment to "Make in India", which has attracted multiple global MNCs to India. He lauded German company Hafele's commitment to local sourcing and manufacturing in India. Hafele plans to increase its local sourcing from India from 10% to 30% by the end of 2025 and 50% soon after.
