ANI New Delhi

The manufacturing sector in the country is poised for significant growth, with its contribution to the Gross Value Added (GVA) expected to rise from the current 14 per cent (USD 459 billion) to 21 per cent (USD 1,557 billion) by 2032.

According to a report by Sharekhan, the manufacturing sector's incremental contribution to the economy is projected to exceed 32 per cent, highlighting its critical role in driving India's economic transformation.

The report said, "Manufacturing set to get a higher slice of GVA." 

The surge in manufacturing is backed by robust capital expenditure (capex) by both the government and corporations.  The sector's incremental contribution to the economy is expected to exceed 32 per cent, underscoring its pivotal role in driving India's march toward becoming a $10 trillion economy by 2034.