Page 18 - Clean India Journal - Sept 2023 Digital Edition

Cover Story

Manufacturing Ecosystem in the domestic market. It is expected to lay down the roadmap for the
India, providing capital incentives to grow at 7-8% in FY25, supported development of the industry. India
to the value and supply chain of by a 6-7% growth in exports and aims to double the size of its auto
semiconductor manufacturing, an 8-9% growth in the domestic industry to ₹15 lakh crores by the
which has the potential to further market. end of FY24; correspondingly,
substantially promote domestic The largest number of FDA- over the past twenty-something
manufacturing of mobile phones in approved pharma plants outside the years, FDI inflow to this sector has
India. US are in India, which is also one amounted to $33.77 billion.
Under the EMC Scheme, the of the biggest suppliers of low-cost By 2030, the Indian government
Central government will provide vaccines to the world. The Union has committed that 30% of all
financial assistance to state Cabinet has recently approved new vehicle sales in India would
governments for setting up of the National Medical Devices be electric, making it the largest
Electronics Manufacturing Clusters Policy, and allowed up to 100% market for EVs in the world.
(EMCs) and Common Facility FDI through automatic route for Over the next three years alone,
Centres (CFCs) across the country. greenfield pharmaceuticals projects. EV manufacturing will grow at a
These EMCs are expected to CAGR of 36%; annual sales are
provide a package of best-in-class Generic drugs account for 20% expected to hit 10 million units at
services to investors who plan to of the global export in terms of the end of this decade.
set up their manufacturing facilities volume, making India the largest The Indian automotive industry is
within the country. 23 EMCs provider of generic medicines in the midst of increasing its export
and three CFCs are being set up globally. The government has set of vehicles by five times between
across India in sub-segments such a target to increase the number
as mobile phones, printed circuit of Pradhan Mantri Bhartiya Jan 2016-26. The trucking market is
board (PCB), consumer electronics, Aushadhi Kendras (PMBJKs) to expected to grow over 4x by 2050.
medical electronics, solar cells and 10,500 by the end of March 2025; Intense cleaning and clean room
modules, electronic components their list of products includes 1,451 maintenance are just some of the
and automotive electronics. drugs and 240 surgical instruments. tasks for FM in this sector.
The tilt towards generic medicines
Pharma & biopharma will catapult this sector into the Chemicals
next phase of intense growth.
Among all manufacturing India is expected to become
segments, this one has shown the Automobiles a $850-1,000 billion chemicals
most uninterrupted, reliable growth. market by 2040, growing at 9-10%
Over the past five years, the Indian The Automotive Mission Plan annually. Exports are projected to
pharmaceutical industry has logged 2016-26 is a mutual initiative grow at a CAGR of 9.5-10% to
a CAGR of 6-8%, driven by an 8% by the Government of India and $140-145 billion by the same point.
increase in exports and a 6% rise in the Indian automotive industry The fastest-growing segment
among the three main segments of
the chemical sector – inorganic,
petrochemicals and specialty – the
net exports of specialty chemicals
are expected to rise around ten
times, from about $2 billion in
2021 to $21 billion. Almost 80%
of the exports in the segment will
come from four sub-segments:
agrochemicals, dyes and pigments,
cosmetics and personal care and
food ingredient chemicals. The rise
in demand from end-user industries
such as food processing, personal
care and home care is driving
development of different segments
in India’s specialty chemicals
market.

SEPTEMBER 2023•Clean India Journal
18 www.cleanindiajournal.com