India has launched a startup every hour in the past 10 years creating around 15 lakh jobs, the government said highlighting the achievements under its Make in India initiative that completed 10 years on Wednesday. Launched on September 25, 2014 by Prime Minister Narendra Modi, the initiative was part of India’s renewed focus on manufacturing and to promote India as the most preferred global manufacturing destination.
Hailing the 10-year mark, PM Modi in a post on X said “Make in India illustrates the collective resolve of 140 crore Indians to make our nation a powerhouse of manufacturing and innovation. It’s noteworthy how exports have risen in various sectors, capacities have been built, and thus, the economy has been strengthened.”
The startup count in the country also grew in 10 years from just over 350 startups in 2014 to 1.48 lakh registered under the Startup India programme. The government also highlighted a 45 per cent share of startups coming from Tier II and Tier III cities and over 1 crore patents granted since 2014.
With respect to MSMEs, it noted over 4.91 crore registered MSMEs on the Udyam portal including 1.85 crore women-owned enterprises. The registered units have generated 21.17 crore jobs and contributed 30.1 per cent to India’s GDP in 2022-23.
“Make In India has catalyzed a manufacturing revolution, igniting innovation and have helped promote local manufacturing and business, especially for the MSMEs,” said Shobha Karandlaje, Minister of State, MSME Ministry in a post on X.
Former NITI Aayog CEO Amitabh Kant also highlighted “New MSME thresholds to fuel growth while retaining benefits,” among major strides in 10 years of Make in India. The MSME Ministry in 2020 had revised the definition of micro, small and medium enterprises. From the previous definition based solely on investment up to Rs 10 crore in plant and machinery, the new definition was notified on June 1, 2020, to cover enterprises with turnover up to Rs 250 crore and investment up to Rs 50 crore under the MSME ambit.
Among other key achievements highlighted under 10 years of Make in India were:
- Rs 1.55 lakh crore worth of khadi sales in 2023-24
- Rs 1.28 lakh crore investment realised under PLI scheme with over 8.5 lakh jobs generated and exports boosted by more than Rs 4 lakh crore
- 239 per cent growth in toy exports since implementing the National Action Plan for toys in 2020