BENGALURU: India is a global manufacturing hub and is expected to contribute more than $500 billion annually to the global economy from the manufacturing sector by 2030, said Union Minister for Consumer Affairs, Food and Public Distribution and New and Renewable Energy Pralhad Joshi on Thursday.
He was speaking at the inauguration of the 7th edition of the India Manufacturing Show (IMS) 2025 in Bengaluru.
Calling the current decade a turnaround in India’s industrial journey, Joshi highlighted that 33% of employment and 45% of exports come from MSMEs.
“The Union Government has reserved 15,350 defence items for domestic manufacturers, especially MSMEs. Earlier, we imported almost everything in defence. Today, nearly 90% of bulletproof jackets are manufactured in India,” Joshi said.
Referring to the recent Operation Sindoor, he added, “Our enemy didn’t even realise when we acted — much of the equipment used was manufactured by our MSMEs.”
Union Minister of State for MSME and Labour and Employment Shobha Karandlaje, who also spoke at the event, emphasised that MSMEs are now India’s second-largest source of employment after agriculture, providing jobs to nearly 30 crore people. She said MSMEs contribute 30% to the country’s GDP, 45% to manufacturing output, and 40% to exports, calling them “partners in India’s development and key to becoming a global manufacturing hub”.
Reinforcing the message of industry-led growth, Indian Space Research Organisation (ISRO) Chairman V Narayanan said that Indian manufacturing now forms the backbone of India’s space operations.
“Our latest communication satellite CMS-03 was launched just four days ago — and 80–85% of the systems were supplied by Indian industry,” he said. ISRO plans to increase launch frequency from 10–12 a year to 50 a year, he said, adding, “We need industry as partners, not vendors.”
Defence Research and Development Organisation (DRDO) Chairman Samir V Kamat said India has shifted from heavy import reliance to domestic defence production.
“We have moved from importing 70% of our defence systems to placing nearly 90% of new orders on domestic industries. MSMEs are now key partners in India’s journey towards self-reliance,” he said.
The three-day India Manufacturing Show marks the biggest edition to date with over 450 exhibitors, including 220 MSME’s that will showcase innovations across sectors such as aerospace and defence, automation and robotics, electrical and electronics, and so on.