India Aims to Triple Exports by 2035 with Manufacturing Reforms

• India plans to triple its exports by 2035, shifting focus from subsidies to deep structural reforms in manufacturing.
• This is the third major attempt under PM Narendra Modi to boost manufacturing's share in the economy and strengthen exports.
• The strategy prioritizes 15 key manufacturing sectors, including semiconductors, metals, energy storage, and labor-intensive industries like leather, aiming for $1.3 trillion in annual goods exports.
• Unlike previous initiatives (Make in India, PLI scheme), the new plan involves modest funding, focusing instead on easing regulatory and compliance hurdles.
• A National Manufacturing Mission panel will oversee the initiative, facilitating approvals, land clearances, cheaper financing, and harmonizing state-level rules.

Why It Matters: India targets tripling exports by 2035 through structural manufacturing reforms, not just subsidies.