Panel to boost manufacturing in India

The Steering Committee for Advancing Local Value-Add and Exports (SCALE), a government backed panel, has produced a road map to double India’s manufacturing exports in next five years, reduce the imports by 2/3^rd in the selected sectors and boost domestic consumption to 9% from roughly 7% during a normal year under the Atmanirbhar Bharat Policy.
The panel, headed by former Mahindra & Mahindra MD Pawan Goenka, has said that targeting these three critical factors would result in incremental domestic value addition of US $350-380 billion over the span of next five years. Manufacturing exports in India amount to US$ 229 billion in 2019, having 43% share in total exports including both merchandise and services.