1、For updated information,please visit www.ibef.orgAugust 2025Manufacturing2Executive Summary3Advantage India 4Market Overview 6Recent Trends and Strategies16Growth Drivers and Opportunities19Key Highlights of Union Budget 2023-2427Key Industry Contacts29Appendix31Table of Contents3Executive summaryCo
2、mpetitivenessThe India-United Kingdom(UK)Free Trade Agreement(FTA)is set to enhance the global competitiveness of Indian tyre manufacturers byremoving import duties on tyre and rubber products exported to the UK.This immediate tariff elimination is expected to give Indian companies asignificant pric
3、e advantage,deepen their presence in the British market,and build on existingexport momentum.India has the potential to produce technology at a lower cost than China if it can efficiently master and manufacture it,stated World Bank CountryDirector Mr.Auguste Tano Kouame.He emphasised that Indias lar
4、ge workforce providesa competitiveadvantagein the global market.Pillar for economic growthTheIndianmanufacturingindustrygenerates around 17%of Indias GDP andis projected to be one of the fastest-growingsectors.The manufacturing sector of India has thepotential to reach Rs.87,57,000 crore(US$1trillio
5、n)byFY26.Fromthecurrentcontribution to the economy of 15%,it isexpectedtogrowto20%by2030,propellinggrowthexpectationsinthissegment.Indias manufacturing sector experienced a significant boost in July 2025,with the HSBC India Manufacturing PMI hitting a 16-month high of 59.1.This was driven by the fas
6、test increase in factory orders in nearly five years and a strong expansion in output,especially for intermediate goods.Potential to become a global hubIndia has the potential to become a globalmanufacturinghubforwindpowercomponents.India is well-positioned tocater to 10%of the global wind energydem