Simrandeep KaurAIR 15 · CSE 2025 · 192 wordsTheir whole copy
Opening · a figure
India is blessed with median age of 28 years (on average) & 65% of its population comes in (15-64) age bracket.
Body · points
Manufacturing led Growth model
Need
- For increasing purchasing power of economy & aggregate demand to push more development. e.g. 60% of GDP = Private Consumption expenditure
- Export oriented growth → 44% growth in FY23 through FDI including manufacturing sector.
- Investment multiplier. Rs 1 spent on Capex → Rs 2.28 multiplier in same year Rs 4.80 for life time.
- Regional growth models. e.g. Ag-based in North-West Mineral rich in North-East
- Tech. modification e.g. 3D Printing, organoids, chip manufacturing for IR 4.0.
Challenges in this model.
- Low skill set → only 75% of workforce in India have market ready skills (CII)
- Poor social security → Only 25% of workers with social security net (ILO).
- Resource curse → underdevelopment of mineral rich industrial East India.
Measures.
→ Make-in India, PLI (for incentivizing investments) → PMKVY with new age skills. → Baba Kalyani committee suggestion of bringing MSME to SEZs • Inclusive & Resilient model is requird for shared knowledge based manufacturing driven economy.
Close · a way forward
None written.