Key Points

Kharge flagged a fall in the manufacturing sector's share in the Gross Domestic Product (GDP) and said that the initiative has "failed many".

Sharing an X post, he wrote, "As Make in India completes 11 years. Served a few, failed many. Manufacturing share in GDP fell from 17.3 per cent to 13 per cent. Weak export performance. Declining investor confidence in the manufacturing sector."

Further, he alleged that the demonetisation of the old Rs 500 and Rs 1000 currency notes affected the MSMEs and flagged unemployment in the country.

"100 million jobs promised, unemployment is at a record high. Demonetisation killed SME/MSMEs. Complex rollout of GST. FDI crashed 96.5 per cent, a historic low. No red carpet, more red tape," the X post read.

According to a press release by the Minister of Commerce and Industry, the 'Make in India' initiative was launched on September 25, 2014, to facilitate investment, foster innovation, build best-in-class infrastructure, and make India a hub for manufacturing, design, and innovation.

Now, the 'Make in India 2.0' phase encompasses 27 sectors.

While the Opposition has criticised the program, Union Minister Piyush Goyal reflected on the program's transformative impact on India's manufacturing landscape, adding that the vision has transformed India into a global manufacturing powerhouse.

Goyal stated that this vision has "transformed India into a global manufacturing powerhouse."

"Today, I am proud to say that this vision has transformed India into a global manufacturing powerhouse. In these years, record FDI inflows, vast improvements in ease of doing business, our rise as the second-largest mobile manufacturer globally, soaring exports, and expanding defence production, all showcase how far we have come," Goyal added in his X post.

A cornerstone of this industrial revival has been the Production Linked Incentive (PLI) Scheme, which Goyal credited for generating massive investments and job creation across multiple sectors.

He also highlighted India's thriving startup ecosystem, driven by the energy of young and women entrepreneurs, which has positioned the country as the world's third-largest innovation hub.

"The journey has been made possible because of the collective effort of our industry, MSMEs, startups, entrepreneurs, and every citizen who carries the spirit of Swadeshi in their heart," Goyal stated, underscoring the grassroots strength behind the movement.

- ANI