India’s growth story is now at a turning point where the way we work is completely changing. For the last 30 years, the whole world knew India because we made software and provided IT services to companies around the world. Now economic experts say that this old model of India is gradually being left behind. Now the entire emphasis is not just on computer coding, but on setting up big factories, making electronics goods, manufacturing semiconductor chips and making electric vehicles (EV). This change is not a small thing, but it is the biggest change ever in the way of doing business in India, which experts are considering as a big ‘pivot’.
Economic experts believe that the IT sector has brought glory to India in the whole world but now times are changing. Nowadays labor is becoming expensive and the methods of work are changing with the advent of new technologies like AI. In such a situation, it is not possible to provide employment to such a large population of the country by relying only on the service sector. Market experts clearly say that India’s old growth model has now reached its limit and now the need of the hour is that we turn our attention towards factories and data centres. This is the reason why investors are now investing their money in industrial areas and factories instead of software parks, so that common people can get work on a large scale at the grassroots level.
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World trust in India
Nowadays, big companies of the world are working on a special strategy which is called ‘China Plus One’. This means that they do not want to depend only on China for their goods and want to set up their factories in a safe country other than China. India is taking the biggest advantage of this opportunity. Big companies like Apple and global brands making electric vehicles have started increasing their production in India. When such big companies come to India, they not only set up a factory, but thousands of small companies making small parts also start with them. This increases investment in the country and our goods start selling more in other countries.
PLI Scheme Report Card
To promote factories, the government had started a special scheme PLI (Production Linked Incentive Scheme) for the first time in the year 2020 to make electronics goods. Government records show that due to this scheme of the year 2020, goods worth Rs 4.45 lakh crore have been manufactured by December 2023. As far as jobs are concerned, this scheme has so far provided direct employment to about 1.85 lakh people.
However, it is worth noting that the government had set a target of creating 2 lakh jobs through this scheme, which means at present this figure is slightly less than the target. Despite this, the increase in exports of electronics shows that India is now manufacturing the goods on a large scale itself.
New preparations worth Rs 42,000 crore
Now the government wants to take this success further. By May 2026, the government may bring a new scheme named ‘PLI 2.0’ for manufacturing mobile phones. For this, the government has decided to keep a big budget of more than 5 billion dollars i.e. about Rs 42,000 crore. This time the aim of the government is not only to make phones, but also to get small and important parts inside the mobile made in Indian factories. With this, India can become the biggest center of electronics for the whole world in the coming time.
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new sectors of the future
India’s future now depends not only on old methods but on the technology of tomorrow. This includes electric vehicles, mobile chips and large data centers. The government is spending a lot of money on roads and other facilities so that factories do not face any problem in working. This journey from software to factory will not only increase India’s trade, but it will also make our economy so strong that we will be able to meet the needs of the world with goods made in India. With this, investment, jobs and income will increase rapidly in the country.
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