NamasteRapidIndia Centre Working On Rapid Mission To Supercharge Manufacturing
Objective:
Rapid aims to boost local value addition in manufacturing.
It encourages private sector innovation and research and development (R&D).
Focus Sectors:
Key sectors include automobiles, electronics, electronicComponents, medical devices,# drones, defense, aerospace, and space technology.
EconomicImpact:
Manufacturing currently contributes 17% to India’s economy (up from 14.4% in FY21).
The target is 25% by 2025 to raise wages and fuel economic growth.
Three-Tiered Goals:
Rapid sets short-term (two years), mid-term (five years), and long-term (decadal) strategies.
Implementation:
An R&D scheme under Rapid has already been approved by key government departments.
Discussions are ongoing across various ministries.
Steering Committee:
Rapid is housed under India’s existing Steering Committee for Advanced Local Value-Add and Exports (SCALE).
PawanGoenka, former CEO of Mahindra & Mahindra and current chairman of In-Space, leads the committee.
https://lnkd.in/dyA9YTvh
Originally published on LinkedIn on 2024-08-29 11:39:27: https://www.linkedin.com/feed/update/urn%3Ali%3AgroupPost%3A60128-7234887374336348160
NamasteRapidIndia Centre Working On Rapid Mission
Objective:
Rapid aims to boost local value addition in manufacturing.
It encourages private sector innovation and research and development (R&D).
Focus Sectors:
Key sectors include automobiles, electronics, electronicComponents, medical devices,# drones, defense, aerospace, and space technology.
EconomicImpact:
Manufacturing currently contributes 17% to India’s economy (up from 14.4% in FY21).
The target is 25% by 2025 to raise wages and fuel economic growth.
Three-Tiered Goals:
Rapid sets short-term (two years), mid-term (five years), and long-term (decadal) strategies.
Implementation:
An R&D scheme under Rapid has already been approved by key government departments.
Discussions are ongoing across various ministries.
Steering Committee:
Rapid is housed under India’s existing Steering Committee for Advanced Local Value-Add and Exports (SCALE).
PawanGoenka, former CEO of Mahindra & Mahindra and current chairman of In-Space, leads the committee.
Source / shared link: https://swarajyamag.com/economy/centre-working-on-rapid-mission-to-supercharge-manufacturing
Originally published on LinkedIn on 2024-08-29 11:38:24: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7234887107742191616
