Blitz Bureau
NEW DELHI: India’s manufacturing performance has strengthened further in recent quarters, with GVA (gross value added) growth of 7.72 per cent in Q1 FY26 and 9.13 per cent in Q2, supported by a gradual shift towards higher-value production, improved industrial infrastructure, and wider adoption of technology and formalisation, an official statement said on February 12.
The Economic Survey 2025-26 highlights that medium- and high-technology industries now contribute 46.3 per cent of India’s manufacturing value added, signalling a gradual shift towards more sophisticated production structure.
“Reflecting these gains, India’s global industrial competitiveness has improved, with the country’s ranking in the Competitive Industrial Performance (CIP) index rising to 37th in 2023 from 40th in 2022,” the statement said.
Notably, manufacturing today sits as the engine of growth for India’s ambition to become a $35 trillion economy by 2047, with reforms, sectoral initiatives, and resilient supply chains.
The statement further said that the Union Budget 2026-27 has reinforced support for manufacturing through targeted measures focusing on investment incentives, innovation, infrastructure development, and industrial ecosystem strengthening. Moreover, the industrial activity continues to gain strength, with real Industry GVA growing at 7 per cent year-on-year in the first half of FY 2025-26.