More jobs, boost to manufacturing, toys export: Union Minister Ashwini Vaishnaw explains Make in India success

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Also Read: We continuously maintained momentum of being fastest growing major economy: FM Sitharaman in Rajya Sabha In the last financial year, a total of 762 billion dollars of exports was recorded. Out of this, 453 billion dollars was merchandise exports, services exports were 309 billion dollars. The picture was not the same 10-15 years ago when the export was led by services export mostly, Union Minister told ANI on Thursday.

Also Read: Crude oil prices decline: How it will impact the equity market, reasons for the fall, sectors to be affected and more Explaining the importance of the manufacturing sector in employment generation, Vaishnaw said, “When PM Modi launched Make in India, there was a deep thinking behind it. If things are manufactured in India, our people get jobs and our small and micro industries generate employment. If exports to other countries increase, money comes to the country and a change comes to the income and economy of the country in a way.

With this thinking, Make in India was launched. Its success is clear." Also Read: The rise and rise of UPI: A forecast for Unified Payments Interface for 2024 After the launch of Make in India, every sector is seeing good manufacturing growth, claimed Ashwini Vaishnaw. He also highlighted how a boost in the manufacturing sector has led to diversification in the contributors of India's exports.

Also Read: Budget 2024: What will the market look for in Vote on Account? “There is about 11 billion dollars worth of electrical machinery & equipment exports, about 11 billion dollars worth of mobile phones export. This growth is rising. This year too, 50 billion dollars of mobile phones' manufacturing has been done and the export is worth about 15 billion dollars,"