The Indian manufacturing bases ranks fourth in the list of the largest manufacturing bases in emerging economies. China is the only country which is ahead of our level of investment as a proportion of the GDP.
In view of CMIE ( Centre for Monitoring Indian Economy ) report, around 34% growth has been registered by 2200 listed manufacturing companies in terms of their aggregate net sales.
Consequently, India is fast growing to be a global manufacturing hub, All the necessary skills in capital engineering, process and products are possessed by the country as a result of its higher education, combined with its long manufacturing history.
Numerous enterprises from varied industries are attracted by the cheap, skilled Indian manpower, in turn turning the country into a global manufacturing powerhouse.
The huge domestic market in India as well as the availability of cheap, skilled manpower attracts the forever growing number of multi national companies, who wish to set up their manufacturing bases in India.
The very size of the market in India is quite appealing. According to a study conducted by the McKinsey Global Institute, given the rate at which the Indian economy seems to be growing, it is probable that by 2025, India will have become the 5th largest consumer market in the world.
It is also estimated that, by 2025, the aggregate Indian consumer spending would have quadrupled to about US$ 1.5 trillion, as a result of a three fold hike in household income and a ten fold raise in middle class population.
An abundance of technical and engineering manpower too is offered by India, producing roughly 4000,000 engineering graduates every year.