Reimagine Swadeshi: India’s Manufacturing Ecosystem

• Hyundai Motors has increased its investment in its upcoming plant in Maharashtra from Rs 7,000 crore to Rs 11,000 crore.

• This move follows a recent cut in the GST rate on small cars from 28% to 18%.

• Other companies like Hyundai and Toyota Kirloskar are leveraging India’s domestic market and export potential.

• Foreign firms like Maruti Suzuki and Toyota have recognized India’s ability to cater to both segments.

• The business strategy of both domestic sales and exports from India makes sense, especially when tariff and non-tariff barriers are reappearing.

• India’s domestic market offers a fallback base for firms actively engaged in exports.

• Prime Minister Narendra Modi’s interpretation of Swadeshi, stating that products should be manufactured in India, signals the right signal.

• India needs more success-story investments like those of Maruti Suzuki, Hyundai, Apple, and Samsung.

• Stable policies and schemes with one-time incentives and clear sunset clauses are needed to attract large-scale investment across key sectors where India has potential comparative advantage.

Swadeshi and Made in India is important topic for Civil service exam (WBCS).

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