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India is expected to scale up its manufacturing exports to $1 trillion by fiscal year 2027-28.
This comes amid favourable trends in manufacturing and growth in priority sectors, said Bain & Company, in a report titled, ‘The Trillion-Dollar Manufacturing Exports Opportunity for India.’
The six sectors driving export growth will be chemicals, auto, electronics, pharmaceuticals, textiles and industrial machinery.
The electronics sector is expected to see the highest compound annual growth rate (CAGR) of 35-40 per cent till FY28. This would be followed by chemicals at 19-23 per cent and industrial machinery at 18-20 per cent. Automotive is another key sector and is
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