'Make in India' Belied Expectations; Private Investment Boom Didn't Happen, Job Growth Missing: Congress

Congress Criticises 'Make in India' After 12 Years

The Congress on Friday, September 25, 2026, criticised the performance of the Centre's flagship 'Make in India' initiative as the programme completed 12 years since its launch.

Congress general secretary in-charge of communications Jairam Ramesh said the initiative had "significantly belied" the hopes and expectations associated with it. He argued that the anticipated increase in private investment had not materialised and that broad-based employment growth remained inadequate.

Jairam Ramesh Cites Manufacturing Growth Data

Ramesh shared a detailed thread on X examining India's manufacturing performance over the past 12 years.

According to the data cited by him, both Gross Value Added (GVA) and the Index of Industrial Production (IIP), using both old and new statistical series, indicated that manufacturing growth had more often than not been slower than overall economic growth.

Ramesh said this meant that an additional manufacturing growth boost attributable to 'Make in India' was not clearly visible in the data.

Congress Says Private Investment Boom Did Not Materialise

A central part of the Congress criticism is the level of private-sector investment.

Ramesh said the expected private investment boom had not happened, arguing that government spending and policy initiatives had not translated into the scale of private investment that the programme was expected to generate.

The claim is a political assessment by the Congress and should be distinguished from independently established conclusions about the overall impact of the initiative.

Job Growth Also a Major Concern

The Congress also raised concerns about employment.

Ramesh said broad-based jobs growth was missing, linking the concern to the performance of manufacturing and the wider economy. The party has argued that stronger manufacturing expansion should have translated into more large-scale employment opportunities.

These statements represent the Congress's assessment of the initiative's outcomes.

What Is 'Make in India'?

The 'Make in India' initiative was launched on September 25, 2014.

Its stated objectives include facilitating investment, encouraging innovation, developing world-class infrastructure and positioning India as a global hub for manufacturing, design and innovation.

The programme was intended to strengthen India's manufacturing ecosystem and encourage both domestic and international investment.

Government Highlights PLI Investment and Jobs

Government policy documents point to developments under newer manufacturing-linked initiatives.

According to NITI Aayog, the Production Linked Incentive (PLI) scheme, launched in 2020 and covering 14 sectors, had 806 approved applications as of the cited period. By March 2025, the government body reported around ₹1.76 lakh crore in realised investments, participant sales of more than ₹16.5 lakh crore, and more than 12 lakh direct and indirect jobs generated under the scheme.

These figures are cited by the government as evidence of progress in domestic manufacturing, investment and employment, although they relate specifically to the PLI programme rather than representing the entire 'Make in India' initiative.

Manufacturing Performance Remains a Key Debate

The competing assessments highlight a broader debate over India's manufacturing strategy.

The Congress has focused on the pace of manufacturing growth, private investment and employment, while government policy documents have pointed to investments, exports, infrastructure and jobs generated through schemes such as PLI.

The available assessments therefore depend partly on which indicators, time periods and policy programmes are included in measuring the outcome of India's manufacturing push.

Public Investment Has Increased

NITI Aayog has also highlighted the increase in public capital expenditure over the past decade.

According to its assessment, public capital expenditure increased from about ₹4.5 lakh crore in FY2016-17 to ₹15.5 lakh crore in FY2025-26. It also cited expansion in national highways, metro networks and dedicated freight corridors as infrastructure outcomes associated with higher public investment.

The debate is therefore not about whether investment has taken place, but about the extent to which public investment and manufacturing incentives have translated into sustained private investment and broad-based employment.

Wider Economic Debate

The Congress's latest criticism comes amid continuing political debate over India's manufacturing competitiveness, employment generation and investment climate.

While the Opposition has argued that the results have fallen short of the expectations created in 2014, government-backed data points to significant investment and job creation through targeted manufacturing schemes.

The long-term impact of 'Make in India' continues to be assessed through indicators including manufacturing's share of economic output, capital expenditure, private investment, exports, productivity and employment.

Key Takeaways

• 'Make in India' was launched on September 25, 2014.

• Congress leader Jairam Ramesh said the initiative had fallen short of expectations.

• Congress claimed the anticipated private investment boom did not materialise.

• The party also said broad-based job growth remained missing.

• Ramesh cited GVA and IIP data to question the pace of manufacturing growth.

• NITI Aayog has highlighted ₹1.76 lakh crore in realised PLI investments as of March 2025.

• NITI Aayog also reported more than 12 lakh direct and indirect jobs under the PLI scheme.

• Public capital expenditure has increased substantially over the past decade, according to NITI Aayog.

• The impact of 'Make in India' remains a subject of political and economic debate.