While addressing the audience at the Festival of Manufacturing 2024, Shri RK Singh, Union Minister of Power and New & Renewable Energy, Government of India, emphasised the imperative role of the manufacturing sector in transforming India's economy. The key highlight of his address revolved around the significance of the manufacturing sector in generating vast employment opportunities in the country.

Shri RK Singh reiterated how the past ten years have revolutionised the workings of this sector. He also attributed the accomplishment of the "Make in India" dream to excellent government initiatives which further helped in promoting the manufacturing sector.

Singh also reminisced about a time when growth in the manufacturing sector was impeded due to several factors, including stringent licensing policies, land acquisition impositions, credit problems, and financing costs. He elaborated on how relaxation in policies and regulations during the past 10 years has accelerated growth in India and how the idea of self-reliance (Atma Nirbharata) has taken center stage.

Furthermore, Shri RK Singh elaborated on how government initiatives have played an instrumental role in doubling the power generation capacity. With heavy investment in equipment and the establishment of 3,900 new substations, India has shown remarkable progress in the manufacturing sector. He also highlighted how India possesses one of the most powerful transmission systems in the world.

Talking about the initiatives his Ministry undertook under the Make in India campaign, Singh outlined a long-term vision of doubling the power capacity by 2030. Additionally, the goal in the next few years will be to add more substations and transmission lines.

The Minister for Power and New & Renewable Energy also mentioned certain challenges for the government to further accelerate growth in the manufacturing sector. He highlighted how importing equipment must pass through strenuous processes. Moreover, the cost of storage needs to be reduced for sustainability in the power sector.

Lastly, he articulated how India needs prudent fiscal policies to lower the inflation rate. He also focused on the need to create products that meet stringent quality standards to be able to compete globally. Additionally, the Minister also propagated the idea of marketing products at competitive prices and fostering innovation in technology, along with collaboration with global markets, to reach new heights. Concluding his address, the Minister said, "the dream of "Make in India" has become a huge success globally," and the manufacturing sector plays a pivotal role in contributing to India'sA