Centre Working On 'Rapid' Mission To Supercharge Manufacturing

The Union government is joining forces with industry leaders to launch a groundbreaking manufacturing mission, Mint reports.

The initiative, called Rapid — Research, Analysis, Programme Implementation, and Data Intelligence — aims to boost local value addition in manufacturing while encouraging private sector innovation and R&D.

“Key sectors like automobile, electronics and electronic components, medical devices, drones, defence aerospace and space will receive special attention under the Rapid programme," Mint cites an anonymous official. According to officials, the Rapid programme is set to create an innovation-driven manufacturing ecosystem in India.

This new mission is being launched as manufacturing’s share in the Indian economy remains at 17 per cent, up from 14.4 per cent in FY21, yet still short of the 25 per cent target set for 2025. The government sees a shift from agriculture to manufacturing and exports as vital for raising wages and fueling economic growth.

To reach a $5 trillion economy by FY28 and achieve $2 trillion in exports within six to seven years, the government is emphasising a massive scaling of manufacturing. The mission will set three-tiered goals: short-term (two years), mid-term (five years), and a long-term decadal strategy.

An R&D scheme under Rapid has already been approved by key government departments, with further discussions ongoing across various ministries.

Rapid is housed under India’s existing Steering Committee for Advanced Local Value-Add and Exports (SCALE), led by Pawan Goenka, former CEO of Mahindra & Mahindra and current chairman of In-Space, India’s nodal space body.

To bring Rapid to life, a sector development and selection framework will be presented to central ministries, along with proposals for policy reforms and stakeholder incentives. SCALE will then identify new focus sectors, followed by the creation of a national action plan to advance these areas.