The Gross Value Added (GVA) from the manufacturing sector is estimated at US$ 390.84 billion in FY18PE. In April-June quarter of 2018-19, manufacturing sector's GVA at basic price increased 13.5 per cent year-on-year. During 2017-18, Index of Industrial Production for manufacturing sector grew 4.50 per cent. India's Index of Eight Core Industries advanced 4.2 per cent year-on-year during 2017-2018. Nikkei Manufacturing sector PMI of India stood at 52.20 in September 2018 indicating an expansion in the manufacturing sector. The Government of India has been supportive towards this growth.
The electronic goods industry is one of the fastest growing industries and is expected to be worth US$ 400 billion by 2020. Government is working on an export-oriented policy for Electronic products. The idea behind this policy is to promote greater exports of electronics and drive larger investments by setting up port-based electronic manufacturing clusters. Also, Ministry of Electronics and Information Technology is going to come up with a new electronics manufacturing policy and is in process of setting up industry-specific groups.