India’s Economy to Transform in 10 Years with the ‘3-S’ Formula; Here’s How Make in India Will Shine

The '3-S' formula will make India an economic superpower in the coming 10 years: The world is looking to India today. A country once known solely for its services sector is now on its way to becoming a new manufacturing superpower. A population of 1.46 billion, a rapidly growing economy, and the zeal to "Make in India"—this is the new India.

Under the vision of Prime Minister Narendra Modi, the country is now standing at the turning point from which the next industrial revolution is about to begin. This time the story will be written with three letters—smartphone, semiconductor, and shipbuilding. That means India's '3-S' formula will play an important role in making India an economic superpower in the coming 10 years.

The world is recognizing India's strength

Pascal Daloz, CEO of France's Dassault Systems, said that in the coming times, India will give a new direction to the world. This "3-S" formula for India's progress includes three areas that will not only increase investment but also employment, exports, and self-reliance.

First S – Smartphones

Mobile phones are no longer just gadgets but have become the face of India's manufacturing revolution. Investments worth ₹40,995 crore have been made under the government's PLI scheme so far. As a result, mobile production has increased 28-fold and exports have jumped 127-fold in the last 10 years. Companies like Apple and Samsung are working to make India a global manufacturing hub.

Second S – Semiconductors

Chip manufacturing, the backbone of electronics, is now taking shape in India. Ten semiconductor projects have been approved under the ₹76,000 crore ISM scheme. This will not only reduce dependence on imports but also provide a real boost to "Digital India."

Third S – Shipbuilding

The maritime industry can become the new engine of India's economy. The government has launched three schemes—SBFAS, MDF, and SbDS—worth ₹69,725 crore. The goal is to establish three new shipbuilding clusters over the next five years, which will not only increase shipbuilding but also create millions of jobs.

The government claims that this "3-S formula" will not only make India a manufacturing hub but also boost employment, exports, and self-reliance. According to economic experts, "Let the crowding-in begin," meaning a new wave of investment has already begun.