BJP Election Manifesto: Promise to create global manufacturing hub and world's third-largest economy

In the last three years, India has consistently maintained a growth rate of over seven per cent, while many other countries have encountered economic difficulties. This accomplishment also surprises all international agencies.

In addition to claiming full responsibility for the nation's current economic progress, the BJP published its manifesto for the general elections of 2024 on Sunday. In it, the party outlined the economic agenda of its potential government should it win.

BJP has said that in the next term, it will be made the third-largest economy in the world. There is mention of at least six such industries in which there is talk of developing India as a global manufacturing hub such as aviation, railways, electronics, pharmacy etc.

The indication that this manifesto of BJP gives about its future economic agenda makes it clear that there will be a lot of focus on manufacturing in their government. There are many such announcements which tell this. For example, for the first time, any party has talked about promoting and establishing India as a product manufacturing country.

In this sequence, there is a promise to make India a hub of electronics manufacturing by the year 2030. BJP has said that during its 10 years of tenure, electronics manufacturing plants worth a hundred billion dollars have been set up in India.

This manifesto sort of lays out the changes that are happening in different areas of the Indian economy. The ten-year-old party is more excited about the semiconductor, electric car, rare metal, and artificial diamond industries than it is about more conventional ones like steel and cement.

Recently, for the first time in India, the proposal to set up plants of three-chip manufacturing companies has been approved. For this, efforts were made at the level of PM Modi. Now the party has said that it will establish India as a global hub of chip and semiconductor manufacturing.

Similarly, it has been said to be established as a global railway manufacturing hub and as a manufacturing hub in the aviation sector. This seems possible in the aviation sector because the demand for aeroplanes is increasing rapidly in India itself. While launching the manifesto, PM Modi also said that recently an agreement for more than one thousand aircraft has been signed in the country.

It talks about simplifying economic laws and giving respect to the honest taxpayer. It is too early to say but it is believed that discussions are going on in BJP regarding providing relief to middle-class income taxpayers. However, such indications have been given earlier by PM Modi himself.