Consider the following statements regarding India’s manufacturing sector:

1. India’s manufacturing sector is expected to grow by 6.2% in FY25, primarily driven by the electricity and construction sectors.

2. The growth of India’s manufacturing sector is primarily hindered by domestic trade policies and lack of foreign investment.

3. India holds 2.8% of the global manufacturing share, compared to China’s 28.8%.

Which of the statements given above is/are correct?

The correct answer is option 3.

Key Points

•  India’s manufacturing sector is projected to grow by 6.2% in FY25, with the electricity and construction sectors driving growth. Hence Statement 1 is correct.
• India holds 2.8% of the global manufacturing share, compared to China’s 28.8%. Hence Statement 3 is correct.
• The growth of India's manufacturing sector is impacted by several factors, including geopolitical tensions, supply chain disruptions, and trade policies, not just domestic trade policies and lack of investment. Hence Statement 2 is incorrect.