India’s recent jump of 30 positions on the ease of doing business ranking by the World Bank is definitely a welcome trend. But still much has to be done; further cut in red tape, taking up challenging reforms and identifying and removing bottlenecks are just some of the steps which are needed to further cement India’s position as a lucrative and viable investment destination. A vibrant manufacturing sector is a must for a vibrant economy and budget 2018 provides the FM with a unique opportunity to further push for reforms and boost the manufacturing sector. In the past the government has stated that it wants and expects 25% of the India’s GDP to come from the Manufacturing sector by the year 2022, up from the current 16%. Also under the PM Narendra Modi's Make in India scheme the government expects that the manufacturing sector will create 10 crore jobs by 2020. Although in India the manufacturing sector has grown over the years yet the growth has been slower when compared to the rivals in the neighborhood. By 2020, it is expected that India will become the fifth largest manufacturing hub in the world. For India's manufacturing sector to compete and outshine the likes of China much work will be required by the government in the Budget 2018-19.
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