India is set to emerge as the third largest manufacturing center, according to Union Minister of Consumer Affairs, Food and Public Distribution,.

The Union Minister for Consumer Affairs, Food and Public Distribution, Mr. Pralhad Joshi, conveyed his optimism regarding India's path to becoming a global manufacturing center, highlighting its supportive environment, availability of resources, and energetic youth. During the inauguration of Hodek Vibration Technologies Private Limited's third greenfield site and the Lord Sri Rama Temple in the Belur Industrial Area of Dharwad, he remarked that since 2014, India has experienced remarkable growth in manufacturing under the guidance of Prime Minister Mr. Narendra Modi, transforming into a self-sufficient economy. He pointed out that India is gradually establishing itself among the top global producers, in competition with China and Vietnam, and has the potential to become the third-largest player. He also mentioned the increasing global demand for Indian talent, noting that countries like Germany are relying more on Indian youth to fill skill gaps. He encouraged locals to take advantage of emerging prospects bolstered by India's economic framework. Mr. Abhijit Khanvilkar, Director of Hodek, indicated that the new Dharwad facilities have created job opportunities for approximately 500 local residents, thereby addressing employment needs in the area. He further asserted that the new greenfield facility will promote industrial advancement in North Karnataka. He also highlighted Hodek's dedication to sustainability, referring to the launch of a 155 kWp rooftop solar power system at their Pune operations and eco-friendly practices at the Dharwad plant, which has attained ISO 14001 Environmental Management Certification. Previously, NITI Aayog's Chief Executive Officer, Mr. B.V.R. Subrahmanyam, emphasized the necessity for India's manufacturing sector to expand by 15% each year to contribute 25% to the GDP by the year 2047.