Is Make in India Failing? Is Growing Trade Deficit an Evidence?
Is the Growing Trade Deficit Evidence that Make in India is Failing? By: Vijay Sardana YouTube link: https://youtu.be/ZZ5ZzZhl3l8 The trade data point to a serious structural challenge for India's manufacturing ambitions: exports are growing, but imports are growing faster. The central question is whether India is building domestic manufacturing capabilities as fast as its demand for goods, components, machinery, energy, and technology is growing. The September 2026 trade estimates and the Ministry of Commerce and Industry's press release dated 15 October 2026—provide a useful basis for examining this issue. They also reveal an important distinction: a growing trade deficit does not, by itself, prove that Make in India has failed. It does, however, raise questions about the depth, competitiveness and domestic value addition of Indian manufacturing. 1. What the attached data actually show: Overall trade position Indicator Apr–Sep 2025–26 Apr–Sep 2026–27 Change Merchandise expo...