India, April 22 -- India's manufacturing story is entering a complex, but defining phase. In recent times, the sector has seen both momentum and friction play out in parallel. 

On the one hand, the government continues to double down on manufacturing-led growth - be it expanding the scope of the Startup India fund of funds scheme to include tech-driven manufacturing startups, or clearing 29 new projects worth over Rs.7,100 Cr under the Electronics Component Manufacturing Scheme (ECMS). Policies and capital are increasingly being aligned to support industrial innovation, and the push is only getting sharper. 

The approval of the Rs.33,600 Cr BHAVYA scheme to develop 100 plug-and-play industrial parks signals a clear intent to b...