India’s industrial transformation requires moving beyond investment quantity towards investment quality, strategic manufacturing, and sustained private capital mobilisation. Against the backdrop of Viksit Bharat 2047, the seminar examined why significant public capital expenditure, infrastructure development, and industrial policy reforms have not yet translated into the scale of private investment and manufacturing growth envisaged by policymakers. Discussions highlighted that the principal constraints are no longer capital availability or policy intent, but execution speed, regulatory efficiency, state-level implementation, and institutional capacity. Particular emphasis was placed on strengthening MSME integration, expanding long-term financing mechanisms, improving technology adoption, and attracting high-quality, technology-intensive foreign direct investment (FDI) that supports innovation, research and development, and integration into global value chains. Participants concluded that India’s next phase of industrialisation will depend on faster policy execution, stronger Centre–State coordination, export-oriented manufacturing, and a proactive, sector-specific investment strategy capable of translating enabling reforms into durable industrial competitiveness and economic resilience.