Make in India

[Anagh Prasad]

MAKE IN INDIA

 

With an aim to project India as a top-class investment destination on the world map, the Prime Minister of India launched “Make in India” on 25^th September 2014 amidst much pomp and procession. The strategy incorporates the following important tasks and goals:

 

1.     Facilitate investment

2.     Foster innovation

3.     Enhance skill-development

4.     Protect intellectual property

5.     Build world-class infrastructure

 

The major objective behind this initiative is to focus upon the heavy industries and public enterprises while generating employment, empowering secondary and tertiary sector and utilizing the human resource present in India. The highlights and purpose of Make in India include making India a manufacturing hub and economic transformation in India while eliminating the unnecessary laws and regulations, making bureaucratic processes easier and shorter, and make government more transparent, responsive and accountable and a government emphasized upon the framework which include the time-bound project clearances through a single online portal which will be further aided by the eight-members team dedicated to answering investor queries within 48 hours and addressing key issues including labor laws, skill development and infrastructure.

 

Target Sectors:

 

Automobiles,Aviation,Railways,Ports,Construction,Defence Manufacturing,IT and BPM,Pharmaceuticals,Space,Textiles and Garments,Electrical Machinery,Media and Entertainment,Thermal Power,Biotechnology,Electronic Systems,Mining,Tourism and Hospitality,Wellness,Roads and Highways, Oil and gas, Chemicals, Food Processing

 

For the government policies regarding these sectors, please visit:

http://www.makeinindia.com/policies/

 

List of Investors so far:

Company	Investment Amount
Spice Group	Rs. 500 crore (~US$ 81,500,000)
Samsung	Rs. 517 crore (~US$ 84,260,000)
Lava	Rs. 500 crore (~US$ 81,500,000)

 

Perception

There also exist apprehensive viewpoints on the strategy. Some economists believe that the Make in India call from Narendra Modi's government does not suit the present world scenario. India is inviting investments so that the products could be exported but this might not be possible since the recession world over was still continuing. Instead of planning exports the need was to strengthen the domestic market, according to a few experts.

To make the domestic market strong wages and salary aspect must be taken care of so that people would be able to buy. The idea was to make India a labour-intensive manufacturing hub to use the local cheap and disciplined labour and replace China which was left with no more cheap labour.

Corollary of the policy was the need to invest in infrastructure and skill development and a disciplined labour force was required which was ready to accept lower wages and conditions at the work place and to facilitate this demand for amending the existing labour laws to make them flexible.

 

Indian economy has long been dominated by the primary sector and development in manufacturing has been little over the past few decades. The Prime Minister clearly has a vision of utilizing the potential of disciplined labor India promises to offer for mega projects in various important sectors of the economy, quite much on the lines of Chinese policies. License Raj is long over but bureaucratic inertia still persists across the economy. Giving more freedom to investors is nevertheless a big shift forward for many areas of manufacturing in India. In such a scenario, calling the initiative ambitious won't be an exaggeration.

 

Make in India has surely made an impact on the perception of Indian economy within months of inception. The country will find more answers to its actual effects only as time progresses.

Anagh Prasad

Executive, Economics Club IIT Delhi

 

 

 

[Sushant D. Bhosale]

Policies need to be made friendly to encourage young Entrepreneurs. I have noticed when I did only an enquiry for getting rented space for a establishing a manufacturing Unit in Pune, still its a dream process to establish and getting consistent labors available is also a difficult process.

 

  

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Regards,

Sushant D Bhosale.

[Samar Tyagi]

Among all sectors, job creation is highest and lucrative returns in Manufacturing Sectors. Unlike Service sector, which gives high return on capital, job creation is abysmally low. 

Agriculture is on ventilator and oxygen is pumped regularly in the form of loan waive, it need urgent attention. It is good to explore Make In India, what about Made In India. People who are already making in India, are left unattended. Farmers do not have even freedom to sell their products abroad and our own country. It is Govt. that will determine the price and quantity to be purchased. Even payments are delayed. There are huge arrears.Ask any sugarcane farmer in Uttar Pradesh, he will tell you the story of neglect by Govt. Result is 77 million cultivators have disappeared. Many have done suicide, many left this occupation and subsequent generations of farmers are keen to adopt new occupation other than farming. Continued neglect of Agriculture is a matter of shame for all of us and academia too that did not give adequate space to the voice of farmers and food growers of this country. 

Any way, it has been like his always. Days will not change. Farmers will change their occupation and their children will no longer be occupied in farming. 

Be ready to face bad days ahead!!

best

Samar  

Regards

Samar Tyagi

MA Economics

3rd Semester

Dept. of Economics

BHU Varanasi

Ph.- +917376649538 

[Adyasha Rout]

Making India is necessary for advancing to make in india