Narendra Modi has completed his two year tenure propitiously and has taken many initiatives which India always dreamt of. One of these handles is “MAKE IN INDIA “initiative.
It is an initiative launched by Prime Minister, Mr, Narendra Modi in 2014 to galvanize multinational as well as national companies to manufacture their products in India. Gandhi Ji said “Swadeshi is the only doctrine consistent with laws of humanity and love“. Though Make in India is not exactly what Gandhi Ji did but serves the same ulterior motive and works on the ideologies of our predecessors.
This initiative covers 25 sectors mainly increasing threshold limit of FDI to 100 % in these sectors except for space, defence and news media and is working towards the desideratum of zero electronic imports by 2020.The ultimate intent of this endeavour is to make India a renowned manufacturing hub for key sectors. Companies across the globe would be invited to make investment and set up factories and expand their facilities in India and use India’s highly talented and skilled manpower to create world class zero defect products thus increasing employment, investment and country`s fortune manifold times.
To quicken the achieval of objectives multiple programs have been launched or are to be introduced in the upcoming tenure. For instance, Individuals aged 15-35 years would get high quality training in the following key areas such as welding, masonries, painting and nursing to help elder people, skill certifications would be given to make training process, a standard. Currently manufacturing in India suffers due to low productivity rigid laws and poor infrastructure resulting in low quality products getting manufactured so the laws are made less obdurate and more amiable. Along with this over 1000 training centres would be opened across India in the next 2 years and to promote and provide sustenance to companies setting up factories, “Invest India” unit is being set-up in the commerce department which would be available 24/7. Furthermore, the e-biz portal would be soon launched which would be real time and will be accessible 24/7.
Indian economy has grown a lot from agrarian economy to a manufacturing economy and “Make in India “is one initiative which will help it to reach its aim of a developed economy. This initiative is sure to augment the pace of rigorous process of prosperity and growth.
This initiative emphasizes on advancement of labour intensive manufacturing sector which would impliedly result in an escalation in employment thus reducing poverty and expansion of consumer base industries. Along with these it will surely help in achieval of aim of National Manufacturing Policy i.e. rise in share of manufacturing sector to GDP to 25 % by 2022.
The policy of “look east and link west “will strengthen the industrial linkages as well as bilateral ties with many countries. Owing to 100 % FDI limit and a little ease in processing of foreign development is sure to attract lot of foreign wealth and make BOP favourable. Along with this it is certain to bring in a lot of technical and creative expertise to the economy.
In January 2015, the Spice Group said it would start a mobile phone manufacturing unit in Uttar Pradesh with an investment of 5 billion, the President & CEO of Samsung South Asia, met with Kalraj Mishra, Union Minister for Micro, Small and Medium Enterprises (MSME), to discuss a joint initiative under which 10 “MSME-Samsung Technical Schools” will be established in India and in February 2015, Hitachi said it was committed to the initiative. It said that it would increase its employees in India from 10,000 to 13,000 and it would try to increase its revenues from India from ¥100 billion in 2013 to ¥210 billion. As a result of this initiative many other big names like Xiaomi, Lenevo and Qualcomm have invested in India thus showing the success and capability of the program itself.
But we also need to look at the other side of the coin, the movement will increase environmental deterioration, foreign dependence and the small industry is bound to suffer and in case of any policy against the provisions of WTO, it is bound to face rigid consequences.
Whether its motive or execution this initiative is quite on the right path and is sure to add worth to the economy. Though the plan has some flaws but as the saying goes “Everything has its own cost“. Decision making is always weighing the pros and cons and choosing the best and here, pros easily outweigh the cons thus making it an credible initiative.
And I would like to desist saying –
Good intentions. Right emphasis. Let’s hope the execution follows the intent.
By Milandeep Bhatia,
Writer – DU Times