Make in India

Make-in-India book launch by Amit Shah, Honourable Union Minister of India

Make in India is a major national program of the Government of India designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property, and build best-in-class manufacturing infrastructure in the country. Launched by Prime Minister Narendra Modi on 25 September 2014, the primary goal of this initiative is to attract foreign investments and strengthen India's manufacturing sector.

Background

Prior to the launch of Make in India, the Indian economy was experiencing a slowdown in investment, particularly in the manufacturing sector. The initiative was proposed as a way to create millions of jobs and transform India into a global manufacturing hub. It focuses on 25 sectors of the economy which range from automobiles, aviation, and chemicals to IT and BPM, pharmaceuticals, construction, defence manufacturing, and textiles.

Objectives

The main objectives of Make in India include:

• Increasing the manufacturing sector's growth rate to 12-14% per annum
• Creating 100 million additional manufacturing jobs in the economy by 2022
• Ensuring the manufacturing sector's contribution to GDP is increased to 25% by 2022 (later revised to 2025)

Strategies

To achieve these objectives, the Government of India has deployed several strategies under the Make in India initiative:

• Ease of Doing Business: Simplifying and streamlining processes to make it easier for companies to set up and expand their manufacturing operations in India.
• Infrastructure Development: Building industrial corridors and smart cities to provide state-of-the-art technology and infrastructure.
• Skill Enhancement: Through the Skill India initiative, enhancing the skills of the workforce to meet the demands of various manufacturing sectors.
• Innovation and Research: Promoting innovation through the establishment of research parks, business incubators, and academic-industry partnerships.

Impact

Since its inception, Make in India has made significant progress in attracting foreign direct investment (FDI), with India emerging as one of the top destinations for FDI globally. The initiative has also led to the launch of several other complementary schemes like Digital India, Startup India, and Smart Cities Mission, which together aim to transform India into a digitally empowered society and knowledge economy.

Challenges

Despite its successes, Make in India faces several challenges, including bureaucratic hurdles, labor laws, and the need for further improvements in the ease of doing business. Additionally, the initiative must navigate the global economic slowdown and increasing protectionism in several countries.

Conclusion

Make in India represents a comprehensive and unprecedented overhaul of outdated processes and policies. It has set a clear direction for the future of manufacturing in India, aiming not only to attract foreign investment but also to promote sustainable economic growth and job creation. As the initiative moves forward, its success will depend on the continuous collaboration between the government, industry, and other stakeholders.

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