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Monday, August 3, 2015

"Make in India"



When the current Prime Minister talked about the need to create a programme to boost manufacturing in India, it was seen as just yet another speech from the Red Fort from yet another politician to pacify people who were reeling under tremendous pressure from slowdown in the Indian economy. 

After 3 months of the announcement, DIPP organised a workshop that was attended by the PM along with his cabinet and several state Chief Secretaries to showcase the seriousness of his commitment towards making India a self-reliant country in the manufacturing domain.

The major objective of this initiative is skill enhancement and job creation in 25 important sectors including Automobiles, IT and Railways.  The initiative aims to increase GDP and revenues from taxation as well as  creating an impact of Indian craftsmanship on the world.

To propel this initiative, foreign equity caps in various sectors has been increased by the government along with the validity of license which has been increased to 3 years.  The FDI in Defence sector was increased from 26% to 49 % to decrease the military imports so that companies would find it easy to invest in this particular sector. India is amongst the largest buyer of Military equipment’s in the world.

Companies like Spice, Huawei, Hitachi, etc. have shown their inclination and committment to invest in India.   It is predicted that approximately 300 million people will join India's workforce between 2010 and 2040 and the country requires 10 million jobs every year to accommodate the work force. It is perceived that this initiative by the Prime Minister will be able to generate approx. 100 Million Jobs by 2022. 

The move if strategically implemented, will not only augment the purchasing power but also help in reducing poverty and curbing brain drain. For this the major policies needs to be overhauled like ease of doing business, single window clearance, ease of policies, and the most important issue is to curb red tapism. I am glad that the Government is "Walking the talk" and trying to create a policy framework that will make a difference in how India attracts FDI. 

The vision, if correctly implemented, can once again put India on the world Map as one of the most competitive manufacturing markets in the world. With more than 120 Crore people in the country, the median age of India's population  is 28, than that of  China and Japan at 37 and 44  respectively, according to data from global market research firm Euromonitor. The "make in India" campaign has the potential to harness the capabilities of this huge population and offer "gainful employment" to the employable. 

If rightly channelized, this campaign has the potential to become PM's secret  weapon for the next election.

9 comments:

  1. This comment has been removed by the author.

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    1. Yes the vision is right, but the right will only happen if things on the ground move. The Government has spent the last 12 months correcting the bureaucratic & policy paralysis. But the time for taking concrete action has come. If the vision of "Make in India" is to succeed then the next 6 months are crucial otherwise it may be too late. As they say " there is many a slip between the cup and the lip"

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    2. sir, he cannot transform the entire nation in just 1 year. but i totally agree with you that the next 6 months are crucial and will decide the fate of the nation .

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  2. PM's "Make in India" concept is a good initiative for the manufacturing sector and will create job opportunities. But we are witnessing major gaps between investment policy at state and central levels. Currently, many states are growing faster than other states, because they are collaborating with the Central Government initiatives – Gujarat, Madhya Pradesh and Uttarakhand are good examples of this. On the other hand there are states like West Bengal where not many companies want to invest, due to barriers of politics and ideology. The program can only succeed if there is total commitment from states and the centre and the centre does not focus on only states where they are in power, and look at the country as a whole. Development is needed across the country. Jobs are also needed across the country and possibly lesser in number in already developed states. This can also be another way to stop migration, if we have more jobs available locally, why would anybody migrate?

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    1. Mr singh, the state and centre should be in sync with each other to maximise the reach and impact of this initiative. political ideology and vote bank should not create hindrance in overall well being of the people

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  3. The "Make in India" campaign can't be a secret weapon until and unless the implementation of the projects are put in place. There is often a gap between what is being publicised and what is finally established. The government should focus on realising the goals that have been set-up as the basis of the campaign.

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    1. Ms Jain, we indians have to understand that the path to our destination is not always a straight one. We go down the wrong road, we get lost, we turn back. Maybe it doesn't matter which road we embark on. Maybe what matters is that we embark. a(famous quote from Barbara Hall)

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  4. If, and it is a very big IF, the NaMo government delivers even 5% of what is promised in this campaign, then there is a huge possibility of this government beating Jyoti Basu's record...

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  5. though goals are important, having a plan of action is vital to the success of those goals. Having a goal with no plan of action is like wanting to travel to a new destination without having a map.”
    ― Steve Maraboli, Life, the Truth, and Being Free

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