Make in India: The Strengths and Possible Outcomes

Author(s):

Dr. Alka Singh Bhatt; Prabal Narain Muttoo; Gaurav Shukla

Published in:

HCTL Open International Journal of Technology Innovations and Research (IJTIR), eISSN: 2321-1814

Published on:

31-May-2016

Volume:

Volume 20, Issue 1, May 2016, ISBN:978-81-932623-0-6.

Copyright Information:

© 2016 by the Authors; Licensed by HCTL Open, India.

License Information:

This article is an open-access article distributed under the terms and conditions of the Creative Commons Attribution 4.0 International License.

Abstract

The very recent and ambitious campaign of Prime Minister, Mr. Narendra Modi aims to turn the country into a global manufacturing centre. Call for "Make in India" and subsequent announcement of various enabling measures created an atmosphere of hope that economy, particularly manufacturing, will be given a new boost. Make in India is a platform in itself for India to transform its manufacturing sector. People and people alone remain the most important catalyst of any process, idea, practice, policy or whatever may be the fundamentally essential factors responsible for the growth and economic well being of a country. The contribution of manufacturing with respect to the GDP stands at 17 per cent. Since the announcement of "Make in India" campaign by the Prime Minister coupled with his foreign tours, the overseas investment is sure to increase over the next few months. Inherent problems of India‘s societal setup might turn up as a hindrance but are generally, not to be taken as a major cause of concern. Rising demand in India, jointly with the desire of the multinational's to diversify their domain of production to incorporate setups in countries other than China, could together assist India's manufacturing to grow significantly by 2025. The government today is concentrating on achieving its prime task of creation of policy oriented infrastructure in tune with the objectives of Make in India. In this paper an attempt has been made to see the plausibility of employment potential of the Make in India initiative and suggestions have been made to improve the prospects of this policy. An attempt is also made to suggest basic measures, at the fundamental level to convert mere promises to investments and to achieve exceptional results of achieving the target of 25% contribution of manufacturing vis-a-vis the G.D.P. Make in India has to tackle a few inherent challenges of the Indian societal setup in the long run. The goal needs a thrust that is unique and it would only be possible through adressal of key issues in the sectors which were once thought to be non-allied. The acceleration in terms of growth in the manufacturing sector needs a catalyst.


Keywords

Make in India, Manufacturing Sector, Gross Domestic Product, Allied Sectors, Employment, Societal Challenges, Strengths, Possible Outcomes.

Cite this Article

Dr. Alka Singh Bhatt; Prabal Narain Muttoo; Gaurav Shukla, Make in India: The Strengths and Possible Outcomes, HCTL Open International Journal of Technology Innovations and Research (IJTIR), Volume 20, Issue 1, May 2016, e-ISSN: 2321-1814, ISBN (Print): 978-81-932623-0-6.

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