Success of ‘Make in India’admin
It is an established fact that since the industrial revolution took place, no country has become a major economy without becoming an industrial power first.
Over the past few decades, globalization and industrialization have accelerated at a rapid pace. Most importantly, the globalization of manufacturing has played a critical role in creating jobs and raising the living standards for the middle class in emerging national economies.
India is one of these emerging nations. It has performed well in the past two decades owing to its tertiary sector. To fall in line with the global patterns, the Government of India has launched the ‘Make in India’ program.
This article discusses the program, its impact, the pros and cons.
‘Make in India’ Initiative
Make in India Initiative is a strategy for expansion and growth; it also functions as an international marketing strategy. The idea was conceptualised by the Prime Minister of India, Mr Narendra Modi. The program was launched on 25th September 2014. The primary objective of this scheme is to attract investments from various businesses situated across the world, and through this process, promote the manufacturing sector of India and protect the intellectual property. This vision was manifested by the creation of skilled manpower for the overall growth and development of the country.
The campaign has the objective to create more employment opportunities for the people of the country and also attract Foreign Direct Investment (FDI). The Government has also formulated a National Manufacturing Policy, 2012 which aims to increase the share of the manufacturing sector from 16% to 25% of the Gross Domestic Product by 2022. Apart from this, it also aims to create 100 million additional jobs in this sector. The National Investment and Manufacturing Zones form an instrumental part in this policy. The basis of this policy is the principle of industrial growth in partnership with all the States.
The logo of the campaign is a lion’s silhouette, which is filled up with cogs. It is a symbol for depicting manufacturing, strength and national pride.
Objectives of Make in India
The campaign aims to fulfil the below-mentioned objectives:
Provide an impetus for innovation,
Enhance the development of skills,
Protect the intellectual property,
Build the best in class manufacturing infrastructure,
Make India digital,
Create healthy relationships with various countries,
Provide employment opportunities.