Make in India means to encourage foreign investment that brings the latest technology, broadens the realm of knowledge, and infuses research and development within the country.
In 2013, India was in a severe economic crisis when the emerging market had crashed and the growth rate had fallen drastically. The global investors were contemplating their investment in India.
Prime Minister Narendra Modi launched the ‘Make in India’ program amidst the crisis situation on 25th September 2014, which aimed at attracting foreign companies to set up factories in India and invest in the country’s infrastructure.
Vision
The ‘Make in India’ campaign aims at promoting India as a destination of foreign investments and a pivot for manufacturing, design, and innovation globally. The ‘Make in India’ initiative does not only target the manufacturing Sector but also aims at promoting entrepreneurship in the country.
This initiative further aims at creating a favorable environment for investment, modern infrastructure, opening up new sectors for foreign investment, and establishing a partnership between government and industry through a broader outlook.
The manufacturing sector currently contributes to 15% of the country’s GDP. The action plan of the mission is to raise the contribution to 25% of the GDP by 2020.
Symbol
A lion with a body made up of clogs inspired from the Ashoka Chakra Symbolizes the mission. The lion on the prowl in the logo stands for strength and power and the wheels on the body of the lion signify development and progress. Through this mission, the government took a big step to reduce the level of unemployment faced by the youth of the country.
This campaign was launched a day after the Mars Mission when the PM had to go on his first visit to the USA. The aim of launching this campaign was to raise the level of the manufacturing sector in India, which will definitely boost the Indian economy.
Guidelines and Policy for Make in India
The government laid new Guidelines to start the mission successfully. The main objective of the Guidelines was to sanction the projects that are approved by state governments. Some Guidelines are like:
-
Reduce paperwork required for establishing companies.
-
Minimize the time required for government approvals.
-
Abolish the Corporate Social Responsibility (CSR) from the project cost.
Policies have been made for convenient transfer of funds while switching jobs anywhere in the country. A cell was dedicated to responding to the queries for business entities through a web portal.
Sectors That Were Identified Under The ‘Make In India’ Mission:
There are twenty-five Sectors that were identified under this mission. It includes Automobile, automobile parts, aviation, biotechnology, chemicals, construction, defense production, electrical machinery, electronic systems, food process, IT and BPM, leather, entertainment and media, mining, oil and gas, pharmaceutical industry, shipping, railways, renewable energy, roads and highways, space, textiles and garments, thermal power, tourism and hospitality, wellness.
Benefits and Criticism
Labor and natural resources are available in plenty in India and that Makes it a preferred manufacturing destination. More job opportunities can be provided for the huge population.
The manufacturing Sectors will not only boost the trading Sector but also increase the GDP of the Indian economy. The opening of factories will contribute to the development of the rural sector.
This highly beneficiary initiative faces several challenges like rigid labor laws, red tape at providing environmental clearance for big projects, poor technology, and transportation system.
The increase in production leads to the growth in the economy of any country. Make in India campaign will provide a platform for many small entrepreneurs to grow and employment to a huge population. The investments coming from foreign companies and growth in the manufacturing sector can raise the bar of the Indian economy.
Is There Any Disadvantage Associated with the Concept of Make in India?
Every concept has some advantages and disadvantages associated with it. The Make in India concept is no exception as well. Since the campaign of Make in India demands a lot of industrial sectors and the development of technologies, the agricultural sector will be neglected because most of the Indian population earns their livelihoods through it. The development of industrial Sectors demands a lot of plots, water, and other natural resources. Currently, India is not in the position to allow the unnecessary depletion of natural resources in order to develop industrial Sectors.
Since plots are highly required in order to establish a particular industrial Sector, the industrialists will use the lands that are available for agricultural purposes. Moreover, the journey of the common business people and entrepreneurs will be halted.
With the development of industrial Sectors, the necessity to seek help from franchisees will also increase due to the requirement of funds. Only international private Sectors can arrange for a huge amount of funds to invest in and it will contradict the goals of the campaign itself. Also, there is a chance of increased pollution due to the development of industrial Sectors.
What is the Primary Importance of the Make in India Campaign?
The campaign can prove to be highly important for the growth of India as a country. To cope up with work pressure, the various industrial Sectors recruit young aspirants who are talented and in need of urgent jobs. The campaign will help India to build a strong reputation all over the world as a manufacturing hub and a lot of international private Sectors will show their interest to manufacture their own products in India. A lot of people will get the opportunity to develop their skills depending on the market trends as well.
But, to make the campaign even more successful, the government needs to take special care of the other Sectors apart from chemicals and aviation. A lot of research projects are undertaken by researchers in the field of chemistry and aviation. But the Make in India campaign is not particularly successful in terms of building the reputation of an efficient manufacturing hub.
What are the Major Challenges that should be Taken Care of in order to Make the Campaign Successful?
In order to Make a particular campaign successful, a lot of difficulties and issues should be addressed at the same time. India is a country where various political debates take place at times and this usually impacts the Industrial Sectors. A lot of people in India do not have the basic education that is needed to develop their skills and contribute to various kinds of industrial Sectors.
The people of India often face difficulties to carry out their tasks properly due to insufficient power supply. The infrastructure of various Industrial Sectors in India is not really developed and this hampers the workflow. The people of India often face other challenges as well like poor drainage systems in order to flush out the toxins of the factories. To Make any particular campaign successful in India, the government must take remedial steps at once.
What is the Importance of Having Knowledge of the Make in India Campaign?
It is highly important for the students and the common people to remain updated about the latest occurrences that are taking place and are considered highly important in terms of the growth and development of the nation. The students who are appearing for their class examinations may need to answer some questions regarding this topic.
The students are often asked to deliver a speech on one of the important topics like this. They are often asked to write essays. In order to write a particular essay, the students need to have at least some basic information on the topic. To know more about such campaigns, the students should build the habit of reading newspapers and following the latest blogs and articles published on the websites.
There are various articles published on the website of that deal with different topics and social awareness movements. There are also some reference books available on the website that can provide them with the key concepts in detail so that they can develop their thought process and rational thinking ability depending on that.