Make in India is an initiative launched by the Government of India to encourage multinational as well as national companies to manufacture their products in India .This initiative was launched by Prime minster Narendra Modi on 25th September 2014 .After the initiation of this program in the year 2015 India emerged as the top destination globally for foreign direct investment surpassing the United States of America and China.It is an initiative taken by the Modi government to ease and cheer up the manufacturing concern at domestic and international level to produce their products in India. With this move new avenues would be created in India which would attract capital and investment in India and would generate employment opportunities in India. The major and ultimate objective is the creation of jobs and enhancement of skills among the youngsters in 25 sectors of the economy. In the past foreign companies use to target the Indian labour class to carry out the manufacturing process in foreign countries and used to earn huge profits due to low cost . With this soon India would become the hub for manufacturing concern all over the globe to come and invest in India due to the availability of skilled and technical manpower at low cost . The investment would be done in almost all the sectors from electrical to electronics, from automobile to agriculture, satellite to submarine etc. The make in India Plan announcement was done by PM Modi at the Vigyan Bhawan in New Delhi to boost and promote the economy in the presence of top business concerns such as Mukesh Ambani, Kumar Mangalam Birla, Cyrus Mistry, Azim Premzi etc. Earlier if the investors were thinking also to make India as their investment land they used to face certain hurdles due to the policies, political situation and other external factors which used to act as a blockade and their mind used to shift to some other nation where they could explore their business. The P.M acknowledged this fact that India being ranked low in the ease of doing business by world bank has started actions to ease the environment in India to attract foreign investors to do business in India. This plan is working to invite top companies across the globe and top Indian companies who are doing quite well in their business ventures to invest and explore their business ventures in the Indian soil. P.M Narendra Modi has formulated a special cell in the Commerce Ministry named Invest India which would guide foreign investors in terms of regulatory and policy issues and assists them to obtain the clearances and to complete the obligations in carrying business in Indian land.
Make in India focuses on the following 25 sectors of the economy .(a) Automobiles (b)Automobile components (c)Aviation (d)Biotechnology (e) Chemicals (f) Construction (g) Defence manufacturing (h) Electrical machinery (i) Electronic systems (j) Food processing (k) Information technology and Business process management (l) Leather (m) Media and entertainment (n) Mining (o) Oil and Gas (p) Pharmaceuticals (q) Ports and shipping (r)Railways (s) Renewable Energy (t) Roads and Highways (u) Space and Astronomy (v) Textiles and Garments (w) Thermal Power (x) Tourism and Hospitality (y) Wellness . As per the new government policy 100 percent FDI is permitted in above sectors except for space 74 percent and defence 49 percent and news media 26 percent. This is the most visionary economy alleviation plan of India. The main importance of this plan is to boost the manufacturing sector of India. The main focus is to increase the GDP of India. The main Key factors of this initiative is as (a) The programme is destined to increase and facilitate Foreign Direct investment in India and convincing Indian and foreign companies to produce their goods in India (b) This would help in creation of new employment opportunities and would lead to better employment conditions (c) It would attract the flow of foreign capital in the Indian economy . (d) It would create a demand of skilled and trained people in specific sectors to satisfy the demand for well equipped manpower in different sectors of the economy. (e) This programme is helping to improve the brand name of India in the international arena of the earlier business constraints that the foreign investing giants used to face which use to restrict the flow of foreign capital in India.
India is a country which is rich in natural resources. But the irony is that we as a nation are not able to extract those resources judiciously so that we could develop our manufacturing belt like China, Germany and other western countries. The vision behind this initiative by our P.M is to use India’s own potential to develop its industrial sectors. Labour is plenty and skilled labour is easily available due to the high rates of unemployment in the educated class of the country. With Asia becoming the manufacturing hub India will soon become the preferred manufacturing destination of most investors across the globe. The areas where we should improve ourselves are some of our rigid policies and regulations and the labour laws in the country which are not conductive to carry business in India. India ranks low on the ease of doing business and we need to improve this if we have to make this mission and campaign successful. Make in India is an initiative taken by the Modi government to boost the Indian economy and the long term vision is to make India an industrially developed nation. So we can conclude that Make in India is not a brand nor it is a slogan it is a new national movement as it covers the whole spectrum of our government, society and business.
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