Make In India
"If we have to put in use the education, the capability of the youth, we will have to go for manufacturing sector and for this Hindustan also will have to lend its full strength, but we also invite world powers. Therefore I want to appeal all the people world over, from the ramparts of the Red Fort, come, make in India, come, manufacture in India. Sell in any country of the world but manufacture here. We have got skill, talent, discipline, and determination to do something. We want to give the world a favourable opportunity that come here, come, make in India…
Over the past several decades, the globalization of the manufacturing ecosystem has driven more change and impacted the prosperity of more companies, nations and people than at any time since the dawn of the Industrial Revolution. Nations around the world have taken part in and benefited from the rapid globalization of industry and expansion of manufacturing. Globalization of manufacturing has been a key driver of higher-value job creation and rising standard of living for the growing middle class in emerging nation economies. The Government of India has taken a number of steps to further encourage investment and improve business climateIn Manufacturing . Make in India‟ mission is one such long term initiative which will help to realize the dream of transforming India.
The make in India initiative started by government of India helps to facilitate investment, foster innovation, enhance skill development, protect intellectual property, build manufacturing infrastructure. For contribution of at least 25% of GDP by 2022 in manufacturing sector growth should be 12-14% Per annum higher than the GDP rate.
The share of manufacturing in India’s GDP has stagnated at 15-16% since 1980 while the share in comparable economies in Asia is much higher at 25 to 34%
The advancement of manufacturing capabilities is directly linked to increasing economic prosperity for a nation and its citizens. Proper positioning and movement within the product space determines the ability to accelerate economic development. Emerging nations should focus on directing policy and investing resources in building capabilities and in product groups
Conclusin : India has the capability to push its manufacturing contribution to GDP to 25% by 2025. Government has to act as the central pivot of aligning industries, private companies, public sectors and all stakeholders in realizing this vision. Government has to put policies in place be it sector reforms, labour reforms or the elimination of business barriers. The Government of India has taken a number of steps to further encourage investment and improve business climate. „Make in India‟ mission is one such long term initiative which will help to realize the dream of transforming India into a „manufacturing hub‟. Hon’ble Prime Minister’s call for „zero defect and zero effect‟ manufacturing resonates well with our industry as we grow and produce for the world. India’s expanding economy offers equal investment opportunities to domestic entrepreneurs and international players. It is our responsibility to leverage emerging economy.
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