Essay on Make in India
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, Indian 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’ programme amidst the
crisis situation on 25" 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.Vedanit
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:
1. Reduce paperwork required for establishing companies.
2. Minimize the time required for government approvals.
3. 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 respond 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. 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. With the investments coming from the foreign
companies and growth in the manufacturing sector can raise the bar of the Indian
economy.