A Quick Walk through one of India's most Significant Investment Campaign : Make in India

By - CEM Team

‘Make in India’ is the Indian government’s most ambitious plan yet. The government has spent immense time, energy and resources to market the opportunities the program has to offer on the global platform. Here’s a look into India’s most eye-grabbing development campaign in recent history:

‘Make in India’ is an international marketing campaign, controlled by the Central Government of India, with an aim of attracting businesses from around the world to invest and manufacture in India. The policies that constitute this grand scheme are efforts to ease and improve existing methods of functioning rather than creating drastically new ones to radically transform India’s lucrativeness as a business destination. The World Bank’s Ease of Doing Business Index, for example, is a scale that the current NDA government takes very seriously, evident from the fact that the government has repeatedly spoken about how it was working towards improving the figures that make up the rank on this index. India ranks 130 in the World Bank’s Ease of Doing Business Index in 2016, showing remarkable improvement from 142 in
2015.


Source: bharat-rakshak.com

Additionally, 25 key sectors, which include Roads and Highways, Construction, Defence, Automobile, Food processing, Renewable Energy, Information Technology, Aviation, Leather, Space, Biotechnology, Media, Entertainment, Textiles, Garments, Chemicals, Mining, Thermal Power, Construction, Oil, Gas, Tourism, Hospitality, Pharmaceuticals, Wellness, Electrical Machinery, Ports and Electronic Systems have been targeted for policy formulation and growth.

India faces a need to scrap archaic laws, an intent of which is seen in the Indian administration’s mode of governance. So far, clearing red tapes and raising FDI caps wherever necessary have been given focus.

The 100 smart cities project brings along with it the challenge of affordable housing on a scale that is unprecedented, the kind of demand and opportunity that could bring investors’ funds into manufacturing in India.

The government has, also, very strategically, acted towards the divestment of PSUs, with inefficient and loss incurring ones being sold off to private players.
Currently, manufacturing contributes to 15% of India’s GDP, a number that is expected to increase to 25% by 2022 as a consequence of a successful ‘Make in India’ campaign.

‘Make in India’ is as important to India as it can potentially be for foreign investors across the globe, which is why the campaign is not expected to fade out in terms of momentum or policy formulation. It can accelerate job creation, boost the national economy, make India self-reliant, and give the Indian economy global recognition. At a time when India’s bureaucracy needs to give a push to growth in the country, a campaign like this could enable shorter and easier processes for investors and responsible and accountable functioning from the system, signs of which can be found in the government’s decision to set up a dedicated ‘Make in India’ help team and an online portal to address queries and suggestions.

The results have been positive so far, with India seeing $19.7 billion FDI from 12 countries in 2014-15. The FDI influx has grown 48% after the Make in India campaign has been launched. India’s brand value has increased 32%, pushing the country up to rank 7, on the verge of beating France.


Source: The Hindu

Indian Prime Minister Narendra Modi’s confidence and trust in the roaring success of his pet project is evident from the way he talks about it. When speaking about the campaign, he said “The symbol of a lion for Make in India has been chosen very carefully, because a lion cannot be stopped. We are confident that our journey to make India a global manufacturing hub cannot be stopped that too by our own rules and regulations.”