Honorable Prime minister, Shri Narendra Modi ji has always emphasized the Gandhian concept of ‘Be Indian, buy Indian’. During the year 2014, the Prime Minister, through his speeches has boosted Indian small as well as large scale industries and foreign investors to support the ‘make in India‘ movement wherein, there is a vision to make India a manufacturing hub for machinery and other components in India, itself. As opposed to the hype of FDI that is Foreign Direct investment, Hon’ Mr. PM put forward a concept of alternate FDI that is ‘First Develop India‘ so as to increase the opportunities of job creation, skill enhancement in India and export from India rather than India having to rely upon imports from other countries.
The Make In India movement was launched on 25th of September, 2014 that is, approximately 16 months back.The logo of the movement has been chosen to be a LION figurine that encloses a lot of symbolic mechanical parts stressing on the importance of manufacturing in India.
|Impact Of The Make In India Movement|
If jobs are created within our country, unemployment and poverty scenario would diminish and the average purchasing power of an average Indian family shall increase.The jobs shall be created for educated, uneducated as well as skilled people.The make in India movement is aimed at trying to explore the potential of as many as 25 sectors of Indian economy and focus on skill enhancement, as well.
Earlier the skilled labour were easily available in China and average wages were quite cheap. Now the scenario has changed over the past 20 years and investors are moving to other countries such as Vietnam, Philippines etc.India, too could avail this opportunity and offer services of its labour class.
The movement is hoping to attract technological investment and capital investment. The 25 sectors that are to be explored include the following:
Automobiles, Automobile components, Aviation, Biotechnology, Chemicals, Construction, Defense manufacturing, Electrical machinery, Electric systems, Food processing,IT and Business management, Leather, Mining, Media and entertainment, Pharmaceuticals, Ports and shipping, Railways, Renewable energy,Toads and highways, Spaces, Thermal power, Tourism and hospitality, Wellness and Textiles and garments.
The Government of India is taking steps towards relaxation and removal of certain rules and Foreign equity caps so that it becomes easier to do business in India for local manufacturers as well as multi-national companies. The entire process of applying for licenses has been made available online.Also, the validity of the Licenses has been increased to up to 3 years to avoid inconvenience of renewal of licenses to the investors.
However, our prime minister also encouraged high quality checks to manufacture fine quality goods that have minimal possible defects and have least possible deleterious effect on the environment. The tagline Zero defect, Zero effect explains the message in short.
Many Indian as well as foreign countries have shown interest in the movement and the ambitious step is a far sighted one and hopes to bring about a positive change for the Indian economy.
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