MAKE IN INDIA-WILL IT TRANSFORM INDIA INTO A MANUFACTURING HUB?
“Make in India” – the idea will make India a manufacturing hub The debate on the success of Make in India campaign attracted not only the economists, bureaucrats and politicians to weigh its pros and cons, but the top MBA colleges in India have also been fascinated with the project. Many MBA colleges have included ‘Make in India’ as one of the hot topics in their GD round in different forms in final admission round to test the ability of prospective students to analyse it from different perspective.
For points
- India is the 3rd largest growing economy of the world.
- India has an immense pool of opportunities with cheap labour and abundant resources.
- The export led manufacturing is definitely going to raise the economy of India and will benefit the country by exploring more job opportunities.
- “Make in India” campaign is a strong campaign that favours the growth of India if continued on the right track with the strong and transparent system.
Concerns-
- Poor infrastructure, roads, electricity are deferring the foreign investors to invest in India.
- India should focus more on development of energy resources and development of infrastructure. To fulfil the vision of Make in India the investment could be invited in these sectors.
- The necessity will be to do away with red-tapism and operational glitches to make the ‘Make in India’ campaign successful one.
Facts-
- “Make in India” is a realistic project which aims to increase the contribution of manufacturing in GDP to 25% from 16% as of now.
- With the launch of ‘Make in India’ campaign, India has already marked its presence as one of the fastest growing economies of the world.
- India is having the favourable demographic dividends for the next 2-3 decades and the cost of the manpower is less as compared to the other developed countries.
- India is a house of strong and responsible business houses operating with credibility and professionalism. These business houses have big contribution into the development of the Indian economy.
- India has a strong consumer market and is going to expand in the coming years.
- The strong technical and engineering capabilities backed by top-notch scientific and technical institutes are an added advantage to boost this campaign.
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Source - Edumyra
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