Make in India - The Way AheadMAKE IN INDIA - INTRODUCTION The Make in India initiative was launched by Prime Minister in 25 September 2014 as part of a wider set of nation-building initiatives. Devised to transform India into a global design and manufacturing hub, Make in India was a timely response to a critical situation. By 2013, the much-hyped emerging markets bubble had burst, and India’s growth rate had fallen to its lowest level in a decade. The promise of the BRICS Nations (Brazil, Russia, India, China and South Africa) had faded, and India was tagged as one of the so-called ‘Fragile Five’. Global investors debated whether the world’s largest democracy was a riskor an opportunity. India’s 1.2 billion citizens questioned whether India was too big to succeed or too big to fail. India was on the brink of severe economic failure, desperately in need of a big MAKE IN INDIAMake in India was launched by Prime Minister against the backdrop of this crisis and quickly became a rallying cry for India’s innumerable stakeholders and partners. It was a powerful, galvanising call to action to India’s citizens and business leaders, and an invitation to potential partners and investors around the world, But Make in India is much more than an inspiring slogan. It represents a comprehensive and unprecedented overhaul of outdated processes and policies. Most importantly, it represents a complete change of the government's mindset — a shift from issuing authority to business partner, in keeping with Prime Minister's tenet of ‘Minimum Government, Maximum Governance’. ABOUT LOGO - rae The logo is the silhouette of a lion on the prowl, made entirely of cogs, symbolising manufacturing, strength and national pride. The national emblem, Ashok Chakra, also has four lions. in indian folklore, the lion denotes the attainment of enlightenment, besides representing power, courage, pride and confidence.PROCESS OF MAKE IN INDIA Make-in-India-Reflection! “Make in India” recognizes an ongoing global campaign andease of doing business are the two important factors to give a boost to entrepreneurship not only in the manufacturing sector but also in other sectors. "Zero Defect Zero Effect” slogan emphasizes on production cycle. It means that producing goods with zero defect and there should be no adverse effect on the environment. Wieden Kennedy designs the campaign with the launch of a portal ‘and the brochures in different sectors. Norms and procedures regarding the manufacturing application are now available online. And validity o licenses increases to three years. In the event at Mumbai Metropolitan Region Development Authority ( MMRDA), around 2500 international and 8000 from domestic, business team from 72 countries, 17 states of India and foreign govt. delegations from 68 countries have attended “Make in India Week”.The aim is to de-license and de-reguiate the industry during the entire life cycle of a business.CHALLENGES The “Make in India” Campaign is aimed at making India a manufacturing hub and the government is pulling out all the stops to make the investment smooth. The government has created a dedicated system to answer all the queries of business entities with 72 hours. This system will closely monitor all the regulatory system to make them simple and rational. The government has created a concept but the driving through this is not so simple. This concept will create several challenges for Indian Managers. The author of this paper has tried to disclose some of them below. Creating the Most Enthusiastic and Dedicated Team: The first and the most important challenge for the Indian Managers to make this campaign successful is to create the most enthusiastic and dedicate them. The mangers will have to identify the hidden talent in the staff members who can dedicatedly work on the projects. Creating a Health Business Environment: Creating a health business environment is perhaps another challenge for the business development. It has been observed that Indian managers have been ‘most stringent when it comes to innovation and development. Creating competitiveness of Indian manufactures goods:Creating competitiveness of indian manufactured goods is also a challenge ahead .[t is found that Indian products cannot sustain in the foreign competitive. To keep pace with technological development: Fast technological advancement would be the requirement of the future dates, The Indian managers will have to keep pace with technological developments taking place abroad. This is perhaps one of the challenges for them. ‘New competition from several countries of the world: The “make in India” campaign will create new competition from several countries of the world for the Indian managers. They will have to be ready to tackle this competition. Development of skills and Talents: Development of skill and talent in Indian managers and workers is another challenge. The managers will have to start skill development programs for the staff members. Development in the field of research and development: It has been observed that Indian enterprises are lacking in research and development. The foreign companies are more advanced in this field as compared to Indian companies. It will be challenging foe the Indian companies to make research and development speedier. Creating labour intensive technology: Creating labor intensive technology is another challenge against Indian managers. Since, India is a labor surplus economy, only the development of technology is not enough, but the labor intensive technology is required. if this isnot taken care of, it will increase unemployment India. Financial challenges: Financial challenges are also very important point to be considered. It has been observed that the Indian companies prove to be weaker than the foreign companies in terms financial consideration. The Indian managers are challenged to find out newer ways and means of generating finance.Creating competitive atmosphere for the employees: Creating competitive atmosphere for the employees is also required for the success of Indian enterprises in the competition of foreign companies.CRITICISM & CONCERN Through Make In India campaign, the government has till early October attracted INR 2000 crore worth of investment proposals. Labor reforms and policy reforms are fundamental to the success of the Make in India campaign. But it is observed that it has not yet been implemented. There are many technology-based companies are not pleased with in the campaign launch and to continue to get their components which are manufactured by China. ‘The Make in India campaign is built on layers of collaborative efforts. There has been from most of Union Ministers, Secretaries to the Government of India, state governments, industry leaders, etc. A National Workshop on sector-specific industries in December 2014 brought Secretaries to the Government of India and industry leaders together to debate and formulate an action plan for the next three years. they aim to raise the contribution of the manufacturing sector to 25% of the GDP in the coming yearsADVANTAGES & DISADVANTAGES India is a treasure of natural resources. Skilled and Unskilled Labour is easily available at lower rates as compared to the other countries. Due to its central location and outsourcing hub of the world, India is becoming the most preferred manufacturing destination for the investors across the world. The main motive of this initiative is to fulfill the demand and boost the Indian economy. On the other hand, India ranks low on the “ease of doing business index”. Labour laws are still not updated according to the Make in India campaign. This is one of the main disadvantages of manufacturing and investing in India. Here is a quick snap of the advantages and the disadvantages of the make in India:- Advantages + Develops Job Opportunities + Improves GDP + Strengthens the rupee «The brand value of Indian merchandise increases + Upgradation of technology+ Ease of business «The flow of capital changes + Development of rural areas Disadvantages + Negligence in the agriculture sector + Depletion of natural resources + The loss to small entrepreneurs + Bad relations with China + Disruption of landOBJECTIVE OF MAKE IN INDIA Consumers yO Authorities industries Government GST C Aud NOIR Following are the main objectives of “Make in India” Campaign. * Toget manufacturing sector graw over 100 percent on sustained basis. © Tomake indiaa manufacturing hub for almost all manufactured goods. © Tobring inflow of foreign capital on large scale. © Togenerate employment opportunities for the Indian youth. © Tocreate inflow of modern technology in India. © To create inflow of labor intensive technology in India. * Totransform the economy from service driven growth © model ta manufacturing driven growth madel. * Tounveil investment opportunities for foreign Companies © Nils, Investment groups and Investment bodies. © Tocreate investor friendly environment in india ©» To make speedy infrastructure growth to create a strong * base for industrial development * Tomake easy licensing provision and speedy approval of the projects through online portals.* Tojntegrate all central government services with an e-biz window online portals. * Tosimplify and rationalize the regulatory atmosphere.SECTORS COVERED ‘The Campaign called “Make in India” launched by the PM Mr. Narendra Modi covers almost all the sector. The coverage of this campaign can be listed as follows. Automobiles Food Processing Renewable Energy Automobile Components IT and BPM Roads and highways Aviation Leather Space Biotechnology Media and Entertainment Textiles and garments Chemicals Mining Thermal Pawer ConstructionOil and Gas Tourism and Hospitality Defense manufacturing Pharmaceuticals Weliness Electrical Machinery Ports Electronic Systems RailwaysINFRASTRUCTURE SUPPORT To make the “Make in India” Campaign successful, the government has already created a healthy infrastructural facilities for the speedy development of manufacturing sector. Below given are the highlights of this infrastructure development: > More emphasize on the development of industrial Corridors and Smart Cities. > Anew “National industrial Corridor Developmen Authority” is being established to develop and supervise the Industrial Corridors. > Delhi-Mumbai Industrial Corridors, Dholera, Shendra-Bidkin, Greater Noida, Ujjain and Gurgaon are the five smart cities in progress. > Chennai Bengaluru industrial Corridor: Master Planning for 3 new industrial nodes viz., Ponneri, krishnapatnam, Tumkur are in progress. > The East Coast Economy Corridor is being commissioned with Chennai Vizag Industrial Corridor in its first phase. > North-Eastern part of the country is to be linked with other industrial corridors with the co-operation of government of Japan. > Development of new industrial Clusters for promoting advance practice in manufacturing.> Approval of 21 industrial project with the emphasize on use of recycled water through zero liquid discharge system and central Effluents Treatment Plants. Approval of 17 national investment and manufacturing zones. Creation of 1033 ports Further up gradation of IT facilities Application process made online Planned to train 144000 youth annually vVVvVVVY ‘These are just the highlights of the infrastructural facilities developed by the government. These are a lot more development made under this campaign.MANUFACTURING PROJECTS 7 eS) 717% hd om esa) foe cae « No.1 a 90% With this initiative, many manufacturing projects were started. Some of them are: + Pidilite Industries Ltd approves the acquisition of the adhesive business of Blue Coat Pvt Ltd for a cash consideration of Rs 263.57 crore (US$ 43.08 million). + Mr. Yoichi Lbi, president, and CEO of Toshiba Group plans to make India the design, manufacturing, and export hub for its lighting business. They also multiply the local headcount to design lights for planned smart cities airports, stadiums, highways, warehouses, and factories. + Deepak Nitrite Ltd (Chemical manufacturer) plans to invest a sum of Rs1,200 crore (US$ 196.18 million) in India. They plan to start a plant for manufacturing phenol and acetone in Dahej, Gujarat. + Sesa Sterlite will spend up to Rs 8,000 crore (USS 1.31 billion) to expand its Lanjigarh refinery in Odisha with the following consent from villagers in the next three to four yearsFOREIGN DIRECT INVESTMENT Foreign Direct Investment The investment climate in India has improved considerably since the opening up of the economy in 1991. This is largely attributed to ease in FDI norms across sectors of the economy. With an aim to attract and promote FDI, Government of India (Gol) has put in place a policy framework on FDI, which is transparent, predictable and easily comprehensible. India received record FDI of $223 Bn during 2014-18. Sectors such as Services, Computer software & hardware, Telecommunications, Trading, Construction attracted the highest FDI . Lottery Business including Government Private lottery, online lotteries etc. Chit Funds Trading in Transferable Development Rights (TOR) Manufacturing of Cigars, cheroots, cigarillos, and cigarettes (tobacco or tobacco substitutes) Gambling and betting including casinos © Nidhi Company © Real Estate Business or Construction of Farm HousesSectors nat open to private sector investments — atomic energy, railway operations (other than permitted activities mentioned under the consolidated FDI Policy) Foreign technology collaboration in any form including licensing for franchise, trademark, brand name, management contract is also prohibited for Lottery Business and Gambling and Betting activities Real estate business shall not include the development of town shops, construction of residential/ commercial premises, roads or bridges and Real Estate Investment Trusts (REITs) registered and regulated under the SEB (REITs) Regulations, 2014 .NEWS AND STATISTICS INDIA'S RANKING ON VARIOUS PARAMETERS IN WORLD BANK'S DOING BUSINESS 2018 REPORT STARTING A BUSINESS: GETTING ELECTRICITY (REGISTERING PROPERTY TRADING ACROSS BORDERS: ENFORCING CONTRACTS: RESOLVING INSOLVENCY The manufacturing sector is expected to reach US$ 1 trillion by 2025 and contribute about 25% to India's GDP. Under the Make in india programme, indigenous manufacturing is expected to increase by 12-14% per annum over the medium term. As per the World Bank, manufacturing contributed about 16% to the country's GDP in 2016. This is on the higher side when compared with the global average of about 15% in 2015.a z ° FDI Inflow: ss into India (USS Billion) 10 ° As : pvaerexs Fv20NEYe PY2qe17 FY20I7.18 EOE Ua atc Indian Prime Minister Narendra Modi was elected just over a y promising to jump-start the Indian economy. A look at how four of the country’s key in car ators have fared. Foreign Direct NIFTY" performance FOREX reserves Portfolio Investment Investment Claung price fr fiscal year Total reservea Total for calendar year 8491.00 $351 S424 Bion 204 pills sition $36.05 6,704.2 billion billion 5682.55 aati “ircian Natonal Stick Exchange benchmark ooen From ine Embassy of Inia, Washington D.CPTS CSCO UC TET Ce The DSP BlackRock India Investor Pulse Survey results reflect very high levels of optimism and positivity among Indian Investors EE 70, improving against a global Pron eka 21% ekenuk a ect) fJ-y% better against a global average Cates 22% Fastest Again IMF Sees strong recovery in india's economic growth {onthe rebound i ax ome Chl 4 2 “ 1 o ivi in 201 8OBJECTIVE OF MAKING PROJECT Purpose of Make in india? It is to make one of the most pollutant country india a cleaner country again. The Swachh Bharat Abhiyan, etc was all taken up to make india clean again. |, myself, have never seen someone in the country to take such initiative. | think the Make in India is a great act, it inspires people, be it Indians, or even people foreign to India. But the things, any act works, if the people actuaily want it to. Now I have seen people in my life who abuse ‘The Swachh Bharat Abhiyan’, now they think they are the cool type but it is the opposite, when someone takes the initiative to do something, you better respect that. They just abuse it and litter. | ask, not to them, but myself, What is the purpose of the act, what is the purpose of benefitting the people who are prone to, or are already suffering things such as Asthma, Bronchitis etc! Then again, its India, we do the opposite as the Government wants us to.do, and then, the same people comment on them saying, The Indian Government is corrupt. Such a pity.CONCLUSION ais = Make in Indig In this way, “make in India” Campaign is a great opportunities for indian economy, but at the same time it will pose certain challenges for the Indian managers. creating healthy business environment, development of skills, lack in research and development, creating labor intensive technology, increasing competitiveness of Indian manufactured goods, are some of the examples of challenges that the Indian manager will face because of the “make in India “ campaign Jounched by the prime minister Mr. Narendra Modi. If these challenges are tackled constructively, the growth of Indian economy will take a new pace.BIBLIOGRAPHY https://www.pmindia.gov.in » major_initiatives » make-in-india https://en. wikipedia.org/wiki/Make_in_India http.//www.makeinindia.com/about https://www.ibef.org/economy/make-in-india https.//economictimes. indiatimes.com/news/india- unlimited/make-in-india https://www.indiatoday.in/news-analysis/story/narendra-modi- government-nirmala-sitharaman-must-acknowledge-economic- slowdown-1594 747-2019-09-03