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MAKE IN INDIA - INTRODUCTION
The Make in India initiative was launched by The Prime Minister on 25 September 2014 as a
part of a wider set of nation building initiatives. Devised to transform 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 level 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 risk or an opportunity. India's
1.2 billion citizens questioned whether India was too big to succeed pr too big to fall. India
was on the brink of severe econoic failure, despreately in a need of a big push.
Make in India was launched by the prime minister against the backdrop of this crises
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
unprecidented overhaul of outdated processes and policies.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 tenent of 'Minimum
Government and Maximum Governance.'
ABOUT THE LOGO
'Make in India' recognizes an ongoing global campaign and ease 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 emphasis 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 brochures in different sectors. Norms and procedures regarding the manufacturing
application are now available onlice and validity of license increases to three years.
In the event at 'Mumbai Metropolitan Region Developmental Authority'
(MMRDA), around 2500 international and domestic, domestic teams 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- regulate
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 of all stops to make the investment smooth. The
government has created a dedicated system to answer all the queries of business
entities within 72 hours. This system will closely monitor all the regulatory systems
to make them simple and rational. The government has created a concept but
driving through this is not so simple. This concept will create several challenges for
Indian managers. Some of them are disclosed below:
Financial challenges:
Financial challenges are also a very important point to be considered. It has been
observed that the Indian companies prove to be weaker than the foreign comapanies in
the terms of financial consideration. The Indian mangers are challenged to find out
newer ways and means of generating finance.
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. Many technology-based companies are not pleased
with the campaign launch and continue to get their components whuch are
manufactured by China.
The Make in India campaign is built on layers of collaborative efforts. There has been
efforts from most of the Union ministers, Secretaries to the govt of India, State
governments, Industry leaders etc. A national workshop on sector-specific industries
in December 2014 brought secretaries to the govt pf 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 AND
DISADVANTAGES
India is a treasure of naturel resources. Skilled and unskilled labor is easily available
at lower rates as compared to other countries. Due to its central location and
outsourcing hub of 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.
DISADVANTAGES:
Negligence in the agriculture sector
Depletion of natural resources
The loss otosmall entrepreneurs
Bad relations with China
Disruption of land
OBJECTIVES OF MAKE IN
INDIA
Following are the main objectives of 'Make in India' campaign:
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 power
Construction
Oils and Gas
Tourism and Hospitality
Defense manufacturing
Pharmaceuticals
Wellness
Electrical machinery
Ports
Electronic systems
Railways
INFRASTRUCTURE
SUPPORT
To make the 'Make in India' campaign successful, the govt has already created
healthy infrastructural facilities for 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.
A new 'National Industrial Corridor Development 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. Panneri, Krishnapatnam, Tumkur are in progress.
The East Coast Company 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 projects with the emphasize on the 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.
Pidlite Industries Ltd approves the acquistion of the adhesive business of Blue
Coat Pvt Ltd for a cash consideration pf 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 lightening business. They also
multiply the total 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 Rs 12,000 cr
(US $196.18 million) in India. They plan to start a plan for manufacturing phenol
and acetone in Dahej, Gujarat.
Sesa Sterlite will spend upto Rs 8,000 cr ( US $1.31 billion) to expand its
Lanjigarh refinery in Odisha with the following consent from the villagers in the
next three to four years.
THANK YOU!!