Professional Documents
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TRANSFORMATION OF
INDIAN ECONOMY AND NEED
FOR MAKE IN INDIA
MADE BY :
DEVANG SRIVASTAVA-2012UCH1708
ANKIT GAIKWAD-2012UCH1721
SAKSHI GARG-2012UCH1749
SHARE OF GDP:
INTRODUCTION:
Make in Indiais an initiative of theGovernment of Indiato
encouragemultinational, as well as domestic, companies to
manufacture their products inIndia.
Through Make In India initiative, government will focus on
building physical infrastructure as well as creating a digital
network to make India a global hub for manufacturing of
goods ranging from cars to softwares, satellites to
submarines, pharmaceuticals to ports and paper to power.
Under the initiative, brochures on the 25 sectors and a web
portal were released.
VISION:
Manufacturing currently contributes just over 15% to the
national GDP. The aim of this campaign is to grow this to
a 25% contribution as seen with other developing
nations of Asia.
Making this work will have huge impact on Indias GDP while
changing the entire graph of our employment sector .
Indias GDP contribution in Manufacturing(currently at 15%)
will increase substantially.
IMPLEMENTATION:
In a short space of time, the obsolete and obstructive
frameworks of the past have been dismantled and
replaced with a transparent and user-friendly system that
is helping drive investment, foster innovation, develop
skills, protect IP and build best-in-class manufacturing
infrastructure.
The most striking indicator of progress is the
unprecedented opening up of key sectors including
Railways, Defence, Insurance and Medical Devices to
dramatically higher levels of Foreign Direct Investment.
The ministry has engaged with the World Bank group to
identify areas of improvement in line with World Banks
doing business methodology.
Labour reforms and policy reforms which are fundamental for the
success of the Make In India campaign have not yet been
implemented.
CHALLENGES AHEAD:
Mr. Narendra Modi has raised the target for solar electric
capacity from 20,000MW to 100,000MW by 2022 at a cost of
maybe $100 billion. This is a serious blunder. It will sabotage
his Make in India plans by technically disrupting the whole
electricity grid, and raising the cost of a critical manufacturing
input electricity.
National manufacturing:
- To increase manufacturing sector growth to 12-14% per
annum over the medium term.
- To increase the share of manufacturing in the countrys
Gross Domestic Product from 16% to 25% by 2022.
- To create 100 million additional jobs by 2022 in
manufacturing sector.
CONCLUSIONS:
During the past 17 months there has been an increase of
35% in the FDI. Whereas there has been a considerable
decline in the FDI of many big countries like China , USA etc.
REFERENCES
http://www.allonmoney.com/investments/make-in-india-eventnarendra-modi/
http://www.thehindu.com/business/Economy/modi-to-launchmake-in-india-campaign-on-sep-25/article6422804.ece
https://www.quora.com/Will-Make-in-India-work-or-will-it-bejust-a-campaign
http://www.moneycontrol.com/news/cnbc-tv18-comments/ismodi-govts-makeindiasuccess_3264001.html
https://www.quora.com/How-is-the-Make-in-India-missiongoing-to-be-successful-and-how-long-will-it-take
https://www.quora.com/What-are-the-advantages-anddisadvantages-of-Make-In-India
http://www.dnaindia.com/money/report-pm-modi-s-make-inindia-turns-one-all-you-need-to-know-about-the-initiative2128448
http://www.mapsofindia.com/government-of-india/make-in-india.html
http://blogs.timesofindia.indiatimes.com/Swaminomics/100000mw-ofcostly-solar-power-can-sink-make-in-india/
http://www.iimahd.ernet.in/assets/snippets/workingpaperpdf/1492390
252015-02-02.pdf
http://www.mapsofindia.com/government-of-india/make-in-india.html
http://www.makeinindia.com/about
http://www.youthkiawaaz.com/2014/09/three-problem-childrenindustry-heres-modis-ambitious-make-india-enough/
http://zeenews.india.com/business/news/economy/narendra-modismake-in-india-campaign-five-challenges_109098.html
http://blogs.wsj.com/briefly/2015/08/12/five-things-that-show-modismake-in-india-campaign-is-working/
https://www.quora.com/What-are-your-views-on-Modis-Make-in-Indiaprogram
http://www.slideshare.net/jitendersharmaji/role-of-make-in-indiamission-for-poverty-alleviation-and-sustainable-development
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