Make in india - New model for socio-economic growth in India

1. Make In India
New model for socio-economic growth in India

2. Introduction
 Make in India is an initiative take by the Prime
Minister of India, Narendra Modi to attract
businesses from around the world to invest and
manufacture in India. The campaign has been
concentrated to fulfill the purpose of Job Creation,
Enforcement to Secondary and Tertiary sector,
Boosting national economy, Converting the India to
a self-reliant country and to give the Indian
economy global recognition.

3. Objectives
 To encourage foreign as well as domestic companies to
increase production with in India
 To make India manufacturing hub of the world (at least
Asia)
 To boost GDP and Tax Revenue of the country by
producing goods of high quality and minimum impact on
environment
 To increase contribution of manufacturing sector to GDP
of the country

4. Impact on Economy
 Employment will increase manifolds also GDP will be
boosted due to increased production
 Increase in employment will increase purchasing power
of people which will boost demand and increase
consumer base for companies which will incentivize
them for more production
 Exports will increase which will help in improving
Balance of Payment and increasing foreign exchange
reserve .
 Foreign Investment will also bring technical expertise
and new innovations which will increase skill power of
domestic producers as well
 Brain drain will also reduce

5. Challenges
 Poor rank in ease of doing business. According to
World Bank report 2017 India ranked 130th out 190
countries in ease of doing business ranking.
 Federal structure which reduces the Central
government’s power in pulling off such schemes
and ideas. Provision of utilities such as electricity,
water, infrastructure development such as roads,
law and order, land allotment, are all under state
government’s gambit. Thus, cooperation of state
governments is an absolute necessity for Make in
India.
 High level of corruption in India at all levels in the
bureaucracy

6. Conclusion
 Make in India is an ambitious project, but it is one that
India desperately needs to kick start and sustain its
growth momentum. Fortunately, we have many natural
advantages including a big labor pool and a large
domestic market. All we need to do is to improve ease
of doing business, increase transparency in
administration, improve infrastructure. At the end it can
be concluded that the concept of Make in India will
definitely going to boost up the Indian economy and will
help in meeting the major challenges of poverty,
unemployment, low per capita income