Make in India- the way ahead by Nandini Gupta 12 W (2).pptx
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2. 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.
3. 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.
Itwas 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unprecidented overhaul of outdated processes and policies.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.'
4. ABOUT THE LOGO
The logo is the silhouette of a lion on a prowl, made entirely of cogs,
symbolizing manufacturing, strength and national pride. The national emblem,
the ashok chakra also has four lions. In India, folklore, the lion denotes the
attainment of enlightenment, besides representing power, courage, pride and
confidence,
5. PROCESS OF MAKE IN INDIA
'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, Itmeans 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.
6. In the event at 'Mumbai Metropolitan Region Developmental Authority'
(MMRDA),around 2500international and domestic, domestic teams from 72
countries, 17 states of India and foreign govt., delegations from 68countries
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.
7. 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:
8. Creatingthemost enthusiastic and dedicatedteam
The first and the most important challenge for the Indian managers to make this campaign successful is
to create the most enthusiastic and dedicated team. The managers will have to identify the hidden talent
in the staff members who can dedicatedly work on the projects.
Creating ahealthbusinessenvironment:
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 Indianmanufactured goods:
Creating competitiveness of Indian manufactured goods is also a challenge ahead, It is found that Indian
products cannot sustain in the foreign competition
Development of skillsand 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 researchanddevelopment:
It has been observed that India 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 for
the Indian companies to make research and development speedier.
9. Creatinglabor intensivetechnology:
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 is not taken care of, it will increase
unemployment in India.
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 generatingfinance.
Creatingcompetitiveatmospherefor theemployees:
Creating competitive atmosphere for the employees is also required for the success of
Indian enterprises in the competition of foreign companies.
10. CRITICISM AND CONCERNS
Through Make in India campaign, the government has, till early October, attracted
INR2000 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.
11. 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. Anational 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.
13. 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.
Here is a quick snap of the advantages and disadvantages of 'Make in India' :-
14. ADVANTAGES:
Develops jobs 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 otosmall entrepreneurs
Bad relations with China
Disruption of land
