Thursday , February 22 2018

Make in India

In a move that was received with much cheer and optimism by the international business community, the Prime Minister of India, Narendra Modi on the 25th.September 2014 announced the special initiative to make the nation, the next global centre for Foreign Direct Investment (FDI). The national-scale venture was put in place to facilitate investment, strengthen skill development, bolster innovation, build an exceptional manufacturing infrastructure and more. The approach has immense potential due to India’s wealth of human resources, along with its vast reserves of skilled and unskilled labour which coupled with cheap manufacturing facilities, make India a major centre for industry. This in turn, is set to provide a massive boost to the national economy and a major increment in the standard of living for the people. All the reforms brought about by the ‘Make in India’ campaign have now made India the most open economy in terms of Foreign   Investment not only in all of South East Asia but also in the world. As an immediate result of such reforms, India received USD 18 billion worth of proposals from foreign electronics companies alone, by November 2015. With the allowance of 100% FDI in major sectors such as Automobiles, aviation, electrical and electronic systems, renewable energy, railways etc., India is all set to become one of the most dominant production houses in world economy. The ‘Zero defect Zero effect’ tag line sums up India’s effective strategy to radically industrialize in the near future – to make products without defects and to make them in an environmentally responsible manner.

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