Is ‘Make in India’ a success?

Is 'Make in India' a success?

Achievements :-

  • With the launch of Make in India, rules and policies are simplified. Now it is much easier to start a company in India. That means Red tapism is reduced.
  • Ease of doing business in India is increased. India now ranks 130th out of 190 countries in the World Bank’s 2016 ease of doing business index.
  • Make in India program attracted Foreign Direct Investment (FDI) to India.
  • This program made India, one of the preferred manufacturing hubs.
  • It created new employment opportunities.
  • There is a boom of startups in India after launching Make in India.
  • Several foreign companies started their manufacturing units in India.
  • India is aiming zero electronic imports by 2020, by making India as a electronic manufacturing hub, which is a part of ‘Make in India’ program.

Drawbacks :-

  • Though improved, ease of doing business in India is not upto the mark. Private firms, especially larger firms are complaining about regulatory obstacles.
  • There is a shortage of skilled manpower in India. Though the situation has improved, still there is a gap in between the demand and supply of skilled manpower.
  • Though many industries are planned to be setup and inaugurated, many of those projects are not implemented yet.
  • Workers in India’s manufacturing companies are getting very low wages.

Background :-

  • ‘Make in India’ program was launched in 2014 to transform India into a manufacturing hub.

Conclusion :-

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‘Make in India’ is a success in creating a favorable environment for manufacturing companies. It’s effect on Indian economy is clearly visible. But there are some drawbacks that need to be taken care of.

 

Afterwords :- Do you think ‘Make in India’ program is a success? Express your thoughts in the comment section below.


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1 comment

  1. Make in india is successful move in 2014. it will help to develop indian economy. so many people will get jobs. Make in india – Make it india




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