- 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.
- 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.
- ‘Make in India’ program was launched in 2014 to transform India into a manufacturing hub.
‘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.
Copyright @ Group Discussion Ideas.