Despite recessionary conditions and weakening of international demand, Make in India 2.0 has been showing good results on the ground.
Come, Make In India. Come, manufacture in India; sell in any country of the world but manufacture here. We have got the skills, talent, discipline, and determination… From electrical to electronics, from chemicals to pharmaceuticals, from automobiles to agro value additions, from paper or plastic, from satellite or submarine, come, make in India.”
This is the almost poetic exhortation that Prime Minister Narendra Modi made from the Red Fort in his maiden Independence Day speech in 2014. He has been delivering the same message to industry captains, both here and abroad.
The Make-in-India campaign, kicked off on 25 September, 2014, was devised to make India a manufacturing hub, push the manufacturing sector’s share to 25 per cent of gross domestic product by 2025 from the current stagnant 17 per cent and to make the manufacturing industry worth $1 trillion, a decade from now.
The object is clear — to create millions of jobs in an under-employed nation, jumpstart consumption, make India an integral part of the global supply chain, and lead the country to the path of double-digit growth in the coming years.
Says Confederation of Indian Industry (CII) president Sumit Mazumder: “It was one of the most powerful ideas ever to have been launched in Independent India.”
What’s Behind The Slogan
To be fair, this is not for the first time the government is pushing a Make in India drive. Immediately after Independence, public-sector units powered the first “Make in India” movement. After the 1991 opening of the economy, private enterprises led the phase two of the “Make in India” movement. The Modi government’s new thrust on the manufacturing sector, in a way, thus, is the third wave of the ‘Make in India’ movement.
This story is from the February 22, 2016 edition of Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 22, 2016 edition of Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
MEMORIES & IMPRESSIONS
Ratan Tata was an exceptional human being. He was a visionary leader, esteemed industrialist, and a humanitarian, who left an indelible mark on India and the world.
The Robotaxi Market
The robotaxi market is shaping up to be a high-stakes battleground as tech giants and automakers race to transform urban mobility.
And the Nobel Prize Goes to AI
The recent Nobel Prize T awards to AI pioneers affiliated with Google have sparked a broader conversation about Big Tech's influence on research and the limitations of traditional prize categories.
Ola Electrified
Once considered a trailblazer in India’s electric vehicle (EV) ecosystem, Bhavish Aggarwal’s Ola Electric now faces a major accountability crisis.
Sharp Slide in Industrial Output on Eve of Deepavali
India’s index of industrial production (IIP) saw a sharp reversal in August, contracting by 0.1 per cent, in stark contrast to the 4.7 per cent growth in July, mostly because of significant contractions in mining and electricity generation.
Heralding the Solar Era with Sustainable Electrification
RAJEEV KASHYAP on the economics of solar power, the hurdles in scaling it, and much more
A WELL-GREASED MACHINE
The OmniBook X14 laptop runs on first-generation Snapdragon X Elite, which bets big on Al-enabled productivity and battery life, but falls short when it comes to overall experience, says Deep Majumdar
DO NOT LETA HEALTH CRISIS RUIN YOUR FINANCIAL HEALTH
For a family of four living in a metro, it is recommended to opt for a family floater health insurance plan with a sum insured of at least Rs 15-20 lakh
Disruption Ahead: Beyond Organisation Charts and Structures
ALBERT EINSTEIN FAMOUSLY said, “We cannot solve our problems with the same thinking we used when we created them.
Dr. Rahul Shivajirao Kadam: A Visionary Leader Blending Sustainability, Innovation, And Social Empowerment
We are on the stage of global warming, and these technologies not only help prevent further damage but also leave behind a better environment for future generations.
