Make in India campaign is chasing some serious manufacturing dreams, looking to increase its share in the country’s GDP from 16% to 25% by 2025. But the question is, is this campaign really working like it have to according to Narendra Modi perspective or it is also a failure by Mr Modi for Indian people.
Prime Minister Narendra Modi invited international businesses to “come, make in India, invest in India – for India, and for the world” at the eighth annual Global Entrepreneurship Summit in November 2017.
This initiative was initially showed the world that how much ready India is to show its commitment to highlighting its manufacturing capabilities in order to attract foreign direct investment (FDI) and address gaps in employment.
Mr Modi started this campaign in India on 4th September 2014, now after completing its 4 years now observers asking “what has to Make in India actually made for India?
In the very beginning of Modi’s flagship Make in India policy has given rise to some positive outcomes. In the three years since the introduction of the policy, India’s rank in the World Bank’s Ease of doing business has climbed 42 places, from 142 in 2014 in 2017 India ranked at 100. In 2015, India surpassed China to become the top destination for FDI in the Asia-Pacific, seeing approximately US$ 63 billion worth of investment flow into the country.
Whereas the campaign brings a lot of employment opportunities to India also appears to be out of sync because of the unskilled people of our nation. The main motive of Make in India was to give Indian people 100 million jobs by 2022, giving the manufacturing sector an important role in domestic job creation. But more population doesn’t make more skilled labour, which is the sector requires. The harsh reality may be that the highly skilled resource requirements for the manufacturing sector are out of kilter with the skill profile of India’s young up-and-coming labour force. As a result, education and skills may become extremely competitive in order to meet the demands of future employment on Indian youth in the sector.
According to the last three years reports a lot has been done in a very short time. It is still too early to call Make in India success or failure. Although it shows a lot of positive outcomes over negative ones in all the fours years of the campaign. Regardless, it needs to be recognized for all that it is an innovative method of thrusting India onto the world stage by building a strong manufacturing base. While the Indian government has begun to address certain issues surrounding the policy, for instance by pledging to provide manufacturing skills training to 500 million people by 2022, although the solution of achieving long-term sustainable growth and development still remains out of reach.