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October 24, 2017

Essays for IBPS PO VII in 250 Words : How will the Make in India Campaign affect the Indian economy ?

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How will the Make in India Campaign affect the Indian economy ?

The Government of India launched an initiative in September 2014 to invite and encourage multi-national and national companies to manufacture their products in India. This campaign is known as the 'Make in India' initiative. The aim is to transform India into a global manufacturing hub and increase Foreign Direct Investment (FDI) in the country. 

A call was made to potential investors to partner in boosting India's economy by setting up their manufacturing units in the country. But, this could be made possible only when big changes were made in India's policies of trade and commerce. The environment was not friendly to foreign investors, rules, policies and schemes were often complicated and unintelligible. They were not conducive to inviting foreign currency. Make in India is not a hollow cry or slogan, It matches perfectly with PM Modi's words 'Minimum Government, Maximum Governance'.

The working and policies related to the initiative were made available online, they were easy to understand and follow. Transparency and lucidity in the working were brought about. Most sectors were opened to FDI, including Defence, Tea plantations and railways. Patents and copyrights were issued under Intellectual Property Rights. Many clearances can be received online and Income Tax too can be filled online. Information on how to invest in 25 sectors is available online in a simple and comprehensible format.

Employment opportunities will increase, living standards will rise and inflation will be checked with the success of Make in India. The response to the call has been overwhelming. Crores of rupees have been invested by foreign as well as domestic businessmen. Manufacturing units have been set up by companies like Lenovo, Huawei, etc. In a short period of time, the initiative has been successful in increasing foreign investment, providing employment, inculcating skills and encouraging innovative ideas.

shared by Nisheeta Mirchandani

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1 comment:

  1. 1]september 2014, manufacture product in india, global manufacturing hub
    2]fdi, economy boost
    3]policy shift in trade and commerce,business environment, online clearance
    4]employment,standard of living, skill development,innovative ideas and research,inlation,huwaie and apple units


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