MAKE IN INDIA CAMPAIGN: A STUDY OF ITS INITIATIVE AND IMPACT ON THE INDIAN ECONOMY

Abstract

Make in India is a major national program of the Government of India designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property and build best in class manufacturing infrastructure in the country. Make in India is the NDA government's flagship program envisioned to improve the domestic manufacturing industry and appeal to foreign investors to invest in the Indian economy. Manufacturing plays a vital role in India. The objective behind this initiative is to focus on job creation, skill development, and innovation and to align India’s manufacturing sector into the Global Value Chain by encouraging (PPP) Public-Private Partnership, (JV) Joint Ventures, (FDI) Foreign Direct Investment inflow, and (EDB) advancing Ease in Doing Business. But there is a need for sound policies and facilities for land procurement, labor laws, power tariffs, transport, and logistics. The government has shown intent to ease the processes but the actual implementation is very slow. For the success of the Make in India program, mere willingness to spend on infrastructure and attracting FDIs will not serve. The government needs to work on implementation. It should strive for better implementation of the decision policies. The problems on the grassroots level need to be understood and addressed.

Keywords: -   Make in India, Foreign Direct Investments, Indian Economy