Make In India Campaign

On 25 September 2014 when he was going to USA, PM Narendra Modi unveiled the brochure and logo for the "Make in India" campaign. He gave a new term for FDI which described FDI as First Develop India. He told us about his vision to take India higher on Ease of doing business ranking. This campaign aims to make India a global manufacturing center. This initiative is targeted towards facilitating, setting up and running business with ease and to draw high foreign investing in India qhich is going to help India in long term.

Sectors covered under this program are as follows:
1. Skill development
2. Quality job creation
3. Develop world level infrastructure
4. Making India a global manufacturing hub
5. Increasing exports and decreasing imports
6. Creating more employment opportunities
7. Addition of individuals income

Highlights of vision for Manufacturing sector
1. An increase in Manufacturing sector growth to 13-14% per annum.
2. An increase in share of Manufacturing sector to country's GDP from 16 to 25% by 2022.
3. To create 100 million additional jobs in manufacturing sector by 2022.
4. Inspire self reliance for growth.
5. Development of required and appropriate skill sets among rural migrants and urban poor.
6. Providing heightened domestic value addition and technological depth in Manufacturing.

Plans for making business easier:
1. Validity of the industrial license extended to 3 years.
2. All returns should be filed online to prevent malpractices.
3. No inspection to be undertaken without the approval of the head of the department.
4. All registers maintained by the business should be replaced with a single electronic register.
5. Advisories sent to all departments and state to rationalize environment.
6. Services of all departments and ministries will be integrated with E-biz.
7. New de-licensing and de-regulation measures adopted.
8. Empowerment of States by decentralization of authority to introduce self certification.

If we talk about the large scale then people wil agree that Sound micro and macro economic policies are needed in the country to stabilise the trade. Countering our trade deficit and hence stabilising the economy is still a big deal. Fluctuations in share markets shows the unstability in Indian Economy. The Central Govt. still have a long way to go in properly implementing the 'Make in India' Campaign. Because of the huge size of our country and also due to wide diversity in India a diagnostic for each state may be a more prudent strategy.