Why ‘Make In India’ Is A Good Social Movement To Support?
The ‘Make in India’ initiative was launched by the Indian Prime Minister Narendra Modi in 2014 to encourage and promote manufacturing and production in India as a way to enhance the economic prospects of the country.
The ‘Make in India’ can only work if manufacturers, retailers, and consumers all support this initiative. While for government purchasing, national leadership can push it. But at the ground level, the bureaucrats need to support it. This support is a social movement. Similarly, manufacturers who have got used to importing from China and labeling their brand names including many big manufacturing companies should also support the social movement by manufacturing in India. Finally, unless the customer gives preference for Indian manufactured products, the retailers may keep pushing Chinese manufactured products. All these require a social movement in supporting the ‘Make in India’ initiative.
The goal was to encourage more and more investments in a way range of sectors and manufacture products in India so that it can lead to the creation of new jobs. One of the driving factors that led to the success of Narendra Modi’s campaign for winning the election was that he promised new jobs for a large number of people all across India. The Make in India movement was a step in that direction and it meant to improve the value of people living in this country as a whole.
Both manufacturing and services sectors were meant to benefit from this aggressive investment and development. The main sectors in which the investments were slated to be made include Information Technology, automobile manufacturing, tourism and hospitality, biotechnology, designing and manufacturing sectors, chemical industry, pharmaceutical industry, renewable energy, electronics, textile, and mining just to name a few. Eventually, this led to major investment moves being made by investors within the country as well as from other parts of the globe. The foreign direct investments (FDI) that were carried out in India also surpassed those of the United States and China. In due course of time, numerous states also started to launch their investment initiatives. In a way, the Make in India movement became one of a kind effort by the government to change the economic landscape of the country.
It is important to note that factory production has been going on in India for a long time and the idea is technically nothing new. However, what is new is an organized and aggressive approach to try and change the economy and improve the prospects of people who are working in several sectors. The initiative was also to convert India into a truly global hub for all kinds of manufacturing activities. Multiple strategies and goals were highlighted to achieve these targets so that the investment approaches can generate the best results. One of the main goals was to boost the progress rate of the manufacturing sector to about 12% to 14% per annum so that it can contribute more to the economic advancement of the country. The initiative was also envisioned to create 100 million more manufacturing jobs by the year 2022 so that the contribution of this sector to national GDP increases to a whopping 25% by 2025. This is a massive 9% increase from the current standard of 16%
It is therefore necessary to support the ‘Make in India’ movement and initiative as it can lead to the tremendous growth of the national economy. The movement can not only boost the level of investments but also help in the creation of modern infrastructure that can lead to an improved way of life. It can also lead to better foreign capital in various sectors.