You may have heard of ‘Make in India’ or would have seen its beautiful logo either in the newspaper, television, or on Indian social media. Have you ever thought about what purpose it serves, and what are its objectives? ‘Make in India’ was the first major scheme when a new government came into power in India. It was launched by Prime Minister Modi in 2014. The program has a beautiful logo in the form of a lion inspired by Ashok Chakra.
What is Make in India?
The main objective of the program is to promote the development of new technology in India and products that are manufactured in India. This is specifically aimed at motivating foreign companies to invest in India. So that it can be encouraged to make new products in India itself. Under this, not only foreign companies but also Indian companies’ products are being promoted.
Launching of Make in India
Issues such as Poverty, unemployment, illiteracy, and lack of health services have always existed in India. However, in recent times, they have become more pronounced. To deal with all these problems, Prime Minister Narendra Modi launched “Make in India”. They provide jobs and quality education to the youth of the country.
This was an excellent initiative by the government with an objective to help people get a regular means of income so that they can run their household and provide good education to their children. economy of every country is linked to the buying capacity of people, and which is dependent on the income. Therefore, more the income, more the buying capacity of people.
And to generate income, it’s important to create new opportunities of employment. ‘Make in India’ was meant to provide such an opportunity to the youth of India. Because if the manufacturing sector gets a fillip, it will translate into increased employment opportunities for people. Prime Minister Modi had these two objectives in mind manufacturing hub of the world, and create more employment people.
When was Make in India started?
The Make in India program was launched by Prime Minister Modi on 25th September 2014 . The main objective of this flagship program was to manufacture the items of daily use in India itself. The whole idea was to create suitable employment for the local people and make their life easy.
Besides, the scheme was also supposed to bring major changes in as many as 25 different sectors affecting the Indian economy. One of the main objectives of the scheme was to create more means of employment for the local people.
Government has realised that unemployment is a major problem facing the country, and unless they find a solution to this problem, no progress is possible. Moreover, development was directly related to unemployment.
Therefore, the Government of India launched the campaign to attract the attention of big investors from around the world.
Benefits of Make in India
The scheme was supposed to help the economy, because that is directly related to the income of people. it was basically aimed in that direction. And if the economy becomes stronger, They can too think of joining the league of developed nations. Moreover, if an item is manufactured locally in India under the campaign, it will always cost less.
It will also be available to people of India at a much affordable price. Ever since the investments under the ‘Make in India’ program started, a huge growth in sectors such as automobiles, chemicals, IT, tourism, manufacturing, leather etc. has been observed.
Main objective of Made in India
This program was designed to transform into a global trading hub helping Indian as well as overseas companies. To achieve that ambitious target, around 25 sectors such as IT, Defence, Automobiles, Space, Thermal Energy, Manufacturing, Roads, Chemical, Information Technology, Railways, Oil and Gas, Media and Internet were supposed to provide employment to the youth and improve their quality of life.
The scheme was essentially inspired by the China model which has become the manufacturing hub of the world.
At the time of independence in 1947, India was much ahead than China in almost every field. In the early seventies, an industrial revolution took place in the land of dragons that completely changed the world economy. The bulk of manufacturing shifted to China because with the help of cheap labour, and raw material, the cost of production became very low.
And consequently, most of the leading companies shifted their manufacturing base to China. This continued for almost 30 years. And if China has become so powerful, the credit goes to its industrial revolution. When Mr Modi launched in 2014, he may have been thinking along that line.
Disadvantages of Make in India
There are not many disadvantages of this mega program, but since It focused mainly on the manufacturing sector. It resulted in the neglect of the agriculture sector, depletion of natural resources, loss to medium and small enterprises, pollution, manufacturing based economy etc.
Impact of Make in India
There is no doubt that it is one of the most ambitious projects of the government of India. If this plan becomes successful. it will give a huge boost to the economy, which will allow it to join the list of developed countries.
If the country becomes economically powerful, it will decrease its dependency on other countries. The government has done its job by laying a firm road map for increasing manufacturing activities in the country. And now the onus is on the future entrepreneurs to convert this great idea into reality.
