Make in India Scheme
The Make in India is a program which is started to grow Indian economical condition. In this program companies are boosted to set up their plan in India, this plan is not only for overseas companies but this program is for the domestic companies to encourage them to set up their plan in India itself to get more and more and help their country economics. Make in India program is basically to increasing revenues from tax by producing quality product in their country itself. This also saves the environment.
|S.No||Facts About Make in India Scheme||Detailed Information|
|1||Scheme Name||Make In India|
|2||The Person who Launched this Scheme||Indian Prime Minister Narendra Modi|
|3||Date on which the Scheme Launched||25 September 2014|
|4||Total number of Sector which this scheme concentrate||About 25 Sectors|
|5||Average at which India’s industrial production rose||2.7% year over year|
The Make in India program was first started by our respected Prime Minister Shri Narendra Modi. The basic purpose to start this program is build India as biggest economical power at international level and give support to our in house products which are also environmental friendly. This program is to lead India towards a successful destination as well as grow the Indian economy ahead. This program also helps to decrease the unemployment problem in youth and increase the employment growth in the middle of to the youths of country which will certainly assist in decreasing the poverty level in the middle of youth and other social issues in India.
Process of Make in India Scheme
Make in India program is not only for paper but this program is for the growth of youth. In this program youth are boosted to start up their own work in place of moving towards overseas for employment. In this process the name of India is put on the things which are made in India. For govt will provide help to start up their business. For this program government provide 930 crore Rs as startup and total 20,000 crore will used in this process. One of the major benefits is that things which are made in our country are less costly and save lot of taxes and thus manage the budget of general public and reduce the poverty level.
Plan for Make in India Scheme
Make in India Scheme plan is not simple and only bounded to some newspaper advisement. This process plan is to convince big companies to set up their plan in India itself. For example most of mobiles are made in Korea and if we see at the back of mobile we find writing “made in Korea” but if the mobile will manufacture in India then text will replace from Made in India. To complete this process, big companies have to ready put their plant in India itself not in abroad. Also as Indian youth are full of talent so they are also support by govt and bank to place their plant. So the businessman who plan to go oversea, why not plan in their own country.
Made in India scheme main target is to make India hub of electronics items within next 10 years to improve economic and self confidence of Indian youth
In this plan the Department of Industrial Policy and Promotion worked with a group of highly specialized agencies to construct brand new infrastructure, including a devoted assist desk. Companies like Xiaomi, gas by now set up their plant in India in different sectors and many more are expected to come in India in coming years is expected to open a manufacturing unit soon.
The Make in India Vision
At present businessman only contribute 15 % in the economics of country. The Make in India Vision is increasing it up to 25 % within next few years. In the process, the government plan to produce more jobs for young, try to make more investment of foreign businessman in country economics. The one of main vision is change India a manufacturing hub at the center of global economic.
The campaign was devoted to the well known patriot, philosopher and political personality, Pandit Deen Dayal Upadhyaya who had been born on the same date in 1916. Its logo is lion which is taken from Ashok Chakra which is symbol of victory.
Why Companies were not do investment in India
Make in India campaign is at loggerheads with the Make in China perfect that has put on thrust over the past decade. China is a main business competitor to India when it comes to the outsourcing, built up, and services business. Even India is hub of talent compare to china even then big international companies’ move towards china not towards India. This is because of the following
India’s sick infrastructure situation and defunct logistics facilities make it hard for the country to attain an elite status as an industrialized hub.
Reimbursement and drawback of Make in India Scheme
Benefits of Make in India Scheme:
- Improve the economic growth.
- Make India a manufacturing hub at the center of global economic
- Decrease the poverty level
- Make the environmental protected product in country itself.
- Grow the talent of Indian youth
- Represent the Indian youth in the international market and Show of that Indian youth is full of talent
- Give support to our in house products
- After the completion of this scheme the share of manufacture sector will increase up to 25 % in GDP
- This will assist in make job market for over 10 million peoples in India
Drawback of Make in India Scheme
- While implementing this scheme the biggest problem that govt has to face is to build trust in the middle of manufacture sector.
- Indian poor infrastructure will also become one of major problem in implementing this plan.
- Manufacturing sector demands highly skilled labor whereas India lacks highly skilled labor force.
- At present Indian youth prefer to go oversea for employment as they feel that there are more chances of growth in foreign so it become difficult to move the youth towards country itself.
So the Modi government has to be determined first to take away these difficulties for achieving their target of Make in India Scheme and make the nation a perfect destination for investor to set up their business.
After the implementation of Make in India Scheme in 2014, India’s rank position in the World Bank’s index of ease of doing business gets improved significantly. The rank has been improved from 134th to 130th in 2016 and it is expected to improve further as time progress.