The present honorable Prime Minister Shri Narendra Modi‟s visionary thrusts on “Make in India”, “Swachch Bharat and Namami Gange”, “Digital India”, “Skill Development” along with minimum cost &maximum Governance have instilled new life and vigor to the role and performance of Indian Economy. Prime Minister of India, Mr. Narendra Modi launched „Make in India‟ programme on 25 September 2014 to attract foreign investments from around the world and make India a manufacturing hub. The aim is to increase the share of manufacturing in country‟s GDP to 25% by 2022 from 16%, as stated in national manufacturing policy, and to create 100 million jobs by 2022. The main emphasis will be given on 25 sectors of the economy for job creation and skill enhancement. In order to revive the Indian economy such scheme has been launched. Make in India will improve the composition of Indian GDP which is the major cause of recession. Currently growth of GDP is due to service sector. Efforts should be made so that GDP rises due to manufacturing sector. This paper discusses the Make in India concept given by Prime Minister of India. It also discusses the Foreign Direct Investment. The aim of this paper is to make an analysis of impact of this campaign on foreign direct investment and economic growth of India. In the end, the critical assessment of make in India campaign is given and after that some suggestions are given to make this campaign more effective.
KEYWORDS: Make in India, FDI, Economic Growth, Industrial Production, Manufacturing Hub.
Introduction The 15th Prime Minister of India Mr. Narendra Modi launched the “Make in India” program in September 25th 2014 in New Delhi He invited foreign firms to invest in India and also directed the CEO‟s of domestic firms to invest in India by saying that, “ There is no need to leave the nation. We want our companies to shine as MNC”. India is a country having vast natural resources and highest manpower. There are chances of economic development and rise in economic growth. One example is enough to understand this concept- Ferrari- a sports and luxurious car company is at present manufacturing all its units outside India. If anyone is interested in purchasing its car, the customer has to buy it from outside India, if the firm establishes its manufacturing plant in India, besides generating employment and the customer getting the car at very competitive rates and the firm will also be benefitted.
The logo of “Make in India” depicts a “Lion” which refers to „King of Forest‟. The aim is to make India the king in manufacturing sector by converting herself to a self dependent and self sufficient country and to give the Indian economy a worldwide recognition.
Policy for Make in India Program
