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MAKE IN INDIA

My opinion

15 th of August 1947, on a historic moment Prime Minister Jawaharlal Nehru declared from the ramparts of red fort when the world sleeps, India will awake to life and freedom

68 years down the lane, the world now stares at India, the fastest growing GDP, the third highest Purchasing Power Parity and whopping huge demographic dividend.

Today the world knows that the future is here, In India.

15 th of August 2014, Prime Minister Narendra Modi gave yet another daring call to the world Come, Make in India

The initiative calls upon companies across domains to come to India and set up their manufacturing facilities and thereby complement our economy by providing jobs, developing cities and thus raising the standard of life of the average Indian.

Launched officially on the 24th sept 2014, the plan is to invite foreign direct investments or FDI to boost the manufacturing industry across domains ranging from Auto to Aero, Energy to Defence and Space or even Agro and Food Processing.

Out of the 25 sectors, except for Defence and Space, FDI has been approved to the tune of 100%

It aims to work in parallel with other schemes of the Govt of India to provide better innovation, skill enhancement and youth empowerment.

Today we are majorly an importing nation. Crude oil being a necessary and unavoidable commodity, it is a burning need that we save our money on other imports , Particularly manufactured goods and spend them in our country for the betterment of our fellow citizen.

We need to invest here in our motherland as well as invite others to set up their facilities so that we get access to world class products and technologies at a cheaper premium.

In the domains of IT Services Indians have already proved their mettle, so is the case in space technology. At the same time, we have the scope to take huge leaps in the other industrial domains which could provide jobs to a huge pool of engineers, technicians, managers, and also the skilled and unskilled labourers that we are developing.

India is pegged to be the 4 th largest automotive market in the world; we have an air traffic sector which is underutilised. The demands for manufactured goods are increasing day by day. To keep up with the demands of more than one billion people of this country it is necessary that these sectors are utilised to their maximum with a thrust on Make in India.

Currently India is the World largest importer of defence equipments. Our Hostile neighbourhood mandates us to have them. There is a need to spend more on indigenisation and defence manufacturing sectors.

Recently we signed deals to import fighter jets from France worth billions of dollars.

Friends, don’t you think it is justified to say that the Indian tax payer’s money would have been better spent if same equipment was manufactured here in India and the money distributed back to our workers as wages?

Our demographic dividend is the largest in the world. We have the maximum number of people in the world of the age group 25-40 who could earn and spend in the coming years. India is the market to the world and it makes complete business sense to manufacture near the markets to reduce operational costs.

India’s huge coastal line with a multitude of ports facing the two sides of the world could enable us to become an export hub. Particularly the Middle East and countries of the South China Sea could be the target customers. Make in India thus could be the solution for our never ending need for imports and also the window to increased exports.

I am confident that this in initiative of the government will turn the eyes of the giant companies of the world towards the opportunities hidden in India .Understandably there are a few major roadblocks; under skilled workforce, poor infrastructure, red tape bureaucracy and corruption being the major ones. We need to improve fast on all our short comings before this window of opportunity closes. We need to enrich and empower ourselves with skills and challenge the world to utilise the resources we offer.

Let the world know, when we say Make in India

-- We Mean Business.