PM Narendra Modi’s ambitious campaign to turn India into a global manufacturing hub plans aims to develop infrastructure and make it easier for companies to do business. The hope is to bump up manufacturing from 15 percent of GDP (gross domestic product) to 25 percent. But the challenges were highlighted by a seemingly small gaffe: The project was launched with brochures distributed on a smart looking USB flash drive/Pen drives that was made in China. India imports 2-3rds of its electronics, mostly from China. Most American of products, from the world’s most valuable company, Apple, is famously designed in California, made in China. Both making and services now span enormous global networks, with pockets of strong expertise (like India, in services) supplying to the world.
So, the enormous spend and resources for “Make in India” would give better returns elsewhere. Such as in our services industry. Or in building up a ecosystem for renewable-energy services and products, so that by 2020, India can dominate that sector.
Sectors:
- AUTOMOBILES
- AUTOMOBILE COMPONENTS
- AVIATION
- BIOTECHNOLOGY
- CHEMICALS
- CONSTRUCTION
- DEFENCE MANUFACTURING
- ELECTRICAL MACHINERY
- ELECTRONIC SYSTEMS
- FOOD PROCESSING
- IT AND BPM
- LEATHER
- MEDIA AND ENTERTAINMENT
- MINING
- OIL AND GAS
- PHARMACEUTICALS
- PORTS
- RAILWAYS
- RENEWABLE ENERGY
- ROADS AND HIGHWAYS
- SPACE
- TEXTILES AND GARMENTS
- THERMAL POWER
- TOURISM AND HOSPITALITY
- WELLNESS
On PM's "Make in India" campaign, Harish H V, partner, Grant Thornton India, said, "India desperately needs to grow its shrunken manufacturing sector to create jobs for its huge population particularly those of the youth to prevent the demographic dividend from becoming a social disaster. Hence the make in India campaign is critical. This needs to be more than a slogan but must become the key mantra for the Central and State Governments.
The new initiatives that are under way are creation of National Industrial Corridor Development Authority, and identification of five new smart cities on the Delhi Mumbai Industrial corridor. The government has also given approval to seventeen national investment and manufacturing zones.
The campaign launch was attended by a wide array of global as well as Indian industry leaders. RIL chairman Mukesh Ambani said, "Prime Minister Narendra Modi motivates a billion Indians to dream and do." Similarly, other captains of the industry also showered praises on Modi. Industrailist Kumar Mangalam Birla said the country needed to do a lot of catching up on the manufacturing sector.
The new initiatives that are under way are creation of National Industrial Corridor Development Authority, and identification of five new smart cities on the Delhi Mumbai Industrial corridor. The government has also given approval to seventeen national investment and manufacturing zones.
The campaign launch was attended by a wide array of global as well as Indian industry leaders. RIL chairman Mukesh Ambani said, "Prime Minister Narendra Modi motivates a billion Indians to dream and do." Similarly, other captains of the industry also showered praises on Modi. Industrailist Kumar Mangalam Birla said the country needed to do a lot of catching up on the manufacturing sector.
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