Ushering Indian Manufacturing Sector into a New Paradigm : The Make in India Campaign

Posted on Tuesday, September 30th, 2014 by Priyanka Mittal

Exactly 41 days after PM Narendra Modi delivered his exhilarating speech on Independence Day at the Red Fort, comes the MAKE IN INDIA campaign.

The campaign, aimed at providing a thrust to the manufacturing sector and foreign investment in India, was launched on September 25 at Vigyan Bhawan, New Delhi, in the presence of leading businessmen and CEOs of about 3,000 companies including Reliance, TATA, ITC, AV Birla group from 30 countries.

This campaign seeks to improve the employment scenario in India by creating more job opportunities and enhancing skills in the 25 sectors of manufacturing. By liberalising the FDI regime, perusal of the National Manufacturing Policy and easing regulations and licensing laws, among the other schemes, Make in India seeks to cut through all the hassles in investment and bureaucratic red tape. At a time when the Indian manufacturing market is caught in the web of reverse engineering and shopping-abroad-for-technology, such efforts aimed at encouraging innovation and protecting the Intellectual Property Rights will certainly bring a welcome respite.

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The face of the initiative is an appealing website MakeInIndia.com designed by the creative agency Weiden and Kennedy. The agency Invest India (a joint venture between FICCI and the state governments) is responsible for the back-end works related to the ease of doing business and its 8-membered expert panel is expected to respond to the queries of the prospective investors within 72 hours of their being posted on the website. An investor facilitation cell has been set up as the tour-guide for the investors in the Indian market. All central government services are being integrated with an e-Biz single window online portal while the states have been advised to introduce self-certification. The ministry of home affairs has been asked to give the necessary security clearances to all the investment proposals within 3 months.

The campaign would undoubtedly ramp up the share of manufacturing sector in India from its current 15% and would serve to boost India’s rank in the Ease Of Doing Business, compiled by the World Bank, from an abysmal 134 (among the 189 registered countries). If statistics were to be believed, an estimated population of 12 million youngsters enter the Indian job market every year which has magnanimously meagre employment opportunities (~ 2million). As a befitting alternative to the expansion of the acronym FDI, PM’s ideas including the "Fist Develop India" looks forward to alleviating the jobless growth pattern of the last decade. Needless to say this prowling lion campaign has been much overdue!