On September 25, 2015, our Prime Minister launched the Make in India initiative, with the primary goal of transforming India into a global manufacturing hub by encouraging both multinational and domestic companies to manufacture their products in India. The goal of the initiative is to raise the manufacturing sector’s contribution to GDP from 16 percent to 25 percent by 2015. To this end, Make in India has devised a number of initiatives, including promoting FDI, enforcing intellectual property rights, and developing the manufacturing sector in order to increase business opportunities and employment.
ADVANTAGES OF MAKE IN INDIA
The successful implementation of this plan will definitely fulfil the following major objectives:
- To ensure solid growth and valuable employment creation in the country.
- With the help of top investors, country will become completely self-dependent in the manufacturing sector.
- It will provide the benefits to both parties, i.e. the investors and our country.
- Make in India will also help the companies for creating their brand values in the global market.
- It will definitely help for the growth of Indian GDP as well as to increase the value of Indian currency.
- Our own investors will retain in the country itself, who were planning to move their business outside India due to lack of resources and clarity on policy issues.
- Due to this fact companies from across the globe making a huge investment in Make in India project.
DISADVANTAGES OF MAKE IN INDIA
As every thing has two effects i.e. positive or bad. Same in this, there are few disadvantages which are as below:
- Negligence of Agriculture
- The loss for Small Entrepreneurs.
- Bad Relations with China
- Disruption of Land
- Depletion of Natural Resources
CONCLUSION: Thus, the country economy will achieve a new height after the success of this campaign. To make India free of unemployment by bringing development and growth this policy is the urgent need. We can downsize poverty in India by solving the unemployment issue for youths. This, in turn, may solve various social issues in the country.