MAKE IN INDIA CAMPAIGN - OPPORTUNITIES AND CHALLENGES
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Abstract
In the 21st century, the Indian market has been witnessing constructive sentiments during the past few years. The macroeconomic indicators comprise displayed a hopeful trend in the modern times. However, the situation of the manufacturing sector in India is a cause of concern. The aim to take a share of manufacturing in countries GDP from sluggish 16% value currently to 25% by 2022, as declared in national manufacturing policy and to create 100 million jobs by 2022. However, the industrial growth scenario is improving and is estimated at 2.4% in the period 2015-16. The current measures undertaken by the government of India in conditions of facilitation to the manufacturing sector, the creation of an encouraging environment for the manufacturing activities, focus on improving industrial policies and procedures and reforming work laws have facilitated improvement in industrialized sector.
The 15th prime minister of India Mr. Narendra Modi on 24-09-2014 lunched the MAKE IN INDIA which is a national campaign design to attract facilitate investment in INDIA. The main objective of this paper is to focus on 25 sectors of the economy for job creation, skill enhancement, fostering innovation and development of smart cities.
Make in India campaign aim to correct the composition of Indian Gross Domestic Product (GDP) Growth which is the root cause of the recession. At present India’s GDP is heavily tilted in favor of service sector. Secondary data collection is used for the purpose of the study and this tilted paper discusses make in India campaign-its opportunities and challenges. Finally, make in India campaign surely makes India an investment destination and international hub for manufacturing and innovation.