‘Make in India’ is an ambitious initiative by the government of India to promote India as a global manufacturing hub nationally and abroad; thereby boosting the country’s economic prospect. Well, this is a great opportunity for the government to position India as a manufacturing powerhouse able to match up the dominance of the developed countries on the world stage while encouraging entrepreneurship, creating employment for over 10 million people, and attracting Foreign Direct Investment in India.
As we follow Make in India, this welcomes emphasis in our foreign investment policy on efficient and competitive domestic manufacturing which will also serve multiple objectives in India.
Considering that the raw material is available all around the world and by manufacturing the goods here in India itself will enhance job opportunities within the country as the size of our domestic market and the abundant availability of skilled and technical manpower at low cost is a leverage that we need to put to use consciously to induce foreign investors to make India as a manufacturing hub in their operations. Also India is famous for its minimalist engineering and even the smallest scrap in India is put to its best use.
Thus this will lead to the minimization of the import of products into the country, thereby reducing the pressure on our trade deficit. Also in the long run, it will help increase and diversify our exports from the manufacturing sector, thereby increasing the revenue for the country.
Contributing to all the these objectives, this is truly a time of great expectation for India, and this is probably the only time in recent past where our odds of driving breakout growth in manufacturing are very high.
Also, India’s small and medium-sized industries can play a big role in making the country take the next big leap in manufacturing. India should be more focused towards novelty and innovation for these sectors. Also the government has to chart out plans to give special sops and privileges to these sectors so as to make this vision working.
Vinod Cookware being a domestic and a home grown brand who manufactures all its goods in India is a staunch supporter of Make In India contributing to multiple objectives which are essential to make this vision possible.
Overall, ‘make in India’ campaign is ‘extremely progressive’. The fact that we need a robust and powerful “manufacturing” engine to take us in the future is not that difficult to agree with. We need to re-energize and reinvigorate the manufacturing sector, and that is quite the vision of the new government when it launched the ‘Make in India’ program.