preview

India 's Indi Road Ahead For Development

Decent Essays

MAKE IN INDIA: ROAD AHEAD FOR DEVELOPMENT
Abstract: Prime Minister Mr. Narendra Modi had launched the “MAKE IN INDIA “campaign on the 25th of September, 2014 in the presence of eminent Indian industrialists. The initiative taken by him is to promote a culture of trust, transparency among industrialists so as to facilitate the process of doing business in the country. This initiative aims to put India on the global manufacturing map, help in the inflow of technology, capital and in the process create millions of job for the Indian youth.

In order to establish itself firmly as a superpower and a self-reliant nation, India needs to commit itself to the cause of Indian manufacturing. Like the initial few years after Independence, the current government has to focus heavily on improving the quality of Indian made goods to compete in a world which is becoming increasingly competitive. This is the right opportunity because it has been decades since a party with absolute majority has come to power.
When we look at other developed countries like Germany, Japan and USA the industry and the services sector contribute roughly 25% and 70% respectively. In comparison the contribution of the industry and services sector in our country is around 16% and 64% respectively. Out of the 487 million labour force in the country, industry and services sectors contribute 20% and 31% respectively compared to China which has roughly 30% contribution from the manufacturing industry. Every year 10

Get Access