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
In 1960, West Bengal has been amongst the 3 richest states of India. Being a British capital of those times it has a strong manufacturing tradition. During the colonial period, West Bengal was one of the leading states having the highest contribution to nation’s industrial output and employment and continued this trend till the 1960’s.Post 1960, the state started losing its prominence and witnessed reduced productivity and labour militancy on a grand scale. This trend continued till the late 90’s, but the turning point came after 2000 where there has been a resurgence in the state’s industrial sector. Economic reforms and competition among states have led to renewed interest of Business groups in investing in West Bengal. This revival is evident from the upward trend
These days, the country’s manufacturing industry makes up for only 11% of GDP, sells 2% of the world’s manufacturing exports, and employs a mere 8% of the workforce. No longer
|industry too. It has transformed India, created pride in being Indian and given the much needed respect to our passport globally. Including |
In 2006, fifty percent of India’s population was under the age of twenty-five. (Kamdar, 2007, pg. 8) The number of 15-24 year olds, which is the demographic most suited to entry-level work, is nearing 250 million. This is in sharp contrast to India’s largest Asia competitor China, whose youth workforce is declining due to regulated birth rates and a spike in college enrollment. (Youth population chart, NYT, 2015) A larger base of workers for input in emerging markets leads to greater outputs of production, which is important for shifting the production possibility curve outward and building a strong
With all these processes in the economy, the labor force also evolve from primary sector to secondary sector (manufacture, industrial) to services and information processing sector, workers in the two latter sectors take about 70% of the labor force.
The biggest democracy of the world and the largest democracy in the world, India and the United States of America have always had an on/off relationship in spite of the their near identical origins, institutions and problems. Emerging from a British colonial past both countries have withstood a number of challenges and complications that arise in a modern heterogeneous state.India, on one hand is a 1.2 billion strong nation which is expected to become the world’s most populous within a generation. Armed with a nuclear arsenal, India boast of an army that is third after only China and the USA. Economically, the GDP of India in terms of purchasing power stands at $4.7 trillion which is the fourth largest in the world and is rising at the
India’s workforce is well educated and demands a lot less than those in the western world, because of this business tend to
The craft of India have a history of several centuries. The craftsperson in the earlier days were known as worldwide for their skills and craftsmanship. The handicraft product are exporting have taken place from time to time which needs the machinery handicraft products because manual labour take much time and less products. The skill of handicraft is handed down from generation to generation in the form of family tradition.. They teaches their children about
Bharat Forge and Suzlon are two of the biggest Indian companies in the world today. These are two companies that made globalizing a top priority and this case study focuses on how these two companies managed to get themselves noticed and established on the world map. These two companies are manufacturers of very different products. Bharat Forge is very much focused on automotive parts, specifically on forging parts whereas Suzlon was a textile manufacturing industry which then turned its focus on wind turbines, turning it into a force to be reckoned with in the energy sector. This case study focuses
India highlights prominently in countless respondents' courses of action for what's to come. Most of the overall business pioneers explored a plan to enter or amplify their present operations in the country all through the next year. Very nearly a fifth of respondents with a creating business part method said that India speaks to more than 20% of total capital assigned for the making scene. The structure, client things, industrials, advancement, media, and telecom (TMT), and life-sciences parts are set to drive India's improvement all through the accompanying two years. Theorists are contemplating India for both their organizations and collecting store arrange. With the organization's portion molding the establishment of India's economy, the Indian Government is setting more weight on strengthening the country's amassing natural group. Our investigation exhibits that overall money related experts are starting to see relevant attempts, with most by a wide margin envisioning that India ought to be a principle gathering focus point by 2020. Regardless, for that to happen, nature must be all the additionally engaging and measures on
The country of India has been home to some of the brightest and most influential people to ever walk this planet. However, they are still an ever evolving and developing country finding its footing in establishing themselves as a global power as well as developing internally. Many domestic problem exist, having grown and evolved from the foundation of India. Their issues consist of gender inequality, religious intolerance, economics, international relations, as well as corruption. Those are only some of the many problems which they face. As with many developing countries, India has a predominant issue when it comes to poverty. In August of 1947, Jawaharlal Nehru, the country’s first prime minister, wrote the national document, “A Tryst with Destiny”. In the document he states, “The future beckons to us. Whither do we go and what shall be our endeavor?...to fight and end poverty and ignorance and disease and inequality of opportunity...which will ensure justice and fullness of life to every man and woman.” To put the idea in perspective, it was written sixty-eight years ago at a transitional point in the countries history when they were granted freedom and independence from the oppressive rule of Great Britain. In this address, Nehru set forth his rule with many lofty goals that have yet to come to fruition. While it can’t have been expected that all these goal would be fulfilled, Nehru showed the country where they need to go in order to prosper into a great nation. This was
Indian automotive industry is one of the largest automotive markets in the world. India 's commercial vehicle and passenger car manufacturing industry is the sixth largest in the world, with an annual production volume of more than 3.9 million units. At present, Indian automotive industry is flooded with major domestic manufactures such as Tata motors, Maruti Udyog, M&M, Ashok Leyland, and global players Ford, Hyundai, Renault, Mitsubishi, Nissan, BMW, Hindustan Motors, Daimler, Caparo, Mini, and Datsun.
I felt obligated to represent my country as best I could, remarking on how Canadian businesses like Selinger, a construction development company, and Blackberry have successfully entered the market, created jobs for many unemployed people, and helped found hundreds of new ventures. “It’s not enough,” according to Archit. It’s conversations like these that brought a new sense of urgency and opportunity to my time in India.
The development of the economy is becoming more and more important for every country in nowadays. “Canada’s economic history begins with the hunting, farming and trading societies of the First Nation.” (Drummond. I. M., economic history) along with the Europeans arriving this area, the economic has a dramatic change especially by the early Atlantic fishery industry. (Drummond. I. M., economic history) There are three major sectors in every country which are primary sector, secondary sector and service sector. There is a significant change in Canada which is the service-sector growth so fast from 1891 to 2012. In the book ‘work, industry, and Canadian society’, it shows that there is 80% in service sector, 22% in secondary sector and 4% in
Manufacturing is already seeing signs of a renewed boom in investment in diverse industries including defence, heavy engineering, power, transportation including automobiles, petroleum and petrochemicals, textiles, and food processing. Unlike in the past, where manufacturing came up in the proximity of metros and mini-metros unless there were backward area benefits or other incentives, this time around manufacturing investments are spread almost all across India. This is, of course, after evaluating attributes such as the availability of raw material, manpower and its relative costs, environment issues, supply chain and logistics issues, and market factors which render availability of fiscal incentives as just one of the many variables in the manufacturing location selection grid. The services sector is also moving beyond IT. The largest growth in the coming years will be in a host of new services including retail, healthcare, leisure and recreation, education and coaching, construction and other real estate, grooming and well-being, and travel and hospitality. This, in turn, has many dimensions, with the most important being the certainty of unprecedentedly large numbers of women entering the workforce. Further, these sectoral jobs are even more spread out across the length and breadth of both urban and