Make Indi The Road Ahead For India 's Development Saga Or Is It Just Another Rhetoric?
1663 Words7 Pages
Make in India: the road ahead for India’s Development Saga or is it just another rhetoric?
“Make in India” campaign is an initiative that attracts the industrialists to make India a manufacturing hub that helps to create jobs. India ranks 142nd in the ease of doing business and it is becoming increasingly difficult for both Indian and foreign businessmen to start a business in India. The infrastructure in India is not good enough to attract investors. There is a lack of proper connectivity between the cities in India. The other bottleneck are taxation, Government policies, labor laws, ease of obtaining licenses and land acquisition. India must also compete with its neighbor China as both the nations are seen as growing…show more content… Historically, India has always been an agricultural nation. The major share of GDP is from this sector till the early 1950s and 60s. Down the line, its share began to decline and service sector started to emerge. Today service sector players a prominent role in the economy of India. On the other hand, Industrial sector has been growing right from the beginning but the growth is minimal when compared to service sector. The Following graph depicts the percentage share of Individual Sectors in the country. Figure 1: Shares of Agriculture, Industry and Services in India
As observed clearly from the above graph, the growth of Indian Manufacturing Sector has been minimal. This can be attributed to the myriad factors that hinder the Indian Industrial sector. On a closer introspection, there are major reasons in the country which holds back the Indian Economy. Firstly, India lacks the optimum prerequisite for the growth of Industrial Sector i.e Infrastructure. India is lagging in terms of infrastructure and more private players and public-private partnership should be encouraged to bring about the change. One such example is Jamshedpur built by TATA. It shows that the problems are able to overcome with proper policy changes.
Secondly, power poses the next hindrance for the Industrial Sector. The issues related to power should be resolved as early as possible in the near future. Lack of power is a big hurdle to the running of industries. Many