Most Visionary Economy Alleviation Plan of India
Make in India scheme is an initiative to facilitate and augment the manufacturing industry in India. In other words, it can also be said that this program is intended to increase the GDP of the Indian economy. This scheme was launched by Bhartiya Janta Party government (BJP) under the leadership of visionary Prime Minister Mr. Narendra Modi in the very same year of 2014, to which they come into the majority. Besides promoting manufacturing and employment sector in the country it has set various wide array of targets which are meant to change the entire economy of the country positively.
Make In India Program
This program is a great dream of most visionary and influential Prime Minister of India, Mr. Narendra Damodar Modi, who initiated this economic reform-oriented program on 25 September 2014 in a way to improve the employment and manufacturing industry in India. This program has a wide scope, associated with different sectors of the economic environment of the country. This program is specifically designed to promote the enlisted or targeted, 25 various sectors, which were badly in a need of such reforms. In a way to make this program designed in more wise and appropriate way, it was entrusted to Wieden & Kennedy, which is a foremost marketing firm, known for their earlier project work for Nike. It is intended and approved to facilitate the foreign direct investment and domestic companies in manufacturing their products in the Indian vicinity.
Key Factors of the Program
• This program is destined to facilitate foreign direct investment and convincing Indian and foreign companies to produce their goods in India.
• It is estimated that such facility of producing goods would increase the demand for employment in various sectors and would lead to better employment conditions.
• This program is competent in attracting foreign currency to be invested in the Indian industrial sectors.
• It would create a demand of skilled people in specific sectors, which would also create a requirement to train people in various sector and skills, to satisfy the demand of such industrial requirements.
• It has already soared the position of India in the context of ease of doing business on its land. It has far more potential to take the India at much better ranking through this program alone.
• It has cleared the vague picture of deciding FDI ratio in railways and defense sector and applied the determined terms in the form of this scheme.
The Twenty-Five Sectors Focused In Make in India Scheme
It has been decided and identified to facilitate the leading sectors of the country which are responsible for the rapid economic growth of the country and employment in the states. These sectors can be enumerated as:
3. Tourism and hospitality
6. Thermal power
7. Space and astronomy
9. Electronic systems
10. IT & business process management.
11. Oil & gas
12. Garment and textile industry
13. Shipping and ports
15. Defense manufacturing
17. Electrical machinery
19. Roads & highways
20. Automobile components
22. Entertainment and media
24. Food processing
25. Renewable energy
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