Make-in-India is one of the flagship programs of the current regime which is drawing headlines globally. Is it an ivory tower build around hype or does it have any proximity with reality?
India’s economic growth relies on the manufacturing activity. Sadly this has been one of the weakest points in India’s economic history. In addition to political and diplomatic factors, flawed policies around manufacturing have doubled roadblocks over the years. In strong contrast at the same time Asia was emerging as a global manufacturing hub where most Indian counterparts like China, South Korea, Tiwan and Thailand, etc. were flexing their manufacturing muscle.
It is only until recently when India realized the power of factories and becoming a manufacturing powerhouse. The realization that it can not achieve its economic goals without increasing the manufacturing capability is a delayed yet positive step. Prime Minister Narendra Modi’s ‘Make In India’ initiative comes as a wake up call and emphasizes on the domestic manufacturing so that at least a part of domestic demand could be supplemented with products made-in-India. Despite the delays, it comes as a welcome move since it is not an opportunity entirely lost. Interestingly India owns a huge market-base to support a large manufacturing build up in the country.