Make in India-An Initiative to Change The Economic Landscape of the Country
Manufacturing is believed to be the key to the development of a nation. In case of India it is the services which have lead the development. However, if India wants to unlock the door of growth and wants to provide employment to the millions of income seekers, manufacturing is the key. Realizing the imperativeness of the sector ‘Make in India’ was launched on 25th September 2014 by our prime minister, Mr. Narendra Modi. The new policy is launched with the objective of making India the manufacturing hub of the world. The initiative is a sales pitch focusing the key 25 industries to attract foreign investors. However to make it successful the areas of regulations, power, infrastructure etc. needs fixing up. This research paper is written with the intention to expound the concept of ‘make in India’ campaign, its importance and impact on the Indian economy after the completion of one year. The paper also proposes to identify and elucidate the work done so far; the key challenges and recommend possible solutions to deal with the same.
Key Words - Make India, Manufacturing, FDI, Narendra Damodardas Modi.