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VOL. 2, ISSUE 4 (2017)
Major role of make in India as driver of growth in manufacturing sector
Authors
Dr. Vinod N Sambrani, Jayadatta S
Abstract
It is a well known fact for many of us that Digital India is the outcome of major innovations and technological advancements which will transform the lives of people in many ways and also will empower the society at large in a better manner. Make in India campaign is an initiative of Prime Minister Narendra Modi who addressed the nation on 25th September 2014 in front of mass audience including both national and international entrepreneurs in New Delhi. To attract investments from businesses all over the world and transforming India to a global manufacturing hub this was an International marketing strategy conceptualized by the P.M of India. However for promoting this campaign logo and brochures, the web portal are used for detailing 25 priority sectors of the economy. The major objective behind this initiative is to focus on Job creation, innovation and skill development and also to align India’s manufacturing sector into the global value chain by encouraging Public Private Partnership (PPP), foreign direct investment (FDI), Joint ventures and advancing ease in doing business (EDB). Besides higher education will also play a significant role in improving the quality of research and development (R&D). The aim of Make in India is to take a share of manufacturing in country’s gross domestic product from stagnant 16% currently to 25% by 2022, as stated in national manufacturing policy and also to create 100 million jobs by 2022. Make in India scheme focuses on acceleration of economic growth to new heights and also to pull back the economy from clutches of recession. As of now India’s GDP is heavily tilted in favour of service sector. Make in India initiative aims to correct the composition of Indian GDP which is the root cause of recession. In this paper an effort has been made to study the role of Make in India as a driver of growth in different sectors w.r.t its challenges, opportunities, changes needed and secondary data is used for the purpose of the study. Secondary data is collected from magazines, journals, brochures, articles, annual reports etc. Make in India campaign certainly makes India a global investment destination and global hub for manufacturing as well as innovation.
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Pages:504-507
How to cite this article:
Dr. Vinod N Sambrani, Jayadatta S "Major role of make in India as driver of growth in manufacturing sector". International Journal of Academic Research and Development, Vol 2, Issue 4, 2017, Pages 504-507
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