A Study on the Impact of “Make in India” on the Indian Economy

Abstract

 Make in India is a Government of India scheme launched by Prime Minister Sh. Narendra Modi in 2014 intended to boost the domestic manufacturing sector and also augment investment into the country. This article comprehensively covers details on the Make in India Scheme as its objectives, schemes & initiatives under it, 25 focus sectors, advantages, challenges, & progress related to it. The government wants to revive the lagging manufacturing sector and spur the economy's growth. The government also intends to encourage businesses from abroad to invest in the country and also to manufacture here, by improving the country’s ‘Ease of Doing Business’ index. The long-term vision is to develop India into a global manufacturing hub and also to boost employment opportunities in the country. Manufacturing plays a vital role in India. But sound policies and facilities are needed for land procurement, labour laws, power tariffs, transport, and logistics. The problems on the grass-root level need to be understood and addressed.