Best Make In India Essay 2019-20

Must Read!!! Make In India Essay

Hello there here we are again with yet another essay. this time we have the most common Make in India essay that appears in the majority of exams for students.

make in India essay pdf

make in India essay in English

What is Make in India ? in the month of September 2014 the Prime Minister Narendra Modi had announced the ambitious policy of make in India and according to the making India policy the centerpiece of this make in India was the national manufacturing policy so national manufacturing policy was given the utmost importance according to the national manufacturing policy the aim of this policy was to increase the share of the country’s GDP in manufacturing from 16 percentage to 25 percentage

by the year 2022 so at present all when this was announced the percentage of GDP contribution by the manufacturing sector was 16 percentage and according to the policy which aims to increase the contribution of GDP from the manufacturing sector to 25 percentage by the year 2022 another target of this policy was to create 100 million more jobs so addition of 100 million jobs by the year 2022 so these were the two most important targets of this policy and this policy also sets out 11 concentration areas

so 11 concentration areas which means 11 sectors which are to be given more concentration or more attention and also there were 25 forecast sectors so addition to 11 concentration areas there were 25 more focus areas which mean those areas which can give good results and which needs more focus, for example, automobile sector has huge scope and also the sector needs more focus other sectors like defense manufacturing or medical types of equipment etcetera are also included in the focus areas so 11 concentration areas and 25 focus areas as

essay on make in india

make in India essay UPSC

we said this was introduced by the Prime Minister in the year 2014 September so this making India policy was announced and coming down in the year 2016 February the Prime Minister announced the make in India week so a week was set apart as making India week and during that period the prime minister said that progress has been made on the manufacturing agenda

so Prime Minister said there is a progress with the making India program so that was in the year 2016 again in 2017 the Parliamentary Standing Committee on Finance so Parliamentary Standing Committee on Finance this committee issued a report questioning the impact and implementation of the Make in India initiative so the Parliamentary Standing Committee on Finance as the parliament

Facts On Make In India Essay

in order to give an answer on what are the impact and what is the implementation of the Make in India initiative or what is the progress making India has made what is the contribution it has given to the economy and as an answer to the Parliamentary Standing Committee on Finance the DAV we suggested or cited a number of measures have been taken under the make in India

initiative so now coming to the make in India initiative making any initiative has three main targets so if we look at the important targets of making India it can be divided into three the first one is to attract foreign investment so attracting foreign investment or attracting capital from foreign countries was one important target of making India initiative so make in India aims at attracting foreigners or foreign investments in order to improve the investments in the country so attracting foreign investment secondly the main target of making India was to cut down imports so cut down imports which means

 

Essay on Make in India

we should become self-sufficient so we should reduce the dependency on import in order to have a favorable balance of trade or we can say that it aims to and thirdly the main target was to encourage domestic production so encouraging domestic production or production within the economy now let us take each target each important targets one by one first of all attracting foreign investment after the make in India initiative was announced we will see radical changes and simplification in FDA policy foreign direct investment policy has been simplified FDI foreign direct investment which means unless else can invest

make in india essay

in the form of infrastructure technology etc so this is a kind of direct investment where the investor makes investments in infrastructure or the technology itself so we will see there has been simplification in the FDI policy and this simplification has led to making India one of the most open economies in the world the SBA limits have been liberalized what does it mean it means that earlier the FDA limit was set a certain cap now there is no cap all it has been liberalized most of the sectors have given

100 percent is FDA and you will also notice that foreign English Foreign Investment Promotion Board was also abolished FIP B or the Foreign Investment Promotion Board was the authority to give approval through the government route so that is also being abolished which means F day has been liberalized to a larger extent so as a result of all this we will see that in the two years the FDA sector has grown by 23 percentage or there has been an increase in the FDA or foreign investment by 23 percentage within the initial two years of the

Initiatives of Make In India 

implementation of make in India secondly coming to cutting down the inputs why should imports come down because we have already seen when imports are more than the exports what will happen there will be a current account deficit so the current account deficit will widen and this will affect the value of currency so when in both are more than exports which means that the demand of Indian rupee is less and therefore than people depreciate it will lead to depreciation of rupee and the forex reserves of the country also will come down and it will have serious implications so for any economy the economy must focus on improve exports and cutting down

the inputs but here we will notice that the non-oil imports of our country have gone up vine on oil imports because oil is an essential commodity and we are highly dependent on imports for our oil requirements but non oil imports have not a necessity in the country so no oil imports have gone up means the imports of the country have gone up also coming to the export side we will notice that industries like the leather that cells and the pharmaceuticals have lost competitiveness so all this has led to increasing in net imports and thirdly increasing domestic production was another main target of making India initiative so making India aimed at making

India and manufacturing change here also we will see that there has been no significant improvement in the domestic production so what has made an improvement is foreign investment the foreign investments in the country has increased we were able to attract more foreign investors to our countries we have seen what is the position of making India or what are the achievements or what it has achieved till now so now let us see what are the way forward or solutions to overcome this challenges so way forward first of all

Challenges Of Make In India 

it is necessary to create a manufacturing strategic plan for the nation and its states so what is required is manufacturing strategic plan there is always a difference between plan and the policy so making a major policy initiative from the side of the government so policy may give some targets like 25 percentage GDP contribution from the manufacturing sector or creating additional hundred million jobs by the year 2022 so these are all targets and this is given under the policy but plan is entirely different from policy

so plan something which translates policies into action so climb discusses how we can achieve it or what are the means to achieve it Adira so under plans there will be a few more things included like the key result area so which means who will give results example infrastructural development if there is infrastructural development it will provide results key drivers like the critical factors or sources which can help us achieve the target so key result will be their key drivers will be there in case of key drivers we already said automobile sector it has large scope so it can give a competitive advantage also under plan it will be specified who will be the key partners

for example who are mutually beneficial for us example the US you versus u.s. and India they are mutually beneficial to each other so such things will be mentioned in that plan but in the policy all these things need not be there so crafting a national manufacturing strategy plan is very important and who will make this plan an independent commission can be set up so these are all recommendations so an independent commission can set up this strategic plan and this commission can include people from various sectors

like from business from education from government from academics etc secondly it is necessary to reform the rigid and multiple labor laws so rigid and multiple labor laws should be reformed when we say widget it means complicated labor laws in India complicated and then we say multiple it means that there are more than one labor law there is no uniform labor law if we take the example of India we have 44 central laws and around 160 state laws for labor so this has made labor laws very complicated for instance extensive

Short Essay on Make in India

approvals are required for hiring and firing of labor in India so this will provide Rd motivation for the entrepreneurs to expand their business for example MSM is MSME sector contributes around 40 percentage of India’s exports because of the rigid labor laws they have a tendency to stay small they have no motivated to expand their businesses they are not able to make use of the economies of scale if we take a case study of the Bangladesh garment sector the garment manufacturing industries are of larger size

so because of the large size of the manufacturing industries they are able to make benefits of division of labor they are able to make benefits out of formal credit labor welfare etcetera so they can immensely grow and this will add on to the exports of the country so if the size of the firm is large if we take the Bangladesh case study from their example we will understand that he is the size of the farm is large they can make utilization of the division of labor they can have access to formal credits the wages of the

labor will increase which will add on to standard of living of the people and exports also will increase because the production is high they can also make use of economies of scale so in India what happens the firms are not motivated to grow or expand their business because of the rigid labor laws so once addition is that a common labor code is required like the GST we have a common tax structure

likewise we need a common labor code also a common labor code is required thirdly another suggestion is that the state governments if they follow the D IPP guidelines the IPP guidelines if the follower dibs guidelines and implement necessary changes they will be able to perform better so the IPP guidelines should be implemented fourthly land acquisition is a difficult process in India

Conclusion Of This Movement

so land acquisition has certain problems the cost of the land is very high and it is also difficult to acquire land because of many processes involved and this leads to increase in the cost of production for the entrepreneur so if a person wants to start a business he is not able to a query and the the land cost is high or it is difficult for him to go through the processes and then acquire land which means the cost of production for the entrepreneur goes up and this be more it’s the entrepreneur to invest in business so what is a solution for this the solution can be to set up a land bank corporation what is a

land bank corporation should give detailed audit of government land available so it gives details about the government land that is available there must be some land available with the government which is unused so whatever land the government has unused this land bank corporation should be giving a detailed audit of such land for example railway we have some unused land public sector undertakings

Resolution Make in India essay

PSUs will have some unused land Airports Authority of India has some unused land Ministry of Defense also has unused land so all this will lead to vast land resources in India being unused so a land bank corporation can give a detailed audit of such land and make this land available for utilization government can provide this land to entrepreneurs who are willing to invest at cheaper cost if we take a case study example Odisha government the Odisha state government has tried to address this issue of land acquisition

what the government has done this the government reserved around sixty thousand acres of land so the 60,000 acres of land were reserved under the land bank project so a land bank project was created and this land was reserved under this and the entrepreneurs who are willing to make investments were allotted this land at cheaper cost so this legislation by the Odisha state government came after they lost the Posca investment so we have already discussed in a previous lecture about the post co-investment

how it was difficult for the post co company to acquire land in the state of Odisha and this led to the government in making this legislation so in short we can say that the investors should be incentivized in order to invest more so when the investment in the economy goes up manufacturing in the economy also increases jobs will be in the economy and these two are the main targets of making India program so incentivizing investors or promoting them to invest is necessary.

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