ECONOMI

Cs
PROJECT
Index
 CERTIFICATE

This is to certify that Project is successfully completed by …...

………………………………………… of Class: XII, Section:
Gr. No.: …………………... for the academic year 2020-2021.

Teacher-In charge

External Examiner Internal Examiner

Teacher-In charge
(Subject Teacher)

Date:
 Acknowledgement:
I, ____________________________________ of class XIIth-

would like to express our sincere gratitude to our Economics teacher Mrs.Mymoona

Abbas, for her vital support, guidance and encouragement – without which this project

would not have come forth.

We would also like to express our gratitude to our school INTERNATIONAL

INDIAN SCHOOL, RIYADH for all support

Make in India - The Way Ahead
 MAKE IN INDIA -
INTRODUCTION

The Make in India initiative was launched by Prime Minister in 25 September 2014
as part of a wider set of nation-building initiatives. Devised to transform India into
a global design and manufacturing hub, Make in India was a timely response to a
critical situation. By 2013, the much-hyped emerging markets bubble had burst,
and India’s growth rate had fallen to its lowest level in a decade. The promise of
the BRICS Nations (Brazil, Russia, India, China, and South Africa) had faded, and
India was tagged as one of the so-called ‘Fragile Five.’ Global investors debated
whether the world’s largest democracy was a risk or an opportunity. India’s 1.2
billion citizens questioned whether India was too big to succeed or too big to fail.
India was on the brink of severe economic failure, desperately in need of a big
push.
Make in India was launched by Prime Minister against the backdrop of this crisis
and quickly became a rallying cry for India’s innumerable stakeholders and
partners. It was a powerful, galvanising call to action to India’s citizens and
business leaders, and an invitation to potential partners and investors around the
world. But Make in India is much more than an inspiring slogan. It stands for a
comprehensive and unprecedented overhaul of outdated processes and policies.
Most importantly, it stands for a complete change of the government’s mindset –
a shift from issuing authority to business partner, in keeping with Prime Minister's
tenet of ‘Minimum Government, Maximum Governance.’

ABOUT LOGO -

The logo is the silhouette of a lion on the prowl, made entirely of cogs, symbolising
manufacturing, strength, and national pride. The national emblem, Ashok Chakra,
also has four lions.

In Indian folklore, the lion denotes the attainment of enlightenment, besides

representing power, courage, pride, and confidence.
 PROCESS OF MAKE IN INDIA

“Make in India” recognizes an ongoing global campaign and ease of doing business are the two
important factors to give a boost to entrepreneurship not only in the manufacturing sector but also
in other sectors.

“Zero Defect Zero Effect” slogan emphasizes on production cycle. It means that
producing goods with zero defect and there should be no adverse effect on the
environment. Wieden Kennedy designs the campaign with the launch of a portal
and the brochures in different sectors. Norms and procedures about the
manufacturing application are now available online. And validity o licenses
increases to three years.

In the event at Mumbai Metropolitan Region Development Authority ( MMRDA),

around 2500 international and 8000 from domestic, business team from 72
countries, 17 states of India and foreign govt. delegations from 68 countries have
attended “Make in India Week”.The aim is to de-license and de-regulate the
industry during the entire life cycle of a business.
 CHALLENGES

The “Make in India” Campaign is aimed at making India a manufacturing hub

and the government is trying hard to make the investment smooth. The
government has created a dedicated system to answer all the queries of
business entities with 72 hours. This system will closely watch all the
regulatory system to make them simple and rational. The government has
created a concept but the driving through this is not so simple. This concept
will create several challenges for Indian Managers. The author of this paper
has tried to show some of them below.

Creating the Most Enthusiastic and Resolute Team:

The first and the most important challenge for the Indian Managers to make
this campaign successful is to create the most enthusiastic and dedicate them.
The mangers will have to find the hidden talent in the staff members who can
dedicatedly work on the projects.

Creating a Health Business Environment:

Creating a health business environment is perhaps another challenge for the
business development. It has been seen that Indigenous managers have
been most stringent when it comes to innovation and development.

Creating competitiveness of Indian manufactures goods:

Creating competitiveness of Indian manufactured goods is also a challenge
ahead .It is found that Indian products cannot sustain in the foreign
competitive.

To keep pace with technological development:

Fast technological advancement would be the requirement of the future
dates. The Indian managers will have to keep pace with technological
developments taking place abroad. This is perhaps one of the challenges for
them.

New competition from several countries of the world:

The “make in India” campaign will create new competition from several
countries of the world for the Indian managers. They will have to be ready to
tackle this competition.

Development of skills and Talents:

Development of skill and talent in Indian managers and workers is another
challenge. The managers will have to start skill development programs for the
staff members.

Development in the field of research and development:

It has been seen that Indian enterprises are lacking in research and
development. The foreign companies are more advanced in this field as
compared to Indian companies. It will be challenging foe the Indian
companies to make research and development speedier.

Creating labour intensive technology:

Creating labor intensive technology is another challenge against Indian
managers. Since, India is a labor surplus economy, only the development of
technology is not enough, but the labor intensive technology is required. If this
is not taken care of, it will increase unemployment India.

Financial challenges:
Financial challenges are also especially key point to be considered. It has been
seen that the Indian companies prove to be weaker than the foreign
companies in terms financial consideration. The Indian managers are
challenged to find out newer ways and means of generating finance.
 Creating competitive atmosphere for the employees:
Creating competitive atmosphere for the employees is also needed for the
success of Indian enterprises in the competition of foreign companies.
 CRITICISM & CONCERN

Through Make in India campaign, the government has till early October attracted
INR 2000 crore worth of investment proposals. Labor reforms and policy reforms
are fundamental to the success of the Make in India campaign. But it is seen that
it has not yet been implemented. There are many technology-based companies
are not pleased with in the campaign launch and to continue to get their
components which are manufactured by China.

The Make in India campaign is built on layers of collaborative efforts. There has
been from most of Union Ministers, Secretaries to the Government of India, state
governments, industry leaders, etc. A National Workshop on sector-specific
industries in December 2014 brought Secretaries to the Government of India and
industry leaders together to debate and formulate an action plan for the next
three years. they aim to raise the contribution of the manufacturing sector to 25%
of the GDP in the coming years.
 ADVANTAGES & DISADVANTAGES

India is a treasure of natural resources. Skilled and Unskilled Labour is easily

available at lower rates as compared to the other countries. Due to its central
location and outsourcing hub of the world, India is becoming the most preferred
manufacturing destination for the investors across the world. The main motive of
this initiative is to fulfill the demand and boost the Indian economy.

On the other hand, India ranks low on the “ease of doing business index.” Labour
laws are still not updated according to the Make in India campaign. This is one of
the main disadvantages of manufacturing and investing in India.

Here is a quick snap of the advantages and the disadvantages of the make in India:
-

Advantages

 Develops Job Opportunities

 Improves GDP
 Strengthens the rupee
 The brand value of Indian merchandise increases
 Upgradation of technology
 Ease of business
 The flow of capital changes
 Development of rural areas

Disadvantages

 Negligence in the agriculture sector

 Depletion of natural resources
 The loss to small entrepreneurs
 Bad relations with China
 Disruption of land
 OBJECTIVE OF MAKE IN INDIA

Following are the main aims of “Make in India” Campaign.

 To get manufacturing sector grow over 100 percent on sustained basis.

 To make India a manufacturing hub for all manufactured goods.
 To bring inflow of foreign capital on large scale.
 To generate employment opportunities for the Indian youth.
 To create inflow of modern technology in India.
 To create inflow of labor-intensive technology in India.
 To transform the economy from service driven growth
 model to manufacturing driven growth model.
 To unveil investment opportunities for foreign Companies
 NRIs, Investment groups and Investment bodies.
 To create investor friendly environment in India
 . ∙ To make speedy infrastructure growth to create a strong
 base for industrial development
 To make easy licensing provision and speedy approval of the projects
through online portals.
 To integrate all central government services with an e-biz window online
portal.
 To simplify and rationalize the regulatory atmosphere.
 SECTORS COVERED

The Campaign called “Make in India” launched by the PM Mr. Narendra Modi
covers all the sector. The coverage of this campaign can be listed as follows.

 Automobiles
 Food Processing
 Renewable Energy
 Automobile Components
 IT and BPM
 Roads and highways
 Aviation
 Leather
 Space
 Biotechnology
 Media and Entertainment
 Textiles and garments
 Chemicals
 Mining
 Thermal Power
 Construction
 Oil and Gas
 Tourism and Hospitality
 Defense manufacturing
 Pharmaceuticals
 Wellness
 Electrical Machinery
 Ports
 Electronic Systems
 Railways
 INFRASTRUCTURE SUPPORT

To make the “Make in India” Campaign successful, the government has already
created a healthy infrastructural facility for the speedy development of
manufacturing sector. Below given are the highlights of this infrastructure
development:

⮚ More emphasize on the development of Industrial Corridors and Smart

Cities.
⮚ A new “National Industrial Corridor Development Authority” is being
established to develop and supervise the Industrial Corridors.
⮚ Delhi-Mumbai Industrial Corridors, Dholera, Shendra-Bidkin, Greater
Noida, Ujjain and Gurgaon are the five smart cities in progress.
⮚ Chennai Bengaluru Industrial Corridor: Master Planning for three new
industrial nodes viz., Ponneri, krishnapatnam, Tumkur are in progress.
⮚ The East Coast Economy Corridor is being commissioned with Chennai Vizag
Industrial Corridor in its first phase.
⮚ North-Eastern part of the country is to be linked with other industrial
corridors with the co-operation of government of Japan.
⮚ Development of new Industrial Clusters for promoting advance practice in
manufacturing.
 ⮚ Approval of twenty-one industrial project with the emphasize on use of
recycled water through zero liquid discharge system and central Effluents
Treatment Plants.
⮚ Approval of seventeen national investment and manufacturing zones.
⮚ Creation of 1033 ports
⮚ Further up gradation of IT facilities
⮚ Application process made online
⮚ Planned to train 144000 youth annually

These are just the highlights of the infrastructural facilities developed by the
government. These are a lot more development made under this campaign.
 MANUFACTURING PROJECTS

With this initiative, many manufacturing projects were started. Some of them are:

 Pidilite Industries Ltd approves the acquisition of the adhesive business of

Blue Coat Pvt Ltd for a cash consideration of Rs 263.57 crore (US$ 43.08
million).
 Mr. Yoichi Lbi, president, and CEO of Toshiba Group plans to make India the
design, manufacturing, and export hub for its lighting business. They also
multiply the local headcount to design lights for planned smart cities
airports, stadiums, highways, warehouses, and factories.
 Deepak Nitrite Ltd (Chemical manufacturer) plans to invest a sum of
Rs1,200 crore (US$ 196.18 million) in India. They plan to start a plant for
manufacturing phenol and acetone in Dahej, Gujarat.
 Sesa Sterlite will spend up to Rs 8,000 crore (US$ 1.31 billion) to expand its
Lanjigarh refinery in Odisha with the following consent from villagers in the
next three to four years
 FOREIGN DIRECT INVESTMENT

The investment climate in India has improved considerably since the opening up
of the economy in 1991. This is largely attributed to ease in FDI norms across
sectors of the economy. With an aim to attract and promote FDI, Government of
India (GoI) has put in place a policy framework on FDI, which is transparent,
predictable, and easily comprehensible.
India received record FDI of $223 Bn during 2014-18. Sectors such as Services,
Computer software & hardware, Telecommunications, Trading, Construction
attracted the highest FDI .

 Lottery Business including Government/ Private lottery, online lotteries etc.

 Chit Funds
 Trading in Transferable Development Rights (TDR)
 Manufacturing of Cigars, cheroots, cigarillos, and cigarettes (tobacco or
tobacco substitutes)
 Gambling and betting including casinos
 Nidhi Company
 Real Estate Business or Construction of Farm Houses
 Sectors not open to private sector investments – atomic energy, railway
operations (other than permitted activities mentioned under the
consolidated FDI Policy)
 Foreign technology collaboration in any form including licensing for
franchise, trademark, brand name, management contract is also prohibited
for Lottery Business and Gambling and Betting activities
 Real estate business shall not include the development of town shops,
construction of residential/ commercial premises, roads or bridges and Real
Estate Investment Trusts (REITs) registered and regulated under the SEBI
(REITs) Regulations, 2014 .
 NEWS AND STATISTICS

The manufacturing sector is expected to reach US$ 1 trillion by 2025 and

contribute about 25% to India's GDP. Under the Make in India programme,
indigenous manufacturing is expected to increase by 12-14% per annum over the
medium term. As per the World Bank, manufacturing contributed about 16% to
the country's GDP in 2016. This is on the higher side when compared with the
global average of about 15% in 2015.
 OBJECTIVE OF MAKING PROJECT

Purpose of Make in India? It is to make one of the most pollutant country India a
cleaner country again. The Swachh Bharat Abhiyan, etc was all taken up to make
India clean again. I, myself , have never seen someone in the country to take such
initiative. I think the Make in India is a great act, it inspires people, be it Indians, or
even people foreign to India.

But the thing is, any act works, if the people actually want it to. Now I have seen
people in my life who abuse ‘The Swachh Bharat Abhiyaan’, now they think they
are the cool type but it is the opposite, when someone takes the initiative to do
something, you better respect that. They just abuse it and litter. I ask, not to them,
but myself, What is the purpose of the act, what is the purpose of benefitting the
people who are prone to, or are already suffering things such as Asthma,
Bronchitis etc!

Then again, its India, we do the opposite as the Government wants us to do, and
then, the same people comment on them saying, The Indian Government is
corrupt. Such a pity.
 CONCLUSION

In this way, “make in India” Campaign is a great opportunities for

Indian economy, but at the same time it will pose certain challenges for
the Indian managers. creating healthy business environment,
development of skills, lack in research and development, creating labor
intensive technology, increasing competitiveness of Indian
manufactured goods, are some of the examples of challenges that the
Indian manager will face because of the “make in India “ campaign
launched by the prime minister Mr. Narendra Modi. If these challenges
are tackled constructively, the growth of Indian economy will take a
new pace.
 BIBLIOGRAPHY

 https://www.pmindia.gov.in › major_initiatives › make-in-india

 https://en.wikipedia.org/wiki/Make_in_India
 http://www.makeinindia.com/about
 https://www.ibef.org/economy/make-in-india
 https://economictimes.indiatimes.com/news/india-
unlimited/make-in-india
 https://www.indiatoday.in/news-analysis/story/narendra-modi-
government-nirmala-sitharaman-must-acknowledge-economic-
slowdown-1594747-2019-09-03