Demystifying ‘Make in India’

Demystifiying Make in India

There is a wave of optimism and rejuvenation that has overwhelmed the nation owing to the pioneering initiatives launched by the Government of India recently. The ‘Make in India’ program is one such ambitious initiative which can potentially usher in a new dawn on the Indian economic horizon. The Government has zeroed in on 25 important sectors such as automobiles, pharmaceuticals, aviation, chemicals, railways, ports, hospitality, tourism, IT and many more. This will harness the true potential of millions of young minds craving for opportunities to empower themselves and contribute to India’s growth story. Most importantly it shall fulfill the prime motive of transforming India into a global manufacturing hub with lucrative growth opportunities.

The cornerstone for the ‘Make in India’ campaign is creation of an environment conducive to set up manufacturing units in India. This implies introduction of major economic reforms, simplifying the administrative processes and relaxation of rigid regulations in applying for licenses. Thus a paradigm shift can be observed in the way our bureaucracy functions where the Government does not merely act as a permit issuing body but as a business partner to investors focusing on their ease of doing business. This shall create a positive sentiment among investors attracting more FDI in the manufacturing sector.

India is one of the fastest growing economies in the world along with a vibrant demographic profile. A huge demand makes India a favored destination for global manufacturing. Large firms setting up their operations in India will not only lead to inflow of funds but also result in influx of advanced technology and expertise. The large volume of products manufactured in the country will increase the exports which will help to improve its trade index. To capitalize on this front, the development and expansion of ports and warehouses will gain momentum. This will trigger the development of best-in-class infrastructure and streamlining of the supply chain which is the need of the hour for India to achieve its dream of becoming a super power.

India boasts of being a young country which makes it imperative that this characteristic becomes its biggest asset and not a liability. The true success of ‘Make in India’ campaign will be judged from its ability to provide job opportunities to millions of youth in the country. This will further augment the per capita income of the country and foster the standard of living of its people. What makes this initiative stand out is its emphasis on entrepreneurship and skill development which will promote innovation and research. This campaign will be complemented by the ‘Zero Defect, Zero Effect’ model which shall provide an impetus to lean and green manufacturing. The focus on promoting manufacturing growth with thorough consideration of its environmental impact will lead to sustainable development of the country.

It is rightly said that “Well begun is half done”. But to ensure this campaign delivers the results, transparency and sincerity in implementation of the policies and reforms is of great importance. The Indian Universities can contribute substantially towards the success of ‘Make in India’ by shouldering the responsibility of developing an employable and capable workforce. It is time to ponder upon the question that are we prepared to grasp the opportunities this ‘Make in India’ campaign shall bestow upon us in the near future? With such a dynamic business environment it is necessary that today people upgrade themselves and hone their skills and knowledge.

Thus, it has become all the more important that not only students but also working professionals pursue an MBA course not with the aim of attaining another degree but with the desire of improving their capabilities and skills. With the motive to give wings to this thought the ITM University Online was launched by the ITM Group of Institutions. ITM University Online, one of the leading Indian institutions is therefore reinventing itself by introduction of interactive online MBA courses to cater to the requirements of the industry and aspirants. Today, India is at the verge of witnessing a reformation capable of exploiting the true potential of its resources. This initiative proves to be a growth engine which can be fuelled by our thoughts and actions such that it becomes an epitome of success.