Chinese Slowdown: Opportunity to make “Make in India “Really Matter

Indian economy has been on the positive side of growth for quite some time now and has been the main source for tapping intellectual and skilled manpower for the top corporates all over the world. Indians are now at the pinnacle of corporate success; from Microsoft to Pepsi we have Indians at the helm of affairs at many of the Fortune 500 companies in the world. There has never been dearth of skilled and intellectual manpower in India but still we have not been able to convert that into the exponential growth of the economy as we should have done, while our neighbor China through its systematic and methodological approach over last few decades has transformed its economy and infrastructure considerably and is an economic juggernaut now, and is well on the way of becoming a super power. The main drivers of growth for China has been its manufacturing sector which has elevated China into an entirely new trajectory and made it the manufacturing hub for the world be it Apple or Nike, everyone is manufacturing their products in China and we find the “Made in China” tag on almost all the top branded products but India on the other hand due to its lackluster attitude, slow clearance speed and a web of archaic laws, regressive rules and regulations, is far behind in the manufacturing sector and has only been able to just lick the proverbial manufacturing pie. India, in comparison to China is not seen as a favorable investment destination. Keeping all that in mind India launched its “Make in India” campaign to portray itself as a favorable and safe investment and manufacturing destination the world over and to attract the foreign investment its way by providing a number of facilities such as speedy approval, less stringent rules and regulations etc. This paper is an attempt to understand the reasons for the phenomenal growth of Chinese manufacturing sector and what are the lessons we can take from that and moreover it attempts to understand the changes which are needed in the Indian setup to fulfill the aim behind this ambitious campaign and how we can transform it from a concept to reality.