Make In India Initiative: Conceptual Understanding

The Make in India initiative was launched by Prime Minister in 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 muchhyped emerging markets bubble had burst, and India's growth rate had fallen to its lowest level in a decade. The aim of the project showing a pure classical economics there is going to be a demand and then there would be producers who would be incentivized to supply goods and Services to meet that demand. The Indian government through this initiative aims to put to use its rapidly increasing workforce to productive use, realizing that service sector though contributing about 55–60% of the GDP cannot be the sole driver of the economy. In the present paper an attempt has been made to throw some light on the concept of `Make in India’. Further, an attempt has also been made to review the advantages of this concept and the areas which are going to gain benefit with this Modi's concept of Make in India. This paper is based on secondary data extracted from various authenticated websites such as makeinindia.com, narendermodi.com, infraline.com, World Bank and various newspaper articles.