By Shubam Kumar
India has always been a craving destination for performing business and foreign investments for the globally acclaimed companies. Being the country with highest ratio of consumers in all of Asia, it is considered as a major market. But, the major setback, retaining the corporate sector for being hesitant in intensifying industrialization in India is its non-business savvy policies.
This perspective of Indian economy went through a massive change after the commencement of General Elections in 2014 which led to the Prime Minister of India Narendra Damodardas Modi led BJP coming into power. The reason was the “Make in India” development initiative launched by the PM Modi 15 months ago on 25th September, 2014.
The goal of this initiative is to boost-up the manufacturing sector of India by attracting overseas and domestic companies by transparent business policies and cooperating economic environment. Spanning to 25 sectors of development from Automobiles, Automobile Components, Aviation, Biotechnology, Chemicals, Construction, Defense manufacturing, Electrical Machinery, Electronic systems, Food Processing, Information Technology and Business process management, Leather, Media and Entertainment, Mining, Oil and Gas, Pharmaceuticals, toPorts and Shipping, it is a major step to boost up India’s economic status in the global frontier.
Major projects leading to boost-up the still manufacturing sectors of India are seen as major game changers once its’ implementation. The Delhi-Mumbai Industrial Corridor, Bengaluru-Mumbai Economic Corridor, Chennai-Bengaluru Industrial Corridor Project, Vizag-Chennai Industrial Corridor, Amritsar-Kolkata Industrial Corridor are the live projects which are expected to cast upon major impetus upon the GDP of India by 2022.
Foreign companies such as Xiomi, Lenovo have started manufacturing units in India under, “Assemble in India” scheme. Major FDI’s from global companies like Google, Facebook to provide connectivity and information to remote parts of Indian terrain and active participation of countries such as Japan and Singapore to further support India’s cause both technically and financially appears as a good sign for a prosperous step towards development for India.
India in the rise of the 21st century is in the need of a major makeshift with rising population and unemployment raging off charts. These policies depict the active participation of the Government of India and are truly commendable. India’s youth brimmed-up with energy is in the direst need of opportunities and these initiatives would provide the required platform to outshine their talents and capabilities. With the goal urbanization and industrialization “Make in India” will truly empower India with millions of jobs and gateways to emerge as a global power.