MAKE IN INDIA..................

Indian Prime Minister Narendra Modi on 25 September 2014 launched the “Make In India” (MIN) campaign with a high-pitch event held at New Delhi’s Vigyan Bhawan. The campaign aims at reviving the job-creating manufacturing sector, which is being seen as the key to taking the Indian economy on a sustainable high growth path. ‘Make in India’ aims to take manufacturing growth to 10% on a sustainable basis.

How ‘MIN’ came into being?
The origin of the “Make In India” (MIN) campaign is from the Independence Day address of Narendra Modi on 15 August 2014 from the ramparts of the historic Red fort. On that occasion he had given the call for to “Make in India” and “Zero Defect : Zero Effect” policy. He and his government followed that call and came up with the vision document on ‘Make In India’. This vision document put emphasis to achieve a 10% annual growth in manufacturing sector.
Important features of ‘Make in India’
– It aims to attract foreign companies to set up factories in India and invest in the country’s infrastructure.
– It aims to transform the economy from the services-driven growth model to labour-intensive manufacturing-driven growth. This is expected to create over 10 million new jobs annually.
– 25 key sectors have been identified in which India has the potential of becoming a world leader. These include automobiles, chemicals, IT, pharmaceuticals, textiles, ports, aviation, leather, tourism and hospitality, wellness, railways, etc.
– A dedicated new portal (www.makeinindia.com) has been especially created to answer queries from business entities.
– Top executives from 3,000 top companies and corporations world-wide were invited to be part of the campaign.
– Indian Embassies around the world also became part of the global campaign.
– The Department of Industrial Policy and Promotion (DIPP) constituted an eight-member expert panel to redress grievances and handle queries of global and domestic investors within 24 hours.
What is expected to be done in ‘Make In India’ campaign?
The Union Govt. is eventually expected to take up policy reforms involving changes in laws to ensure ease of doing business in the country. Besides interfacing with investors, team Invest India will also work with Central and States departments to resolve policy and other issues. Starting a business in India at present needs an entrepreneur to follow 12 procedures, which on an average takes 27 days to complete. Similarly, enforcing contracts takes years. It is expected that significant speed-up in these processes will be dome through ‘Make In India’.

The position of India’s manufacturing sector at present
According to the World Bank data, India’s manufacturing sector contributed 13% to its economic output in 2013. That is its worst record in 10 years. The manufacturing sector’s contribution to gross domestic product (GDP) is even lower than that of Pakistan and Bangladesh. A major reason for such a pathetic situation in manufacturing sector is significantly lower productivity. According to the Economic Survey of 2012-13, even as India’s share of employment in industry is at par with that of other Asian economies, its share of value-added in industry has recently fallen. That basically means India workers have low productivity. In countries such as China, Indonesia and South Korea, the increase in the share of value-added products has commensurated with that of employment. The gap in labour productivity between large and the small size groups in India is in the order of 8:1 compared with 3:1 in Japan, Korea and Taiwan.
How China responded to this challenge from India?
Seeking to retain its manufacturing prowess, Chinese government launched a “Made in China” campaign on 25 September 2014 with a host of tax concessions coinciding with Narendra Modi’s “Make In India” pitch. China will encourage high-tech imports, research and development (R&D) to upgrade ‘Made in China’. Under the new campaign China will use tax breaks to encourage enterprises to upgrade their equipment and increase R&D efforts to improve the manufacturing industry. China’s manufacturing sector, a key driver of its economic growth, is regarded highly competitive in the global market.

Comments

Post a Comment

Popular posts from this blog

NITI AYOG......................

Image
NITI Ayog :- The Government has replaced Planning Commission with a new institution named NITI Aayog (National Institution for Transforming India). A cabinet Resolution issued today gave details of the new institutions.  The institutional framework of government has developed and matured over the years.   This has allowed the development of domain expertise which allows us the chance to increase the specificity of functions given to institutions.  Specific to the planning process, there is a need to separate as well as energize the distinct ‘process’ of governance from the ‘strategy’ of governance. 1). Fullform of NITI Ayog Ans- National Institution for Transforming India Aayog 2). National Institution for Transforming India Aayog replaces- Ans-Planning Commission 3). NITI Ayog was formed on Ans-1 January 2015 4).Chairperson of : NITI Ayog Ans-Prime Minister of India 5).Who is the Present Chairperson of NITI Ayog Ans- Prime Minister Narendra Modi 6). Vice Chairperson: NI
Read more

Coding and Decoding ...........[competitive. exam prep.... topic 20]

Image
Coding is a system of signals. This is a method of transmitting information in the form of codes or signals without it being known by a third person. The person who transmits the code or signal, is called the sender and the person who receives it, is called the receiver. Transmitted codes or signals are decoded on the other side by the receiver—this is known as decoding. Most competitive exams have a dedicated section of Coding –Decoding in Reasoning or Mental Ability. Many of students and readers find difficulty to solve questions based on Coding – Decoding in Mental Aptitude. The Coding and Decoding Test is set up to judge the candidate’s ability. Coding and decoding tips are very useful to those who are preparing for the attending the bank exam IBPS, SBI, LIC AAO, UPSC, IAS, CAT, XAT, MAT, SSC, GATE, and other competitive exams. We have also published the Solved examples for the coding and decoding aptitude. Coding is a process of sending a message from master to slave that
Read more

Calendar ........[competitive. exam prep.... topic 29]

Image
 Most of the students are having difficulties in solving the Calendar problems. The number of days more than the complete number of weeks in a given period, are called odd days. For example : (1) In an ordinary year (of 365 days) there are 52 weeks and one odd day. (2) In a leap year (of 366 days) there are 52 weeks and two odd days. What is the Leap and Ordinary year ? Every year which is exactly divisible by 4 such as 1988, 1992, 1996 et. is called a leap year. Also every 4th century is a leap year. The other centuries, although divisible by 4, are not leap years. Thus, for a century to be a leap year, it should be exactly divisible by 400. For example : (1) 400, 800, 1200, etc are leap years since they are exactly divisible by 400. (2) 700, 600, 500 etc are not leap years since they are not exactly divisible by 400. How to find number of odd days :An ordinary year has 365 days. If we divide 365 by 7, we get, 52 as quotient and 1 as remainder. Thus, we may say tha
Read more