MAKE IN INDIA
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
much-hyped emerging markets bubble had burst, and India’s growth rate
had fallen to its lowest level in a decade. The promise of the BRICS
Nations (Brazil, Russia, India, China and South Africa) had faded, and
India was tagged as one of the so-called ‘Fragile Five’. Global investors
debated whether the world’s largest democracy was a risk or an
opportunity. India’s 1.2 billion citizens questioned whether India was too
big to succeed or too big to fail. India was on the brink of severe
economic failure, desperately in need of a big push.
Make in India – Schemes
Several schemes were launched to support the Make in India programme.
These schemes are discussed below:
Skill India
This mission aims to skill 10 million in India annually in various sectors. Make
in India to turn into a reality, there is a need to upskill the large human
resource available. This is important because the percentage of formally
skilled workforce in India is only 2% of the population.
Startup India
The main idea behind this programme is to build an ecosystem that fosters
the growth of start-up’s, driving sustainable economic growth, and creating
large-scale employment.
Digital India
This aims to transform India into a knowledge-based and digitally empowered
economy. To know more about Digital India, click on the linked page.
Pradhan Mantri Jan Dhan Yojana (PMJDY)
The mission envisages financial inclusion to ensure access to financial
services, namely banking savings & deposit accounts, remittances, credit,
insurance, pension in an affordable manner. Click the linked article to know
more about Pradhan Mantri Jan Dhan Yojana (PMJDY).
Smart Cities
This mission aims to transform and rejuvenate Indian cities. The goal is to
create 100 smart cities in India through several sub-initiatives.
AMRUT
AMRUT is the Atal Mission for Rejuvenation and Urban Transformation. It
aims to build basic public amenities and make 500 cities in India more liable
and inclusive.
Swachh Bharat Abhiyan
This is a mission aimed at making India more cleaner and promoting basic
sanitation and hygiene. For more information on Swachh Bharat Mission,
click on the linked article.
Sagarmala
This scheme aims at developing ports and promoting port-led development in
the country. Read more on the Sagarmala Project in the linked article.
International Solar Alliance (ISA)
The ISA is an alliance of 121 countries, most of them being sunshine
countries, which lie either completely or partly between the Tropic of Cancer
and the Tropic of Capricorn. This is India’s initiative aimed at promoting
research and development in solar technologies and formulating policies in
that regard.
AGNII
AGNII or Accelerating Growth of New India’s Innovation was launched to push
the innovation ecosystem in the country by connecting people and assisting
in commercializing innovations.
Make in India – Objectives
There are several targets aimed by the Make in India mission. They are:
1. Raise in manufacturing sector growth to 12-14% per year.
2. Create 100 million additional jobs in the manufacturing sector by 2022.
3. Increase in the manufacturing sector’s share in the GDP to 25% by 2022.
4. Creating required skill sets among the urban poor and the rural
migrants to foster inclusive growth.
5. A rise in the domestic value addition and technological depth in the
manufacturing sector.
Conclusions
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