Make in India is a scheme that literally can be explained as an initiative to enhance manufacturing in India. There are many products that are simply assembled in India but the manufacturing of the product is carried on in some other countries. Ultimately the products and goods are imported by our country. The symbol of this scheme is a Lion which represents the king of the jungle with confidence and pride. The wheels on the body of the Lion signify progress and development.
The Vision behind Initiating the Scheme - Make in India
The scheme made in India is launched to achieve some objectives. These are enlisted below:
- Make India a Global Manufacturing Hub: The main objective of this scheme is to enhance the manufacturing of different products and develop into a leading manufacturer of various products by involving foreign investments. This will also help India in developing its relationship with all the countries.
- Boost the Country’s Economy: This scheme involves the process of manufacturing products in our own country and supplying the finished goods to the whole world. This will increase the production capability of the country and thus help in economic growth and development.
- Provide Employment to Masses: It requires more set up of industrial units to foster the manufacturing process. The newly built industries will have the need of working people. Therefore there will be the creation of different jobs which will provide employment to a number of people. This will also help in raising the economy of the country.
- Achieving 25% GDP till 2025: The contribution of the manufacturing sector is 16-18% approximately at present but the scheme Make in India focuses on making this rate 25% till 2025.
Various Sectors Recognized by the Government to Make Them Self-Reliant
There are different sectors recognized by the Government which have to be worked upon to make those sectors self-reliant. There are total of 25 sectors in the list namely: Automobiles, Automobile Component, Biotechnology, Aviation, Chemicals, Defence Manufacturing, Defence Export, Electronic System, Electrical Machinery, Food Processing, Information Technology, Leather, Media and Entertainment, Mining, Oil and Gas, Pharmaceuticals, Ports and shipping, Railways, Renewable energy, Road and highways, Space and Astronomy, Thermal power, Tourism, Textile and garments, Wellness and health care.
The foreign investors will help in funding the sectors which are facing financial issues. The incurred profit after manufacturing will provide benefit to the country’s economy as well as a foreign investing firm.
Advantages and Disadvantages of the Scheme “Make in India”Advantages:
- The raw materials required for the manufacturing of different products is mostly available in our country. By promoting this scheme there will be proper utilization of the resource in our country only.
- This scheme will provide a chance for people having talent and skill. There will be various openings for the employment of employed masses.
- This scheme will be helping in enhancing the economy of our nation.
- This scheme is catching the interest of several foreign investors to set up their businesses in India and supply their products worldwide.
- The successfulness of this scheme will be helping in eradicating poverty. The lifestyle of people in villages will also improve as most of the people will be employed. The construction of industry near any village or town creates a lot of opportunities for the people of that area.
- The development of new industries will be causing a great loss to the environment. It will degrade the quality of water, air, and soil in that area.
- This will create ignorance for the agricultural sector. No one will be paying heed towards agricultural works.
- The small businesses will suffer a great loss. They will face greater competition from foreign investor companies.
- This will surely destroy the relations from countries which have already established in the same field as no one desire to invite competitors.
The scheme Make in India will help in the development of the country in various ways. The proper execution of policy will slowly eradicate the problem of poverty and unemployment from our country.