– By Nikit Popli
Launched in 2014, Make in India was an ambitious call to turn India into a global manufacturing powerhouse. The initiative aimed not only to bolster India’s economy but also to create jobs, attract foreign investment, and foster a self-reliant industrial ecosystem. Ten years later, the program has transformed many sectors, redefined India’s economic strategy, and set the nation on a promising path—albeit with hurdles along the way.
The Vision: A Manufacturing-Driven Economy
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At its inception, ‘Make in India’ was motivated by the need to shift India from a predominantly service-led economy to one where manufacturing plays a central role. The goal was to increase the manufacturing sector’s GDP share to 25% by 2022, a target still unmet but closer in reach. The initiative’s vision was underscored by three core objectives: to increase manufacturing’s GDP contribution, reduce reliance on imports, and generate employment for millions of Indians.
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Attracting Investment and Building Infrastructure
Make in India spurred significant foreign investment inflows, especially in industries like electronics, automobiles, and renewable energy. Major companies have set up production facilities in India, bolstering job creation, technological advancement, and export potential. With its promising talent pool and cost-effective labor, India became increasingly appealing as a manufacturing hub for global players looking to diversify beyond China.
Alongside investment, the government’s emphasis on infrastructure has been crucial. Industrial corridors like the Delhi-Mumbai Industrial Corridor (DMIC) have emerged, connecting manufacturing clusters to major ports and streamlining logistics. Infrastructure investments in railways, highways, and ports have facilitated the movement of goods across regions, reducing costs and enhancing productivity.
Policy and Regulatory Reforms
Make in India spurred some of the most ambitious policy reforms in decades, improving the ease of doing business and simplifying regulations. Notably, India’s rank in the World Bank’s Ease of Doing Business Index improved from 142 in 2014 to 63 in 2019, reflecting streamlined processes in business registration, permits,
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