“MAKE IN INDIA” an initiative taken by the Prime Minister of India on 25th of September in 2014. It was launched with an idea to attract investors from all over the world to invest their money in India. In order to accelerate the growth of the Indian Economy and to enhance the credit cycle this stands to be one of the best initiative one can take. The logo of the Make in India movement has a lion with many wheels. his indicates peaceful progress and way to the vibrant future of the country. A giant walking lion with many wheels represents courage, strength, tenacity, and wisdom.
The movement will help to improve the infrastructure of the economy. It is very effective to establish a global network and a global business . The increase in the competition lets the existing businessmen to enhance their skills and grow their business with innovation and other effective measures. The movement helps in increasing employment and creating jobs. The importance of growing production along with an increase in productivity is major for an economy and with this movement the production and productivity both can be increased thus encouraging Exports that further helps to maintain a Balance of trade.
The movement increases employment oppurtunities and also encourages the youth to encourage their skills.
It will help the country to become self reliant and also the “vocal for local” can be achieved by Make in India movement.
It will help the companies to Improve its brand value and also stand as global competitor worldwide.
It will contribute positively to the growth of Indian GDP and enhance the credit cycle too.
It reduces the Brain drain , that is, if the Indian investors are planning to move out of the country it will discourage them and encourage them to invest in their own country.
This will benefit 25 sectors of the economy including automobiles, pharmacy, hospitality, tourism,IT, textiles, port etc .
Reduction in Imports, since the greater production of goods with better quality will soon replace the foreign products and hence would out-turn in the reduction in imports.
Cost effective , as the production will now be on a large scale and thus there will be Economies of scale thus leading to reduced cost.
With the improvement of technology on such a dynamic basis , Make in India helps to upgrade the technology.
Hence, for reducing unemployment and developing the Indian Economy as a whole it is important to take such decision and also to implement it in the most effective manner. The country would reach heights and this movement can bring laurels for the economy of India.