SSC-CGL (TIER-III) - Make in India
Category : SSC
Make In India
What it is
Problems faced by manufacturing sector
Way ahead
THE ESSAY BEGINS…
Launched in 2015, this program aims at increasing manufacturing in India, by encouraging domestic production and international investment, so as to make India a manufacturing hub by 2022. Designed to cure the ills Indian manufacturing sector had been suffering, with a stagnant share of 15% of GDP, it lays emphasis on 25 sectors.
Entry and exit problems, with red tapism and corrupt bureaucracy were often cited as the major obstacles standing in the way of investment, and a one-stop solution was found for these in the form of digitalization, thus ensuring the ease-of-doing business standards.
The removal of caps in FDI in all major sectors has opened Indian economy to a new era which has been responded to by international investors. A robust intellectual property law is also the need of the hour to protect the interests of the innovators, which will lead to more start-up firms, thus increasing employment.
For the scheme to work, quality education should be ensured to Indian youth, thus ensuring their employability, which needs more than the present education expenditure of 2.1 % of the GDP. The long-awaited GST should also be passed in order to simplify the tax system, along with the simplification of land acquisition and labor laws.
Being an export-led growth strategy, we shouldn't let this weaken the domestic market and quality and competition should be maintained.
India becoming a global manufacturing hub is a matter of pride, but true development can happen only when the benefits of this reaches the impoverished Indians.
You need to login to perform this action.
You will be redirected in
3 sec
