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MAKE IN INDIA

By adarsh shukla

Job Creation and Economic Development and to give the Indian

economy global recognition

INDIA

• India is one of the world's fastest-growing economies.

• The tenth-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP).

Where Are We?•  India has been recording sustained trade

deficits since 1980 mainly due to the high growth of imports, particularly of crude oil, gold and silver. 

IMPORTS•  India is heavily dependent on crude oil imports, with

petroleum crude accounting for about 34 percent of the total imports.

• The country also imports: gold and silver (12 percent of the total imports), machinery (10 percent), electronic goods (7 percent) and pearls, precious and semi-precious stones (5 percent).

• India’s main import partners are China (10.7 percent of the total shipments), United Arab Emirates (8 percent), Saudi Arabia (7 percent), Switzerland (7 percent) and the United States (5 percent).

IMPORTS & EXPORTSA. EXPORTS (Receipts)Exports during October, 2014 were valued at US $ 12146

Million (Rs. 74505.99 Crore).B. IMPORTS (Payments)Imports during October, 2014 were valued at US $ 5942

Million (Rs. 36449.42 Crore).C. TRADE BALANCEThe trade balance in Services (i.e. net exports of Services)

for October, 2014 was estimated at US $6204 Million.

ON INDEPENDENCE DAY• Invited global companies to pick India to

locate factories, promising to replace red tape with red-carpet welcomes.

• To make India break into the top 50 in the World Bank’s ease of business index ranking from the current 134th position.

Zero defect, zero effect• "Our manufacturing should have zero defect

so that our products should not be rejected in the global market. Besides, we should also keep in mind that manufacturing should not have any negative impact on our environment."

ON 25TH SEPTEMBER

• Make in India is an international marketing campaigning slogan coined by the Prime Minister of India,  on September 25, 2014 to attract businesses from around the world to invest and manufacture in India.

Major objective• The major objective behind this initiative is to

focus upon the heavy industries and public enterprises while generating employment in India.

• To facilitate– Investment– Foster innovation– Enhance skills development– Protect intellectual property– To built best-in-class manufacturing infrastructure

The highlights and purpose of Come, Make in India are-

• The campaign, 'Make in India' is aimed at making India a manufacturing hub and economic transformation in India while eliminating the unnecessary laws and regulations, making bureaucratic processes easier and shorter, and make government more transparent, responsive and accountable.

• The government emphasized upon the framework which include the time-bound project clearances through a single online portal which will be further aided by the eight-members team dedicated to answering investor queries within 48 hours and addressing key issues including labor laws, skill development and infrastructure.

Following sectors have been included by the Government in this campaign.

5 things ‘Make In India’ will do• #1 Guide Foreign Investors• #2 Assistance to Foreign Investors• #3 Prompt Response• #4 Provide Relevant Information• #5 Proactive Approach

List of challenges • India’s chronic infrastructure and logistics deficit

with inefficient transport networks makes it tough for manufacturing companies to achieve just-in-time production.

• A large chunk of manufacturers in India even believe that globalization is a myth for them and they consider global opportunities as threat for their domestic business

• For example,– increasing raw material cost,– ever growing prices of industrial land, – non-availability of labour and

• Currently, it takes 12 procedures and 27 days to start business, 35 procedures and 168 days to get construction permits and 1420 days to enforce contracts in India.

Land Acquisition in India

• Land Acquisition in India refers to the process of land acquisition by the central or state government of India for various infrastructure and economic growth initiatives.

• Several controversies have arisen with claims that land owners have not been adequately compensated.

Tata Motors

• When companies such as Tata Motors choose where to locate a new factory, they consider a range of factors.

• But India fares badly on most of the counts. For instance, contract enforcement takes 1,420 days and going through the 12 procedures for starting business typically takes 27 days.

Decade of manufacturing in India• This is not the first time India is focusing on

its manufacturing sector.• In 2006, the UPA government put out a

national strategy for manufacturing. It even dubbed 2006-15 as the “decade of manufacturing in India.”

Electronic manufacturing still remains a pipe dream

•India has huge potential, but not much has been achieved so far.•Nokia has just closed its manufacturing operation.

Kenichi Ayukawa

• "Costs of production in India increase because of various government policies, procedures, regulations and the way some of the laws are implemented," said Kenichi Ayukawa, Managing Director and CEO, Maruti Suzuki India Ltd, at the 'Make in India' campaign. 

Ambani

• Ambani said in order to succeed in this campaign, it was important to be open to capital and expertise from all over the globe, and implementation of GST will make India one market and strengthen overall Make in India programme. 

GST• The Goods and Services

Tax (GST) is a Value Added Tax (VAT) to be implemented in India, the decision on which is pending.

•  It will replace all indirect taxes levied on goods and services by the Indian Central and State  governments.

• Indirect tax: 

customs duty,  central excise duty,  service tax,  sales tax,  value added tax (VAT),  securities transaction tax

‘Made in China’ campaign launched with ‘Make in India’ • Coinciding with Prime Minister Narendra

Modi’s ‘Make in India’ pitch, the Chinese government has launched a ‘Made in China’ campaign with a host of tax concessions in an effort to retain its manufacturing prowess.

• China will encourage high-tech imports, research and development (R&D) to upgrade ‘Made in China’, a decision by the Chinese central government said.

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