On the eve of his historic visit to the United States of America, Prime Minister Modi had two more feathers added to his cap, which will count for his Government’s achievements. The one is the successful launching of the Chandrayaan in the orbit of the Mars by the scientists of ISRO and the second is the launching of Make in India programme. The latter programme has been the policy matter of the BJP towards which sufficient hints had been thrown during election campaigns.
Make in India, when briefly explained, is a major shift in the industrial and economic policy of the country. Its primary aim is that India is not to be looked at only as a vast market because it has enormous consumer potential but also a source of production and distribution. Therefore the real content of Foreign Development Investment has to be the development of India. Obviously it is to give a new meaning to the FDI and not reject it outright or accept it outright. With regard to manpower, we know that sixty per cent of the total population of the country comprises of youth below 35 years of age. This is huge asset and can bring about radical change in India’s production potential.
Of course, for investment and development, proper infrastructure is needed. It means that pre-requisites like power, water, roads, transport and skilled labour force should be available. The Central Government is committed to revolutionize the infrastructure status of the country which would enhance the process of hassle-free investment and production.
A big complicacy in FDI in our country has been the proverbial red-tape-ism and many foreign investors have been heard complaining that in the wake of existing rules and procedures, it becomes rather complicated and embarrassing for them to move forward in the task of investing in Indian industry and business. This being the known fact, the new Government has carefully studied the case and that is likely to lead to the scrapping of old and obsolete rules and laws. What is the fun of retaining obsolete laws when we know that these are the source of creating bottlenecks and hurdles in the path of accelerating trade and commerce or develop industrial base of the country.
We appreciate the broad vision of the Government in regard to development of industries through foreign investment. India with a sound democratic Government and an attractive market is the right place where foreign investors can invest. Significantly major industrialists of the country and some top investors from abroad were present in the inauguration ceremony of ‘Make in India’ campaign. Present at the event to showcase India’s potential as a location for factories to revive the flagging economy were Mukesh Ambani, Cyrus Mistry, Azim Premji, Kumar Mangalam Birla, Maruti Suzuki’s Kenichi Ayukawa and Lockheed Martin’s Phil Shaw. This sends a satisfying message to the policy planners that industrialists with sizeable capital are ready to invest provided proper and congenial atmosphere is created for them. That is what the Modi Government has to take into account. If Make in India programme moves forward according to the lines drawn by policy planners, undoubtedly it will provide many opportunities of employment for the youth of the country. That again would be an achievement.
Thus in overall estimation, the new industrial policy will bring a drastic change in the status of the people and a vast segment of middle class will be added to strengthen socio-economic profile of the country. With reformed policy for investment and industry, it should be possible for India to enhance her share of trade in the global market.
India has vast network of technical institutes and higher institutes of technology wherefrom manpower for running industries is obtainable. Given proper environment, this strong band of technically proficient workers will have the capacity of transforming India into the world’s largest middle class. We feel that the Modi Government is determined to bring about radical change in the economic and social life of the country. We hail healthy economic steps that are bound to create new upsurge among the Indian entrepreneur.
Actually an important condition of regular and perennial flow of foreign investment is of establishing levels of trust between the investors and the state agencies. India, a strong and viable democracy, is inherently a guarantee to the safety of investment. With a stable Government at the Centre the trust between the investors and the recipients is expected to become stronger and more realistic. Make in India programme launched by the Prime Minster should be emulated and followed by the State Governments in the country. Each State will need to adjust it to suit their interests which, in long run, helps India wriggle out of poverty and breathe in an atmosphere of prosperity.
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