Fast Track 'Make-in -India' for turbocharging manufacturing growth : Article by Dr. Ravindra Ojha

It is believed that once a nation begins to build knowledge, skill and capabilities necessary to manufacture goods, the path to prosperity begins. Recognizing the potential of manufacturing sector in contributing to innovation, job creation, enhancing export and providing cost effective technology for well-being, India created its National Manufacturing Policy (NMP) about a decade back. However, India in the recent past is passing through a turbulent phase in its manufacturing growth and it has become a cause of concern. India’s NMP objective of 25% share of GDP coming from manufacturing sector by 2022 has now pushed the asking rate to a high double-digit growth figure for the remaining years. Though the asking is a stretched one, still is not unachievable. The government’s ‘Make in India’ drive to become the hub of manufacturing has been viewed to be a critical step forward in achieving the desired manufacturing growth target. The recent quantum leap in the global ranking in ease-of-doing-business in India to 63rd position is expected to provide confidence to foreign investors to invest in a big way in India

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