The marketing acumen of Mr.Narendra Modi was proved again on September 25th, 2014 when government of India launched the international marketing campaign”Make in India”. The campaign focuses on development of heavy industries and public enterprises in India thereby increasing the employment rate in India. It also involves liberalizing the bureaucracy in India and modifying the Indian rules in order to promote foreign investors invests in India. Mr.Modi has specially emphasized on reducing the rep tape and oppressive rules and improve the rank of India in “ease of doing business” from 134 to under 50. He also aims to maximize the utilization of capacity in India and use the high youth population as bait for the entrepreneurs to set up industries in India. The campaign was attended by Industry stalwarts, Reliance's chairman, Mukesh Ambani, Cyrus Mistry of Tata Sons, Azim Premji - the chairman of Wipro, , Kumar Mangalam Birla- the chairman of Aditya Birla Group, and the chairman of ITC Limited -Yogesh Chander Deveshwar.
As per Mr.Modi, so far much of his emphasis has been on making officials work more efficiently, but in this campaign they would aim to increase the opportunities all over India. Political decisions might be taken at Delhi, but then they had to be implemented by states, many of which are in bad conditions. So the center and states have to learn to co-operate better. He mentioned that Rajasthan and Madhya Pradesh have begun to liberalize restrictive labor laws, with support from the center. He obviously wants others to follow suit. In a typical rhetorical flourish, he noted how India was, before the industrial revolution, known abroad as a Golden Bird, suggesting it could once again be famous as being a golden opportunity. The prime minister mentioned that although we have liberalized the Foreign Direct Investment many sectors but still India needs to win the confidence of many investors who are still skeptical about the changing policies in India.
In the campaign, some also talked about implementing Goods and Services Tax (GST) that would help to make India into a more attractive market. Getting that agreed and implemented was expected to be one of Mr. Modi's early acts. The laws like labor laws and land acquisitions laws, owing to their intense complexity, are so difficult to implement that it is not being liked by the investors. Mr. Modi's government appears to have no immediate plan to fix that law. They are still contemplating how to modify these laws to bring it for the betterment of people and investors.
An official website www.makeinindia.com was also launched. The website has the details of the current projects in different sectors. It also covers the policies of manufacturing industries, new initiatives taken by the government, Foreign Direct investment policies etc. The direct interface would help the industrialist s and budding entrepreneurs to know the requirement of the government well.
The move of Mr.Modi has been acclaimed worldwide. Many foreign investors have now decided to invest in India and are very optimistic about their growth in India. Businesses conglomerates are planning of expand their business and unleash the job opportunities in India.
Recently Russia has agreed to make 40 helicopters in India. These helicopters are mainly used for search and rescue operations at mountains. One of the important outcomes of the meeting was also that Russia would build 12 nuclear reactors in India. The PM clearly mentioned that Russia would be one of the major defense partners of India. This was possible only because of the make in India campaign.
However there were certain observations made by RBI governor Mr.Raghuram Rajan. Recently in a FICCI conference he said that India should focus not only on manufacturing sectors but also on other sectors. Boosting the manufacturing sector worked well for China but we are still uncertain if it would work for as well, since the scenario with India is different. The government should be concerned for the growth to all the sectors so that the entrepreneurs are free to choose their sectors. India He emphasized the government to meet the internal demands of India but increasing the production of goods demanded domestically and thus creates a sustainable market in India. He counseled on not curbing of external imports since that seems to be very unlikely at this point of time. He also said that GoI should focus on implementation of GST to reduce the transportation hurdles across different parts of India.
The new government has raised the hopes of the public who now believe that the “acche din”(good days) are certain. However the prevalent corrupt bureaucratic level of the government is quite difficult to modify. The nature of the officials needs to change and this is done gradually. The industrialists are also hopeful that the planning of the Government would be effective as soon as possible. The Swadeshi Movement started in 1900s seems to come into effect again but in a different form. India is certain to become self-sufficient if the Make in India campaign is prudently implemented.
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