Premier projects nation as manufacturing powerhouse

RIYADH: Prime Minister Narendra Modi launched the “Make in India” campaign on Sept. 25, 2014.
With one million people to enter the job market each month, creating opportunities to such a vast talent pool is a humongous task.
Jobs need to be created in both organized and unorganized sectors.
The efforts in improving the unorganized sector outlook in India is a story for another day.
Let us look at some of the early success stories of the “Make in India” campaign. Of course, we need to be cognizant of the fact that many projects are in the early stages and it would take time to see the results.
However, it would be interesting to know the sectors/industries/companies that have brought into this idea.
The clarion call to make things in India was not only limited to big industrial houses, but also for scores of SMEs that form the backbone of manufacturing in the country.
While on one hand the plan wanted to make it easier to set up new manufacturing units, it also wanted to make life easier for manufacturers to operate their business.
Also, Indian Finance Minister Arun Jaitley in his 2015-16 budget has announced a host of tax and non-tax initiatives to boost domestic manufacturing as part of the ‘Make In India’ program.
In fact, a number of proposals have already been made by foreign and Indian companies to set up their facilities in India within the framework of the “Make In India” initiative. Let’s see some of the areas, in which Make in India is taking shape.
Manufacturing has always been considered as one of the most vital cogs in the wheel of development and the Industrial revolution was a testament to that.
Enthused by the announcements of global electronics major Foxconn and Sony to set up manufacturing facilities in India, India Finance Ministry said the “budget boosters” are silently working and ‘Make in India’ is taking shape.
“Sony, Foxconn and many more. Budget booster in indirect taxes silently working for domestic manufacturing. Make in India taking shape,” India’s Revenue Secretary Shaktikanta Das said in a tweet recently. In fact, Taiwan-based Foxconn, which makes iPhone, iPad and other Apple products, had said that it was in talks with Indian firms and other local firms to set up manufacturing factories in India.
Foxconn Chairman and CEO Terry Gou, who recently made a second visit to India in 45 days, said his company was “very keen to invest” in the country and is in talks to strike partnership with local companies.
Gou said Foxconn is in talks with billionaire Gautam Adani’s Group for electronics manufacturing facilities and has visited Karnataka, Maharashtra, Andhra Pradesh and Gujarat to scout for possible locations for the facilities.