Probably one of the most notable actions that India has taken in the guise of economic reforms in the past decade can be cited to the Make in India movement. Launched on September 25th 2014, the Make in India campaign was almost a kind of nationalist movement aimed at improving the manufacturing capacity of the industrial sector and to encourage newer business ideas and products to improve the economic scenery of the country. Another main motive of this movement could be contributed towards the governments’ campaign to encourage people to opt for products and services that are produced by domestic sources instead of helping foreign players to dominate the Indian economy.
With the commencement of this program, India received investment almost around rupees 16.40 lakh crores, and subsequent follow up of investment enquiries. Due to the sudden surge of investments the Indian economy experienced a booming period of growth and became the most popular destination for foreign direct investment which was evaluated more than that of both China and the United States. India also paired up with Japan to come forth with a new initiative called “Japan-India Make-in-India Special Finance Facility”. There were a lot of contributions from national factors as well, such as states like Odisha, Gujrat and Haryana which further contributed to this cause.
According to the latest reports by the World Bank, India witnessed a drastic jump in its position when it came to Doing Business Report, Ease of Doing Business index, Global Competitiveness index and Logistics Performance index. The government also opened up multiple new options to facilitate and help businesses grow such as specialized freight carriers, industrial corridors and a growing dependency on digital mediums. Not only was the initiative targeted to improve India’s economic performance and push it as a top player in the international market, but to also create demand in its domestic market and create more employment opportunities. Some of the sectors covered by this initiative are listed below;
Automobiles: Kia invested to build its manufacturing facility in Andhra Pradesh, SAIC Motors invested in Gujrat
Aviation: French drone manufacturer LH Aviation invested in manufacturing units in India, Thurst Aircrafts signed an MOU with the state of Maharashtra.
Construction: Chinese company Dalian Wanda Group plans to create industrial and residential complexes in Haryana
Defense Marketing: India and Russia have come together to manufacture and market defence components
Electronic systems: Foxconn, Huawei, Lenovo, Qualcomm, Micromax, Samsung, Xiaomi, Wistron are of the companies planning to expand their businesses in India.
Apart from the above-listed industries, a lot of investments and interest has been shown towards industries like food processing, mining, oil and gas, pharmaceuticals, railways, renewable energy, thermal power and wellness and healthcare.
A subsidiary of the Make in India campaign would be Startup India campaign wherein the government encouraged more and more business oriented people to venture out and establish businesses of their own. The main motive behind this was to nurture entrepreneurial spirit and help create newer employment opportunities in turn and contribute to the growth of the economy.


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