A very good morning to one and all present here. Today, I will be giving a short speech on the topic of ‘Make in India’.
Wikipedia defines the ‘Make in India’ move to be “ an initiative by the Government of India to create and encourage companies to develop, manufacture and assemble products made in India and incentivize dedicated investments into manufacturing.”
Simply put, ‘Make in India’ was an initiative to give a boost to entrepreneurship not only in manufacturing but also in other sectors in India. It has the motto of “ease of doing business”.
Essentially, ‘Make in India’ consists of 4 main pillars. They are ‘New Mindset’, ‘New Sectors’, ‘New Infrastructure’, and ‘New Processes’. These 4 pillars once again reiterate the fact that the ‘Make in India’ initiative was not restricted to manufacturing.
‘Make in India’ was both a success and a failure. There indeed was growth regarding the IT and manufacturing sectors. However, many public enterprises also underwent loss due to low productivity.