A Lion designed to WORK!
" INDIA has three things that no other country in the world has: Democracy; Demographic Dividend & Demand " - Narendra Modi
The basic difference, that I found, between Shri Narendra Modi and other so called "competitors" for the position of The Indian Prime Minister, is that, "HE HAS A VISION & HE CAN THINK ... ".
With the vision to develop every Indian into a handsome buyer and make India a manufacturing hub, Shri Narendra Modi on Thursday launched his most ambitious project The "Make In India" campaign at Vigyan Bhawan, New Delhi. But the question is: " Will it succeed ? Or is it an another bubble ? "
We all are very much aware about the law and order of India, the macro & micro economic policies of India and the taxation policies of India. India ranks at 134 out of the 189 countries in the World Bank's index of "Ease of doing Business". India has never been considered to be corporate friendly. I remember a recent case, when the Reliance Industries Limited was operating in the oil fields of Andhra Pradesh in a joint venture with British Petroleum, they filed an application for the permission of doing Hydraulic Fracturing in the oil wells for increasing production and reviving old wells. According to a report published in The Hindu, they have to wait for 18 months for that application to be sanctioned. This is not just one case, there are an enormous number of permits and licenses involved in business, which are obviously not easy to clear in India.
Modi's sole focus is towards, making India a business friendly country, so that more foreign companies and domestic entrepreneurs can start businesses here. Which will in turn result in more money being pooled into the country by the FIIs (Foreign Investment Institutions). This vision and this thinking are the seed of "MAKE IN INDIA" campaign.
With 500 global CEO's, and business stalwarts like Mukesh Ambani, Cyrus Mistry, Kumar Mangalam Birla and Azim Premji, attending Narendra Modi's ambitious investment campaign, Modi laid a red carpet for both global and domestic industrialists and investors, Modi said, "We want our companies to shine as MNCs. The government is ready to stand as facilitators. We can change the direction and fate of India."
" It is important to increase the purchasing power of the common man, as this would further boost demand, and ultimately spur development, in addition to benefiting investors. The faster people are pulled out of poverty and brought into the middle class, the more opportunity will there be for global business. Cost effective manufacturing and a handsome buyer (one who has purchasing power) are both required. This is a cycle, move poor people towards being a part of the middle class. Manufacturing boost will create jobs, increase purchasing power, thereby creating a larger market for manufacturers," he explained.The Indian economy is becoming more and more dependent on the services-driven growth model, and the "MAKE IN INDIA" campaign is about to transform this into a
Narendra Modi said, "India is the only country that offers Democracy, Demographic Dividend and Demand and the world is ready to come to Asia. The new era of economic growth is in Asia and we have to see howMentioning incidents about industrialists and Indian people leaving India, he said, "The most important thing is faith, but we have run the country in such a way that we have failed to show faith in our own people. What happened in the last few years? Whenever I met people for the last few years they would tell me- we want to shift out. But I do not want any industrialist being forced to leave India and I can say that we have been able to bring about a change in the last few months."to make it India's. I don't need to give an invitation; I just need to tell people the address of India. I want to take India higher on Ease-of-Doing-Business Index and want to enhance Public-Private Partnerships in skills development."
Modi in his speech gave a new definition to FDI, calling the development as India's 'Collective Responsibility' he said that, "FDI is an opportunity for the foreign investors as Foreign Direct Investment but for the Indian it is a responsibility, FDI stands for First Develop India."
Emphasizing on the importance of exporting products that are Made In India, Modi added, "I, urge upon the youth, in particular our small entrepreneurs that they would never compromise, at least on two terms, "First, Zero defect and, second Zero effect." We should manufacture goods in such a way that they carry zero defect & we should manufacture goods with zero effect that they should not have a negative impact on the environment."
Also, in order to develop faith and trust between Indians themselves and also between the citizens of the country and the government, Modi said:
" Who is the Government for? It is for every Indian. It is for the poorest of the poor.Mantra of our Government is that we want to trust each and every Indian. The atmosphere of trust can change a lot of things. Our government wants to have a faith in each and every citizen. The change cannot only take place inside the parliament, it can also happen outside." "Industry does not come when there are too many incentive schemes. To bring industries, we have to create a development and growth oriented environment. We have to increase manufacturing and at the same time ensure that the benefits reach the youth of our nation and this is the step of a Lion", he added.
Chanda Kochhar (CEO, ICICI Bank); Kenichi Ayukawa (Managing Director & CEO, Maruti Suzuki India); Mukesh Ambani (Chairman & Managing Director, Reliance Industries); Cyrus Mistry (Chairman, TATA Group); Kumar Mangalam Birla (Chairman, Aditya Birla Group); Azim Premji (Chairman, Wipro); Amit Kalyani (Executive Director, Bharat Forge); Rajan Bharti Mittal (Vice Chairman, Bharti Enterprises); Y C Deveshwar (Chairman, ITC) all these business tycoons flaunted the idea of Mr. Narendra Modi in their respective speeches. While some of them focused more towards job generation others talked about much popular, India's hectic corporate policies. All showed a thumbs UP for the "MAKE IN INDIA" campaign, and explained how this will improve the economy of the country, in their own way.
Now I will tell you, what this "MAKE IN INDIA" campaign all about? And what are the steps taken by the government to increase improve the condition of the Indian Economy?
What is "Make In India"?
"MAKE IN INDIA" is a new national program, designed to transform India into a manufacturing hub. And encouraging domestic & foreign investors to invest in various sectors of the Indian Economy showcasing the importance of these sectors and their bright future.
Now I will tell you, what this "MAKE IN INDIA" campaign all about? And what are the steps taken by the government to increase improve the condition of the Indian Economy?
What is "Make In India"?
"MAKE IN INDIA" is a new national program, designed to transform India into a manufacturing hub. And encouraging domestic & foreign investors to invest in various sectors of the Indian Economy showcasing the importance of these sectors and their bright future.
Sectors covered
There are 25 major sectors covered in this campaign, which almost cover the entire Indian Economy, these are:
Automobiles, Aviation, Chemicals, IT & BPM, Pharmaceuticals, Construction, Defense manufacturing, Electrical machinery, Food processing, Textiles and Garments, Ports, Leather, Media and Entertainment, Wellness, Mining, Tourism and Hospitality, Railways, Automobile components, Renewable energy, Bio-technology, Space, Thermal power, Roads and Highways.
Steps Taken by the Government:
1. Invest India cell: It is an investor facilitation cell, set up by the government for guiding foreign investors on all aspects of regulatory and policy issues and to assist them in obtaining regulatory clearances. The factual data that potential investors need for each sector have been provided in the brochures.
2. Single Window for all Clearances: All central government, state government and municipal services are being integrated with an e-Biz single window online portal. The ministry of home affairs have been asked to give all security clearances to investment proposals within 3 months.
3. Single Window for business queries: A dedicated cell has been created to answer queries through a newly created web portal (http://www.makeinindia.com). The support team of the cell would answer specific queries within 72 hours.
4. Business Approach: Cell will follow a real time business approach to track visitors for their geographical location, interest and real time user behaviour. Subsequent visits will be customised for the visitor, based on the information collected. Visitors registered on the website or raising queries will be followed up with relevant information and newsletter.
5. Easing policies and laws: The governmnt is planning to ease the labour laws or formulate an entirely new law by December to ease the functioning. Also, a vast number of defence items have been de-licensed and the validity of industrial license has been extended to three years.
Hence, The "Make In India" campaign can be very much realistic and fruitful. Although, I am still not convinced with the Idea of foreign investors, investing in India. I don't think that it would be easy to catch there attention just through a portal, which flaunting everything good about the Indian Economic Sectors. Rather the reality is entirely different.
But Yes, the campaign can be very useful towards motivating the youth and the corporate club of India that now the Indian government is not a hindrance in their way, rather it is a facilitator. Also, it will surely create jobs and at least provide good products to India, so that it will be easier for the service sector to bloom.
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