Make in India
Indian Government have recently started 'Make in India' campaign for which the initial response is very encouraging. The economic climate is very favourable for the same.
1) The GDP growth of India is about more than 7.3% in the year 2015 which is considerably high among all develop countries including that of China.
2) The direct foreign investment has reached to $44 Billion during the year 2014-2015.
3) The world rating agency'Moody'has up graded India's rating from'Stable'to'Positive'.
4)The implementation of administrative reforms regarding simplifying the approval process of projects i.e. including on line projects. The project monitoring group has already cleared 411 projects out of 704 long pending projects.
5)The tax reforms are on the way and goods and services tax Bill is already before parliament for passing the same.
6) All these developments have decrease the Current Account deficit which is under control now.
In the context of above the foreign companies are attracted and several manufacturing projects are under way. i.e.
a) Indian railway has signed locomotive manufacturing project in Bihar with General Electric.
b)'Foxconn Announced 10 to 12 facilities in India.
c) Mercedes Benz, 'BMWVolvo, Ford, will increase their local Auto Manufacturing activities in India.
d) Hyundai to manufacture Warship in India.
e)Sun Group to built Russian Helicopters in India.
f) Reliance to built'Nuclear Submarine and Warship with foreign collaborators.
g) Airbus to starts manufacturing Helicopters with Mahindra and Mahindra.
These are the glaring examples of success regarding Make in India , Campaign. However overall success of such projects depend upon the qualities of product and cost effectiveness.
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