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Impact of “Make in India” in Indian Economy

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Impact of “Make in India” in Indian Economy


Dr. Richa Srivastava

https://doi.org/10.31142/ijtsrd23728



Dr. Richa Srivastava "Impact of “Make in India” in Indian Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4, June 2019, pp.429-432, URL: https://www.ijtsrd.com/papers/ijtsrd23728.pdf

Make In India, is buzzword initiated for the sole purpose of inviting various commercial sectors from all around the world, to engineer their products in India and sell them anywhere they wish. The crusade had instigated on 25th September 2014, and since then has emerged as one of the grandest triumphs of the Indian economy. Both the policies seem to benefit the Indian economy in their respective ways. On one hand, Make in India will boost foreign investments in the economy and on the other, Made in India will help the country being self-reliant in terms of manufacturing of products. Therefore, a logical route is needed to be adopted. India is expected to be the third largest consumer economy as its consumption may triple to US$ 4 trillion by 2025, owing to shift in consumer behavior and expenditure pattern, according to a Boston Consulting Group (BCG) report; and is estimated to surpass USA to become the second largest economy in terms of purchasing power parity (PPP) by the year 2040, according to a report by PricewaterhouseCoopers. With this initiative, Mr. Modi is literally inviting the rich and semi-rich countries to step in India and invest their money for the future of India. It’s like inviting the countries to set up their companies in India and manufactured in the territory of our country. Sell everywhere but manufacture in India sums it up all.

Make In India, Growth, Made In India, Key Differences, GDP, Impact On Indian Economy


IJTSRD23728
Volume-3 | Issue-4, June 2019
429-432
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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