Make in India is simply a superb and timely initiative for the overall economy, as it is a major thrust in the direction of creating jobs, millions and millions of them in the near future be it jobs in Kolkata or Mumbai. Traditionally India has not been a global force to reckon with in manufacturing, china has been dominating the space. We have been at the forefront of information technology ever since its inception and revolutionized the entire world with our exceptional software offerings.
Sadly the same is not true of the hardware, for which we have been dependent on other nations. We have made strides in this field but a lot more still needs to be accomplished. Many reasons can be attributed to the dismal state of manufacturing thus far, however dwelling on them is not going to help us in any way to improve our condition. Going forward we need to devise strategies for success and effectively implement the plans we chalk out for accomplishment of our cherished goals.
An Attractive Destination
Now the country has a new and able leadership and under his tutelage, the populace is all geared up to grab the opportunity with both hands and make the most of the situation. We are going through incredibly exciting times, with global businesses keeping a keen eye on the recent developments. The factors that make the country attractive happen to be a rapidly growing middle class, along with urbanization and disposable income.
The Indian millennia’s are confident consumers who are instrumental in driving the boom of products and services, hitherto the preserve of multinationals. So far we have touched upon only one pain point, which needs to be addressed immediately. Make in India is being lauded and heralded as being very promising by players from fields as diverse as power, shipping, defense, indigenous arms development, aviation and all of this is being made possible by positive policies, support and facilitation of the new dispensation.
Homegrown Mega Corps
In order to be reckoned as a global force rendering products and services of repute we must first have a satisfactory run on the home ground. As industrial processes are getting more efficient and manufacturing gets mechanized, it has come to be an accepted practice that products get designed in one place but are assembled at other for cost effectiveness; various national as well as international brands design their products in their own country but get it assembled in another country like China at a fraction of the selling price. Economies of scale are the main reason for adopting this route as net profits are to the tune of a neat 50%, the ROI can be further shored up with everything happening at a cost effective location like our own country.
The local players have not just dreamt but actually beaten multinational brands in terms of sales figures in lot many areas. Talking about cell phones, it took the indigenous manufacturers to understand and bring about changes at the grassroots levels, be it coming up with phones having a battery lasting for a full month for areas with erratic electricity supplies especially the rural ones. They introduced dual SIM phones for migrant workers thus eliminating the need to carry two phones.
The Innovative Streak
The innovativeness of the locals is not just confined to cell phones; there has been a spurt of investment in other sectors like retail, Ayurvedic Products, FMCG, Food, Beverages, with entrepreneurs trying newer ideas and better ways to serve customers. Lots of e commerce players are giving the established multinational players in the field a run for their money in fields as diverse as e music, or cab booking services.
The best thing with make in India is, it is going to revive and give a boost to traditional manufacturing, which in any case is not going to die out anytime soon but grow in volume as well as employment for a longtime to come. The economic space is going to expand at an astounding pace in the times to come as a result of make in India activities, it is time you gear up and brace yourself for your share of success in the changed environment.
Conclusion
Make in India is a novel initiative; much awaited and sought about, and is the perfect answer to ever increasing unemployment situation in the country.
