Download MAKE IN INDIA-AN INITIATIVE TO CHANGE THE ECONOMIC

MAKE IN INDIA-AN INITIATIVE TO CHANGE THE
ECONOMIC LANDSCAPE OF THE COUNTRY
Abstract
Manufacturing is believed to be the key to the development of a nation. Whereas, in case of
India it is the services which has lead the development. However, if India wants to unlock the
of growth and wants to provide employment to the millions of income seekers, manufacturing
is the key.
Realizing the imperativeness of the sector, the Prime Minister of India- Mr. Narendra Modi
on 25th September 2014, launched the initiative ‘Make in India’. The new policy is launched
with the objective of making India the manufacturing hub of the world.
The research paper is written with the intention to expound the concept of ‘make in India’
campaign, It’s importance and impact on the Indian economy. The paper also proposes to
identify and elucidate the work done so far, the key challenges and recommend possible
solutions to deal with the same
Key Words - Make, India, Manufacturing, FDI, Modi
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The general elections of 2014 were a watershed moment in the Indian political history in
many ways. Firstly, almost after three decades these were the first elections which gave a
clear majority to a single party. Secondly, these elections were fought in a presidential style
and gave a clear mandate to Mr. Narendra Damodardas Modi who was till then was the
chief minister of one of the fastest growing state in the country; Gujarat.
Mr Modi ,the chief minister of Gujarat from 2002 to 2014,was widely popular among the
business community for his progressive approach towards commerce and industry. In fact
these elections were also largely contested (and won) on the issue of development, rather
than on cast, community and social issues.
Keeping with his theme of development, in less than three months of his joining office, the
Indian Prime Minister in his Independence Day speech on 15th August 2014, veiled towards
the initiative of, making India, a manufacturing hub of the world. This thought gave birth to
the initiative “Make in India” which was formally launched on 25th of September, 2014 in a
function held at the national capital.
The major objective of this initiative is to get the manufacturing sector of our country to
grow over ten percent on a sustainable basis in the long run. Accompanying this objective is
the vision of providing at least a 100 million jobs which in turn is expected to boost the
sagging GDP of our country.
The government desires to accomplish this objective by focusing on sectors like
Automobiles, power, railways, textiles, media and entertainment, aviation, leather,
electronics etc.
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The national program is designed to facilitate investment by eliminating red-tapism, foster
innovation by major bureaucratic reforms, deregulations and public-private partnerships. It
targets to build best-in-class manufacturing infrastructure and enhance skill development so
as to create an milieu favorable to that of setting up of business ventures in India.
However, the vision though laudable is not easy to achieve. There are a number of
bottlenecks which the government will have to address before it can hope to achieve its
dream of making India a global manufacturing hub.
The research paper is written with the intention to expound the concept of ‘make in India’
campaign. It’s importance and impact on the Indian economy. The paper also proposes to
identify and elucidate the work done so far, the key challenges and recommend possible
solutions to deal with the same.
Objectives
Based on the above the paper has the following objectives:
1. To understand the concept of make in India and its relevance in the Indian context.
2. To pinpoint the road blocks and recommend possible solutions to deal with the same.
3. To identify the work done so far by the central government towards the initiative.
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Manufacturing: The Missing Link in India’s Growth Story
The Indian manufacturing sector is a classic example of an industry that has a great
potential but one that has been systematically done in by political ineffectiveness,
entrepreneurial myopia and sheer ignorance of what it takes to succeed. (Bhattacharya,
Bruce & Mukherjee, 2013, p.4-5).
In 1993, the share of the manufacturing sector in the Indian GDP was 15 percent, and
today, after twenty five years of industrial liberalization its share is still the same. This
figure sounds even more disappointing when compared to the several rapidly developing
economies (RDE) of the world who have already increased their share of manufacturing
above 20 percent of their GDP. (Table: I on page 25).
TABLE : I
Share of Manufacturing of the Rapidly Developing Economies in their GDP
S no
Country
1.
Thailand
2.
China
32
3.
Malaysia
24
4.
Indonesia
24
5.
Philippines
31
6.
India
15
Source-Self Constructed
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Share of Manufacturing
(in percentage)
34
In the last five years from the year 2009 to 2013 the situation has become even bleaker.
There has actually been a downfall in the share of Indian manufacturing sector in the
global GDP from 2.2 percent to 2 percent. Whereas, the GDP of Peoples Rebulic China in
in half a decade has augmented by almost 8 percent from 17.3 to 24 percent (Figure :I)
and so has the share of many other countries like Russia , Thailand, South Korea , Malaysia
and so on.
Figure : I
India and China's Share of Manufacturing in Global GDP in the Last
Three Decades
24.1
25
20
17.3
15
2003
2009
10
2013
5
0.9
2.2
2
3.1
0
India
China
Source: self comstructed
Not only is its share low in the country’s economy, even its contribution towards nations
employment is quite unsatisfactory. In the last two decades the total employment in the
manufacturing sector in India has grown only by 1.8 percent from 37 million to 53 million
jobs.
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Exports are said to be the mirror of success or failure, of a manufacturing nation. India’s
shares in global exports at 1.7 percent, tells us the sorry story of this sector. Whereas,
China, who over the years has positioned itself as the work shop of the world, has increased
its exports from a mere 2.4 percent in 1993 to 11.5 percent in 2013 ( a staggering 379
percent increase). (Figure: II).
Figure : II
India and China's Share of Exports in Global GDP
in the Last Two Decades
12
10
8
1993
6
2013
4
2
0
China
India
Source: Self Constructed
Till now India economy was being led by the service sector which is significantly less
labour-intensive than manufacturing. In 2011-12, services accounted for 32 percent of the
total employment in the country even though its contribution towards country’s Gross
domestic Product was more than 55 percent. As opposed to manufacturing which accounted
for twelve percent of employment while contributed only 15 percent to the GDP.
It is further expected, that a total of 250 million income seekers will be added to the
workforce in the next 15 years. India desperately needs an industry where its surplus low
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skilled labor can be moved for productive employment. More jobs cannot be expected from
the Agricultural sector which is already employing 56% of total population
On the
contrary, it should be releasing labor (which has very low productivity in agriculture)
to be absorbed in other sectors. While the services sector has been developing fast, it alone
cannot absorb such a big chuck of income seekers. Thus, unless manufacturing becomes an
engine of growth, providing a minimum of 100 million jobs it will be difficult for India’s
to have a sustainable growth.
Relevance of the Initiative
The above statistics go on to prove that the manufacturing sector has till date not shared the
dynamism of the economy.
The country from a decade or so has had a rapid services-led growth. However, economists
have tended to view this as incidental and transitory. Experts in the industry are of the view
that, manufacturing has always led the growth process at every stage of development. This
is evident not only in the developed countries like Europe and North America but also in
late-developers like a Japan, Taiwan and South Korea, and most recently in China. Thus, no
country in the world has achieved high-income status without developing manufacturing to
a point where it accounts for at least a high share (around 30 per cent) of GDP. (Gosh ,
2015).
Evaluation of the performance of several developed countries shows, that those countries
that managed to catch up with the earlier industrialised, high-income countries were the
ones whose governments proactively encouraged structural changes and development of the
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manufacturing sector. Thus focus on manufacturing, is back on the national agendas of
many countries including that of India.
The prime minister's 'Make in India' campaign for a rapid manufacturing-led growth is also
the upshot of the above premise. The movement not just endorses a rapid growth of
manufacturing, but also advocates a lead role for manufacturing in India's growth process.
However, it is to be well-known that it does not call for discouragement or lowering of
services growth; rather it calls for services growth to be pulled by manufacturing growth
and not vice versa.
The ‘Make in India’ campaign is opinioned to become a vehicle to generate 100 million
jobs in the country which in turn will enable economic inclusion, by bringing more citizens
into the modern productive economy.
The policy makers are of the opinion that the manufacturing formal sector jobs will pay a
regular and higher income than the agricultural jobs. This in turn will help bring in
economic stability and will improve the overall standard of living in the country.
Study by (Green, 2014) estimates that when an illiterate worker moves from agriculture to
light manufacturing there can be a rise in wage by almost forty percent. Whereas, if a
literate worker moves from agriculture to heavy manufacturing there can be a wage increase
of approximately seventy percent.
Thus based on all the above data it is well understood that rapid manufacturing-led growth
is what India needs and must seek to promote.
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Make in India- “The Policy”
The make in India website defines ‘ Make in India’ as a major new national program
designed to facilitate investment, foster innovation, enhance skill development, protect
intellectual property and build best-in-class manufacturing infrastructure. There's never
been a better time to make in india.
Objectives of the Programme
The National Manufacturing Policy 2011 had set out a few objectives to be achieved in a
long term period of 15 years. These same underlying objectives the National Programme
aims to achieve. The objectives are as follows:
I.
Increasing manufacturing growth to around 12 to 14 percent.
II. To make manufacturing sector the engine of growth for the economy.
III. To develop manufacturing sector so as to enable it to contribute a minimum of 25
percent to the country’s GDP by the year 2025.
IV. The policy also aims to create at least 100 million additional jobs in the manufacturing
sector by the year 2025.
V. To increase the global competitiveness of the Indian manufacturing sector.
VI. Ensuring stability of growth particularly with regards to environment.
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Making ‘Make in India’ a Success
In the report published by the World Banks on Ease of Doing Business, 2015 India ranked a
paltry 142nd among 189 nations (Table : II). With the exception of two parameters like
getting credit and protecting minority investors India did not feature in any other parameter
in top 100. (Ease of Doing Business, 2015) .
Table : II
World Bank Doing Business 2015 Report- Rankings for India
S. No.
1.
DBS 2015
DBS 2014
Change in
Rank
Rank
Rank
156
-2
184
183
-1
Parameter
Starting a Business
158
-2
Dealing with Construction
2.
Permits
3.
Getting Electricity
137
134
-3
4.
Registering Property
121
115
-6
5.
Getting Credit
36
30
-6
6.
Protecting Minority Investors
7
21
14
7.
Paying Taxes
156
154
-2
8.
Trading Across Borders
126
122
-4
9.
Enforcing Contracts
186
186
No change
10.
Resolving Insolvency
137
135
-2
11.
Overall Rank
142
140
-2
Source: http://www.doingbusiness.org/data/exploreeconomies/india
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India's overall ranking and the individual rankings in various parameters clearly indicates
that India is in crucial need of transformation to unravel the huge manufacturing potential
of the nation. However, the reforms need to be initiated at various levels; local, state and
central so as to bring India into the top ranks in the ‘ease of doing business’.
Some of the parameters that need modifications are as follows:
A) Business Regulatory Framework (BRF)
Business regulatory framework (BRF) of any country is requisite for creating and
promoting an efficacious business environment. The aim of the frame work should be to
simplify the regulatory system so as to ensure speedy business startup, ease of contract
implementation and registration, reduced cost of compliances of doing business and so on.
In short the business regulatory framework should make the process of doing business in a
country easy.A strong correlation is found between economic growth and the ease of doing
business in a country
The PWC report the “Future of India: The Winning Leap”, terms India as a difficult
market to do business. The report states Investment plans are often abandoned, not because
the idea lacks merit but because the business environment presents too many barriers
(Nally, Kapoor, & Juan 2015).
India ranks at 142 among 189 countries in the ease of doing business, in fact in certain
parameters it ranks near the very bottom of 189. For example India ranks 186 of 189
countries in enforcing contracts. On an average it is estimated that it takes almost 4 years to
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enforce a contract in comparison to just 8 months in South Korea, 18 months in China and
Malaysia.
Mutable government policies, unnecessary tax compliances, stringent labor laws, difficulty
in contract enforcement and getting permits are complexities which the central government
should earnestly seek to resolve so as to ensure the success of make in India campaign.
B) Human Resources Development
India is expected to have one of the youngest populations in the world with about 65
percent of its people lying in the working age group 14 to 65 years. It is said that due to this
demographic dividend (as it is popularly referred as) India is expected to increase its annual
growth rate by 2 percent every year. It is estimated that India will add approximately 2 to 3
billion people every year in its population taking the total count of young population to
more than a billion by 2030. This is in contrast to the demographic situation in many
counties across the globe which has a greater number of greying population (Figure : IV ).
However, even though India has an abundance of human resource (which can be employed
by the world over) there are some serious concerns over its employability. This is especially
true for manufacturing sector. The human resource in India is mostly unskilled along with
this the labor laws in India are quite anarchic. Both these pose a big challenge for the
manufacturing industry development in the country.
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Figure : IV
India's Working Age Population
__________________________________________________________________________________
Source: Future Of India The Winning Leap, PWC Report
Technical institutes for industry specific skill training, skill counseling, development of
human resource information system ,on job training along with apprenticeship model could
be used to improve the human capital of the country. Along with this training the
management and supervisors and ensuring that manufacturing is made an attractive
employment option is necessary to ensure that the human wealth of the nation is not
squandered away.
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D) Land
Manufacturing of any product requires setting up of an industry which requires land. India
ranks seventh in the world in terms of total land area. Even with massive industrialization
shortage of land is not expected in the country. According to World Bank report 2014 India
currently has 60.3 percent agricultural land .(Agricultural Land percentage of Total land
Area, 2015). Whereas, the industries in India currently utilize only 2 to 4 percent of the
total land.
There are quite a few perilous issues which prevent acquisition of land for industrial
purposes; the most critical amongst them is small land holdings. According to the, State of
Indian Agricultural Report 2012- 13, 85 percent of the total operation land holding has an
size of less than 2 hectares. The average size of the holding has in fact, as per the report,
declined from 2.83 (Kaul, 2015) hectare to about 1.16 hectare (Nataraj & Sekhani ,2015).
Fragmented land means negotiation has to be done with multiple land owners which delay’s
the entire land acquisition process. Not only is this, the already unwieldy land acquisition
process, also often met by several protests and resistance not only by the displaced but also
by social activists. Land acquisition for industrial purposes has thus become a cumbersome,
risky and uncertain process in the country which in turn is impacting the rate of
industrialization in the country. Thus it is imperative for the government, if it wants to
make ‘make in India a reality’ to implement suitable land acquisition laws benefiting both
the displaced and the entrepreneur.
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F) Infrastructure
India growth has always been stifled by its poor infrastructure. The United Nations ‘Global
Competitiveness Report’ ranked India at 85th position among 148 countries for its
infrastructure.
One of the greatest threats that the industries in India face is that of chronic electricity
shortage. Electricity is one of the most basic and indispensable input for the smooth
functioning of both industries and households. Still around one third of India has no access
to it (Beina & Eleanor, 2014 ). Similar is the situation of roads and highways in India. Only
half of the country is paved and not more than one fourth of its high ways meet the quality
standards and this is when almost sixty percent of freight and ninety percent of passenger
traffic in India is handled by roads.
Noted Indian economist Dr. V. K. R. V. Rao once said “The link between infrastructure
and economic development is not a once and for all affair. It is a continuous process; and
progress in development has to be preceded, accompanied, and followed by progress in
infrastructure, if we are to fulfill our declared objectives of generating a self-accelerating
process of economic development.”
Thus if the government wants the industries to make in India’ it has to make sure that at
least the basic infrastructure like electricity, roads, railways , ports etc. are easy to access.
To improve the infrastructure the government should focus on public private partnership
and should open its doors to foreign investment.
.
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Government’s Initiatives to Get the Ball Rolling
As the make in India policy comes closer to completing one year of its launch. We analyses
and study some of the major initiatives taken by the government so far.
 General Initiatives

Streamlining the processes. As an initiative to bring in ease in doing business in
the central government has deregulated and de-licensed a number of sector . it has tried
to reduce the complexities of initiating news ventures in the country thereby attempting
to enhance the speed and transparency in the processes. Some of the important
measures undertaken are as follows:

The services of central government department and ministries have been
integrated from the 3st of December 2014 under one single IT window – the eBIZ.

Through this 24 x 7 e-Biz portal, the entrepreneurs can apply online for
industrial licenses and memorandum.

State governments have been asked to introduce self- certification and third
party certification.

The industrial licenses given will be now valid for three years.

Advisors are being sent to all department ( both state and central) to rationalize
and simplify the regulatory process of doing business in India.

A checklist of all the compliance to be uploaded by all ministries/ departments
web portal.

Environmental clearance can also be obtained online.

Returns can also be filed online.
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 Encouraging Foreign direct investment. In order to boast foreign investment in India,
the current government has increased FDI limits in a number of industries like insurance
and defense from 26 to 49 percent. 100 percent FDI has been allowed in medical devices,
telecom , single brand retail, in asset reconstruction companies, operations, construction,
operations and maintenance of certain specific activities of railways. Many industries
where FDI was already permitted have now been brought under automatic route like
petroleum refining by public sector units, courier services, stock exchanges and
depositories, power exchange
 Industry Specific Initiatives
 Automobile Industry. The Indian Automobile sector accounts for 7 percent of the
country’s GDP and employees nearly 19 million people. India is currently seventh
largest automobile manufacturer in the world and produces 17.2 million vehicles
annually. The government in order to promote research in this sector has proposed
to give a number of tax incentives to the private players to set up R& D centers. The
government itself has also set up research and development centers called NATRip
( National Automotive Testing and R&D Infrastructure Projects) to boost R&D and
growth in this sector. Further 100 percent FDI under the automatic route has been
allowed to boast foreign investment in the sector.

Aviation. The aviation market of India is one of the least penetrated in the world.
The per capita trips in India are approximately 0.04 which is a minuscule when
compared to the per capita trips of USA which stands at approximately 2 trips.
However, with the rising middle class population, from 160 million to
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approximately 260 million in 2016, the Indian aviation market is expected to boom.
The market which is currently ninth largest in the world is expected to grow to
become third largest by the year 2020.
To boast the development of the aviation sector under the make in India initiative
the GOI has permitted 100 percent FDI under automatic route for green field airport
projects. Similarly for brownfield airport projects 74 percent FDI under automatic
route, and 75 to 100 percent with government approval has been permitted.
As for the development of airlines the government has approved 49 percent FDI for
domestic scheduled passenger airlines. However, 100 percent FDI is allowed for
NRI’s. Further, 100 percent FDI is allowed in all technical institutes of aviation,
flying training institutes and maintenance and repair schools.
 Defence -India is said to have the third largest armed forces in the world. Every
year almost INR 30 to 40 billion is allocated to the defense sector. Out of this nearly
forty percent is spent on capital acquisition for defence. India is one of the biggest
importers of defence equipment’s with almost sixty percent of its requirements
being met through imports. Thus there is a huge scope and need for domestic
manufacturing of defence products. Accordingly in the budget of 2015 the
government has allocated INR 2200 billion for the development of Indian defence
services. Apart from this, one billion was allocated for technology development for
defence, thirty two billion for modernization of the infrastructure and development
of railways in border areas. It has also allowed forty nine percent FDI under
government route in the sector. The government is further planning to exempt basic
customs duty on the imports of inputs required for manufacturing defence
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equipment’s. In addition to the above the defence procurement procedure has made,
buying made in India product, its first preference.
 Energy.
India ranks fifth in the world, both in terms of energy production and
consumption. Currently India produces 1108 TW of electricity. This production is
expected to increase further as the demand for electricity is projected to reach 1905
TW by 2022.
Energy and power sector attract almost one fourth of the total investments done in
infrastructure in the country. Recognizing the importance of the sector for the
development of the nation, the government in the budget of 2015 has announced a
number of financial and institution support to the sector .
Under section 80 IA (4) iv of income tax act the companies generation, transmitting
and distributing power can claim a 100 percent deduction of their profits and gains
for consecutive ten years. The sunset date for the above was increased to 31st March
2017 in the annual budget of 2015.
INR 1 billion was allocated for the preparatory work of setting up ultra-modern coal
plants which would produce clean and efficient thermal power.. 100 percent FDI
has been allowed under automatic route in the sector.
“Make in India”- Report Card
Just as, Rome was not built in a day this initiative too will take some time to mature.
However, there are still quite a few examples across various sectors which reiterate the fact
that this initiative is moving in the right direction.
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 Automobiles
Mercedes Benz, world’s biggest German luxury car maker has committed to increase
localization in its car manufacturing to up to sixty percent. Which are to be sold in Indian
market It has also announced to make its luxury buses in India which will be exported to
Africa and South East Asian market.
Its German competitor BMW has also signed contracts with twenty local manufacturers to
supply components for its cars being made in India. Volvo is working on the project of
exporting its range of buses in other international market by making them in India. Other
car makers like Ford and Hyundai have also announced that they would be making India
their hub for manufacturing and exporting cars and other vehicles to other parts of world.
 Defense
Hyundai Heavy Industries (HHI) of South Korea has announced that it will work with
Hindustan Shipyard Limited, Vizag to build warships in India to reduce delivery period
from six years to two years. It has also decided to make small and medium size ships in
India. Another South Korean major, Samsung, will be building LNG tankers with Kochi
Shipyard. Similarly Gurgaon based Sun Group, is in discussion with Russia, to
manufacture two 100 ‘Kamov Ka ( they are single seat military helicopters) and two 100
twenty six light helicopters in Punjab. Likewise Reliance Infrastructure will tie up with
Russia to build nuclear submarines and stealth warships in India,
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 Aviation
There are two parts in this segment military aviation and civil aviation. A success for
government’s Make in India initiative came in the form of the recent deal with France on
‘Rafale Fighter Jets’ where it was agreed that India would import thirty six fighter jets
from France and the rest would be made in India by Hindustan Aeronautics Limited (
HAL). In civil aviation, Airbus has also joined the “Make in India” bandwagon by
announcing to increase its sourcing of aerospace parts from India to two billion dollar in
the next five years
 Energy and Power
For the “Make in India” program to succeed, uninterrupted, quality power is necessary co.
To make this possible government has recently invited major global power producers to
set up facilities in India to make clean and sufficient power to run our industries.
Accordingly Alstom T&D India will manufacture electricity from two substations one in
Betul in the state of Madhya Pradesh and other in Navsari in Gujrat. It will also be
manufacturing power components exclusively in India for the first time.
Essel Group, on the other hand has formed a joint venture with JA Solar, leading Chinese
solar energy producer, to manufacture solar cell in India. Likewise Azure Power India,
commissioned its largest 100 Mega Watt solar photovoltaic (PV) plant under India’s
National Solar Mission (NSM) policy in Jodhpur, Rajasthan.
The Bajaj Group also
recently commissioned 660 MW thermal power plant at Lalitpur in Uttar Pradesh.
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Conclusion
Mr. Modi’s government has ridden to power with a lot of expectations from its people
especially the youth of the nation who believe that this make in India initiative will
empower them, encourage them to dream big and will provide a medium to turn their dream
into reality. The government has the number and heart at the right place to make this dream
turn into reality. This is the time where the odds of driving breakout growth are high with
global economy coming out of recession and our fundamentals and core advantages still
strong.
Still there is a long journey ahead of us. The manufacturing industry which has
been neglected for the last sixty odd years have not only to be revived but also have to be
brought to such a level that it not only becomes globally competitive, but a global leader
too . The roadblocks of stringent business regulations, lack of unanimity on land acquisition
laws, non - availability of skilled manpower still drag us down. However, with government
having shown the commitment to overcome these hurdles by introducing programs like egovernance, skill India, development of smart cities and various other industry specific
initiatives there is a light at the end of tunnel. If these initiatives are implemented in its true
spirit we surely will have many more success stories to write about.
Make in India if implemented efficiently could usher a new revolution in this
country which can spring bolt India to the list of economically successful nations of the
world.
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19. Nally, Dennis., Kapoor, Deepak. & Juan, Pujadas . [2015].Future Of India the Winning
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in India. [online] Available from:: http://www.financialexpress.com/article/fecolumnist/land-acquisition-bill-the-key-to-making-in-india/55513/ [Accessed 28 June,
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Tables and Figures
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Figure: III
Relationship between GDP per capita and Ease of Doing Business Rankings
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Source: Future Of India The Winning Leap, PWC Report
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