Made in India is an initiative of Indian Prime Minister Narendra Modi in 2014 when his government took over the Indian Parliament from the NDA, in response to the stagnant Indian economy and to stimulate the country’s economic growth. An attractive destination for foreign investors from all over the world, by eliminating various trade barriers in foreign policy, creating a trustworthy corporate atmosphere, and easily handling business. Encouraging foreign investors through foreign direct investment (FDI) and the country As a reliable global manufacturing base to develop India’s untapped production potential. The benefits of this publicity have prompted many companies around the world to invest heavily in this initiative, making India a hub for manufacturing companies.
The Made in India plan helps create jobs for India’s growing population; transforms India into a manufacturing center for various commercial products; develops neighboring areas and locations to conduct business; the plan will increase India’s GDP because foreign investment will generate huge Source of income. Foreign direct investment under this initiative will strengthen the dominance of the rupee against the dollar. As countries around the world will introduce the latest technology, India will have the opportunity to benefit from it because it lacks some mechanization attempts. The creation of industry under this initiative will help rural development.
The “Made in India” movement focuses on manufacturing, which has a negative impact on India’s agricultural sector because it requires a lot of natural resources (such as land, water, etc.) to create manufacturing. The potential depletion of these natural resources may threaten the survival of such a large population in India. Foreign entry into India’s manufacturing industry poses a threat to existing small businesses there and may force them to close. As land use is mainly used to create manufacturing, the agricultural sector has been severely affected. Intense competition has led to a decline in FDI income and capital outflows. Foreign investors give up the initiative and cause unemployment
The Made in India program brings personality to products made in India. The plan does not attract foreign investors, and it is considered invalid to use the resources available in the country. It encourages domestic producers to use production factors to produce goods domestically. For example, land, labor, capital, entrepreneurship and technology create employment opportunities for the Indian people. When advertising is effective, the plan will definitely recognize and support local Indian brands. It will provide a platform for domestic manufacturers to compete with overseas products. And raise the standard of its products.
Make use of the country’s talents and resources to create products for the Indian public to stimulate domestic producers to manufacture goods in India
The current economic situation in India is unfavorable for national brands. The Bharatiya Janata Party government pays more attention to Indian manufacturing because the government tries to attract competition and improve the quality of Indian manufacturing, which will make the country famous all over the world. The poor quality of domestic products has led to a decline in exports and a decline in the consumption base.
First of all, Indian manufacturing focuses more on attracting foreign investors to invest in the basic inputs of Indian manufacturing, while Indian manufacturing focuses more on domestic inputs (including investment) in manufacturing.
Secondly, Made in India is not a brand, but a strategy of the Indian government to deal with the decline in Indian output. “Made in India” means marketing products made in India and establishing an identity in India and overseas.
Third, the profit generated by the Indian manufacturing plan will also be participated by foreign investors, and the profit generated by the Indian manufacturing plan will remain in the Indian economy.
Both of these policies seem to benefit the Indian economy in their own way. On the one hand, Made in India will increase foreign investment in the economy. On the other hand, Made in India will help the country achieve self-sufficiency in production. Therefore, it is necessary to follow a logical path.
India’s main concern is the lack of funds for domestic producers. If product quality is affected, and if sufficient funds are provided, the quality and standards of domestic products will be improved. Propaganda made in India can make a difference. The campaign can be used to create substantial resources for domestic producers in the form of foreign direct investment so that they can produce high-quality products in the country. -Reliability and global recognition. Once they reach a stable level, they can gradually shift to manufacturing their products as part of India’s manufacturing activities.