Make in India: Has the make in India campaign made a difference?

Abstract

Make in India is a campaign launched by Prime minister Narendra Modi on 25th September 2014, as a part of the nationwide, building initiatives introduced by the Government of India. The economic scenario in India in 2013 deteriorated by bursting of the emerging market bubble, the growth rate was at a decade low. Moreover, the formation of the BRICS (Brazil, Russia, India, China, South Africa) turned out to be less beneficial than expected. The global investor's trust was falling; they did not know if investing in India was a risk or an opportunity. The people of India started doubting the country to be ‘too big to succeed or too big to fail’. The country was on the verge of economic failure. Make in India was a timely response to tackle this economic concern. It was an invitation to potential investors around the world to partner with the government to replace outdated processes and policies of manufacturing in the country. The Department of Industrial Policy and Promotion (DIPP) is responsible for the Make in India Campaign. The Government of India aims to make India a global Manufacturing hubby encouraging national as well as multinational companies to invest in the manufacturing sector in India. The aim of this paper is to study the impact of Make in India initiative on manufacturing facility in India. For the purpose of understanding, the scope of this paper is limited to three industries: Automobile, Telecom and Power Sector. While Automobile and Telecom sectors are extensively discussed, we are collecting data on power sector (renewables).