Journal Press India^®

Author Details ( * ) denotes Corresponding author

India’s growth performance has been diverse yet fascinating over a period of time. While agriculture and manufacturing were the dominant sectors during the pre-industrialisation and industrialisation period respectively, more recently, the services sector has emerged as the most important sector in terms of its contribution to GDP. The growing demands of service sector and its importance in the economy has led to a concern about the situation of India’s manufacturing sector. This study analyses the ‘Make in India’ initiative of the present government launched in September 2014, with the twin objectives of developing India as hub of business and manufacturing and generating massive employment opportunities for India’s teeming young population. The analysis indicates that Indian economy is gaining momentum slowly, and growth estimates are in line with projections made. India also has the best prospects for the growth opportunities in coming decade. Since this concept is new, it will take some years before analysts can effectively measure the success of this campaign.

Keywords

Manufacturing; Investors; Employment; FDI; Technology

1. Boon, R. (2001). Make for India better approach than Make in India, Journal of Management Research and Innovation, 4(1), 781-790.
2. Clark, C. (1940). The conditions of economic progress. London: Macmillan.
3. Dunning, J.H. (2004). Institutional reform, FDI and European transition economics. International Business and Governments, 4(1), 1-34.
4. Government of India. (2016). Economic Survey, 2015-16. Ministry of Finance.
5. Fisher, A.G.B. (1939). Production: Primary, secondary and tertiary. The Economic Journal, 15(1): 24-38.
6. Ghani, E. &, O’ Connell, S.D. (2014). Can services be a growth escalator in low income countries? Policy Research Working Paper No. 6971. Washington, DC: World Bank Group. 
7. Hausmann, R. Hwang, J. & Rodrik, D. (2007). What you export matters. Journal of Economic Growth 12(1), 1-25.
8. Johnson, S., Ostry, J. D., & Subramanian, A. (2010). Prospects for sustained growth in Africa: Benchmarking the constraints, IMF Staff Papers. 57(1), 119-71.
9. Klaus, A. (2003). India will be fastest growing country. Journal of Economic Analysis and Research, 6(3), 144-150.
10. Kuznets, S. (1966). Modern economic growth: Rate, structure and spread. New Delhi: Oxford and IBH Publishing Co.
11. Kuznets, S. (1973). Modern economic growth: Findings and reflections. Amercian Economic Review, 63(3), 247–258.
12. Kochhar, K., Kumar. U., Rajan. R., Subramanian, A. &, Tokatlidis, I. (2006). India's pattern of development: What happened, what follows? Journal of Economics, 53(5), 981-1019.
13. Rodrik, D. (2013). Unconditional convergence in manufacturing. The Quarterly Journal of Economics, 128 (1), 165-204.
14. Sangwan, S. (2015). Making ‘Make in India’ realism: Role of FDI. International Journal of Applied Research, 1(7), 770-773.