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Make in India: Success or Failure? A Critical Analysis

Make in India aimed to transform the country into a global manufacturing hub by attracting foreign investment, promoting domestic industries, and generating employment. The initiative focused on 25 key sectors, including automobiles, textiles, defense, and electronics, among others.

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Make in India: Success or Failure? A Critical Analysis

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  1. Finowings Make in India Success or Failure? A Critical Analysis

  2. Introduction •Launched in 2014, Make in India aimed to transform India into a global manufacturing hub. • •Key Goals: •- Boost domestic manufacturing •- Increase foreign direct investment (FDI) •- Generate employment opportunities

  3. Achievements of Make in India Achievements of Make in India Increase in Foreign Direct Investment (FDI): FDI inflows surged from $45 billion in 2014 to over $80 billion in 2022 Increase in Foreign Direct Investment (FDI): FDI inflows surged from $45 billion in 2014 to over $80 billion in 2022 Improved Ease of Doing Business: India jumped from 142nd place in 2014 to 63rd in 2020 Improved Ease of Doing Business: India jumped from 142nd place in 2014 to 63rd in 2020 Growth in Domestic Manufacturing: India became the second-largest mobile phone manufacturer globally Growth in Domestic Manufacturing: India became the second-largest mobile phone manufacturer globally Infrastructure Development: Initiatives like industrial corridors, smart cities, and logistics improvements have enhanced manufacturing competitiveness have enhanced manufacturing competitiveness Infrastructure Development: Initiatives like industrial corridors, smart cities, and logistics improvements

  4. Challenges & Shortcomings unemployment remains high at 7-8% Dependence on imports for key industries Slow implementation of policies Competition from China, Vietnam, and Bangladesh COVID-19, supply chain issues

  5. Success or Failure •Make in India has had mixed results: • •✔ Success: •- Boosted FDI & manufacturing •- Strengthened infrastructure •❌ Failures: •- Insufficient job creation •- Slow execution of policies •- Dependency on imports • •More reforms & policy improvements needed for long-term success.

  6. Conclusion •Make in India is neither a complete success nor a failure—it is a work in progress. •Future Focus: •- Strengthen domestic supply chains •- Improve skill development •- Reduce bureaucratic hurdles •With the right interventions, India can achieve its manufacturing ambitions.

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