General Awareness

April 04, 2017 @ 01:15 PM

April 04, 2017 @ 01:15 PM

Impact of 'Make in India'

  Published : Wednesday, 14 January, 2014 12:08 AM
  
MBA aspirants must be updated with General Awareness on current topics. General awareness topics with analytically drawn conclusions will benefit you in XAT, IIFT, CMAT,  MAT,  Essay writing, General Awareness sections besides in GD & PI.  
 
Today, you will read Current Affair Topic:
 
"Impact of “Make in India"
 
Inheriting a faltering economy, with GDP growth rate of under 5% (2013-2014), high inflation (9 to 11 %), fiscal deficit of $86.08 billion (2013-14), red tape and rampant corruption, Prime Minister NarendraModi had his task cut out. His immediate challenge was to dispel the uncertainty around the Indian economy and make it a preferred stop for investors. The 'Make in India' campaign was, thus, launched on 25th September 2014 and is part of the government's efforts to promote India as an investment friendly destination.
 
'Aim of 'Make in India'
 
The slogan clearly points to the government's aim to make India a global manufacturing hub. This signals a paradigm shift in focus, from tertiary to manufacturing. The government reckons that the next big push for the Indian economy will come from the manufacturing sector, which recorded a declining growth rate of 0.2% in 2013-14, according to the Ministry of Statistics and Programme Implementation. Manufacturing contributes only 15% to India's GDP and the government wants to raise it to 25%. For this, the government has identified 25 key sectors, which include: automobiles, auto components, bio-technology, chemicals, defence manufacturing, electronic systems, food processing, leather, mining, oil and gas, ports, railways, ports and textile.
 
Current Affairs Topic - Impact of 'Make in India'
 
Opportunity to resolve long pending issues
 
The 'Make in India' campaign is significant as it provides an opportunity to resolve long pending issues such as land acquisition, unpredictable tax regime, poor infrastructure, unreliable power supply and sluggish bureaucracy, all of which have contributed in dissuading investors from investing in India. The focus on manufacturing will drive growth in allied sectors as well, such as infrastructure and energy. To attract investors, it is also important to ensure safe places away from the city where they can set up their factories. Therefore, only a holistic plan to clear all bottlenecks, which have hindered growth, can put Indian economy back on the accelerator. 
 
Impact of 'Make in India'
 
The impact of this campaign will be felt both domestically and internationally. The development of the manufacturing sector will create employment opportunities for the youth of the country, alleviate poverty, attract investments, create value for Indian goods and fix the rising trade deficit. Internationally, it will improve India's standing in the world and investors will look at India not merely as a market but as an opportunity. The interaction between domestic and international firms will, inevitably, help transform domestic firms into MNCs. Just as China has emerged as the top manufacturing country in the world (replacing US in 2010), generating an estimated $2.9 trillion in output in 2012 according to United Nations, India, too, can exploit the advantages of democracy, demography and demand to transform itself into a self-reliant force, capable of meeting the aspirations of its own people as well as becoming a preferred destination for foreign funds. 
 
Current Affairs Topic - Impact of 'Make in India'
 
Furthering his development agenda, the Prime Minister has been making an aggressive pitch at various forums to woo not just Indian companies but foreign investors as well.   Though, it is too soon to predict the outcome of this particular campaign, the initial signs are encouraging. Foreign governments and investors are warming up to the 'Make in India' campaign. The US-India Business Council has identified upwards of $41 billion for investment in India by its members in the next 3 years. Japan has pledged to invest $33.6 billion in India within the next 5 years.  China, too, has pledged investments worth $20 billion. 
 
The government has backed this campaign by taking steps such as:
  • setting up 'Invest India' (will act as the first reference point for assisting investors)
  • setting up a dedicated web portal "http://www.makeinindia.com" to resolve all queries
  • setting up of an expert panel to redress grievances and handle queries of global and domestic investors within 24 hours
  • raising FDI caps in railways and defence production to 100% and 49% respectively      
The environment of positivity created by this campaign has significantly improved the
perception of the Indian economy.
 
 
Stay informed, Stay ahead and stay inspired with MBA Rendezvous

Crucial Dates, You Should not Miss

XAT 2018
Application Last Date 30th November 2017
IMI New Delhi
Application closes 4th December 2017
XIM Bhubaneshwar
Last Date 8th December 2017
SIBM Bengaluru
Apply for SNAP 2017 to be held on Dec 17 and apply for SIBM-Bengaluru through the SNAP Form
Institute of Rural Management Anand
IRMASAT will be conducted on February 4,2018, Apply Before December 31,2017
IBSAT 2017
Last date for IBSAT registration is December 12 , 2017
SSBF
Last date to register for SNAP is 24th November, 2017. Last date for SSBF is 2nd January 2018
SIBM Hyderabad
Apply for SNAP 2017 to be held on Dec 17 and apply for SIBM-Hyderabad through the SNAP Form
K J Somaiya Institute of Management Studies & Research, Mumbai
Last date for Application is 31st Jan, 2018
SDMIMD Mysore
Application for PGDM 2018-20 at SDMIMD is open till February 28, 2018
Institute of Management Technology
Application closes on November 24, 2017
MDI Murshidabad
Application for PGPM 2018-20 at MDI Murshidabad is open till November 24, 2017

Show More

Admission Open Now

Following Colleges are accepting applications.

INTERNATIONAL MANAGEMENT INSTITUTE

Admissions open for 2018-20

PGDM, PGDM (HRM), PGDM(B & FS), Executive PGDM

Apply Online