‘Make in India’ has not eased manufacturing woes
Despite its ambitious targets, NDA’s ‘Make in India’ has failed to improve investment, employment, and exports in India’s manufacturing sector
One area where this government has fared relatively better has been in attracting foreign direct investment (FDI) to the country
MUMBAI : When the Bharatiya Janata Party (BJP) swept into power in 2014, one of its first acts was to launch the ‘Make in India’ initiative with the ambitious vow of converting India into a global manufacturing hub. Specifically, the government set targets to increase growth in the manufacturing sector to 12-14% per annum, pull up the share of manufacturing in gross domestic product (GDP) to 25% by 2022 (from 16%) and create 100 million jobs in manufacturing.