CAN MAKE IN INDIA CAMPAIGN WILL BE ABLE TO PROMOTE SMALL SCALES INDUSTRIES OF INDIA

DEBASHIS MITRA; DR. POONAM GARG

Volume : IV, Issue : I, January - 2015

CAN MAKE IN INDIA CAMPAIGN WILL BE ABLE TO PROMOTE SMALL SCALES INDUSTRIES OF INDIA

Debashis Mitra, Dr. Poonam Garg

Abstract :

Make in India typically mean more openness, as we create an environment that makes our firms able to compete with the rest of the world, and encourage foreign producers to come to take advantage of our environment to create jobs in India. To mend the economy revival of demand and investment cycle is crucial.The government�s intention to boost domestic manufacturing and create new jobs, its proposal to introduce a new policy on micro, small and medium enterprises (MSMEs) deserves a closer look, while govt�s invitation to international companies to make investments has been receiving a lot of attention; the government�s close interaction with industry associations from different regions and sectors within India to discuss specific problems inhibiting domestic enterprises deserves equal consideration. Terming the Make in India campaign as extremely progressive, industry experts and analysis said the move would help the small scale sectors. However, to boost domestic manufacturing in MSMEs, new policy must be formulated.India�s MSME sector has recorded more than 10% growth in recent years despite the economic slowdown. MSME contribute nearly eight percent to the national GDP employing over eight crore people in nearly four crore enterprises and accounting for 45% of manufactured output and 40% exports from India. Thus the focus of the government on MSMEs on this juncture is justified