March - 2016 - Special issue > CXO Insights
Make in India: A Vision for betterment
Mr. Sunil Agarwal, Director, Vinod Cookware
'Make in India' is an ambitious initiative by the government of India to promote India as a global manufacturing hub nationally and abroad; thereby boosting the country's economic prospect. Well, this is a great opportunity for the government to position India as a manufacturing powerhouse able to match up the dominance of the developed countries on the world stage while encouraging entrepreneurship, creating employment for over 10 million people, and attracting Foreign Direct Investment in India.
As we follow Make in India, this welcomes emphasis in our foreign investment policy on efficient and competitive domestic manufacturing which will also serve multiple objectives in India.
Considering that the raw material is available all around the world and by manufacturing the goods here in India itself will enhance job opportunities within the country as the size of our domestic market and the abundant availability of skilled and technical manpower at low cost is a leverage that we need to put to use consciously to induce foreign investors to make India as a manufacturing hub in their operations. Also India is famous for its minimalist engineering and even the smallest scrap in India is put to its best use.
Thus this will lead to the minimization of the import of products into the country, thereby reducing the pressure on our trade deficit. Also in the long run, it will help increase and diversify our exports from the manufacturing sector, thereby increasing the revenue for the country.
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