The manufacturing sector of the nation contributes to 15 percent of the total GDP. However, it is estimated that the potential is much more compared to its present contribution. The major roadblocks for the growth and development of this sector are bureaucratic hurdles, too much red tape as well as severe flip-flops in the policies. This is very well represented in India’s depressing rank among countries where doing business in easy, which is now at 134th position.
To overcome all this, PM Narendra Modi announced the campaign ‘Make in India’, a unique and first-ever program aimed at increasing the manufacturing and production process in India. It will increase jobs in private sector and public sector. During his stint as the CM of Gujarat, Modi focused on balanced development of manufacturing and agriculture jobs. This balance was further quantified during his speech at Madison Garden, NYK where he defined a healthy and growing economy as one consisting of one-third manufacturing, one-third agriculture and one-third services. Therefore, even if any of the above sectors face de-growth, the treat to economy will be minimal.
Back home, it is expected that the current campaign will be immensely helpful in creating Govt jobs, Private Jobs and employment opportunities across the nation. As per experts, both services and industrial sectors will be benefited. Small, medium as well as micro enterprises (MSME) will be the largest benefiter because of this unique indigenous campaign. At present, the employment opportunities are far greater in services sector compared to agricultural and with the help of this indigenous campaign, the focus will be to bring in-house manufacturing and production, thereby greater employment options for the youth.
Looking at more practical terms, the MSME will be favorable for the increasing number of engineering students, especially those not enjoying the perks of large IT companies. Skill development and vocational programs is expected to take momentum and with growth the manufacturing, the industrial sector will boom.
The services sector will see a boom in areas such as banking, finance, management as well as insurance. It is forecasted that by 2020, more than 22 lakh Govt Jobs including private jobs shall be available within the services sector. Electronics, IT, automobile, construction, ITes, bio-medical mechanical, agribusiness and electrical sectors will see enormous growth in their career market. Other sectors that have been taken under the purview of the ‘Make in India’ campaign are vehicle engineering, robotics, nanotechnology, agricultural engineering, nuclear engineering, seaport engineering, fashion designing, interior design, environmental engineering, web technologies, social media and medicinal chemistry to name a few. Thus, it is evident from the campaign strategy that the objective is to create traditional as well as non-conventional jobs so that Indian youth become the backbone of the nation’s growth and economical boost in all spheres.
Nasscom, one of India’s premier software and IT trade service association took the first step in this indigenous campaign by launching start-up warehouse especially for the entrepreneur community and tech start-ups across Bangalore. The objective is to nurture a minimum of 10,000 start-ups within a time-period of 10 years and provide major enhancement in the development of home-grown software products.
The success of this indigenous campaign relies heavily on the ability and enthusiasm of the youth as well as capacity of the new startups and companies to drive change.