Presentation on MAKE IN INDIA- THE FUTURE.
- 1. Presentation on MAKE IN INDIA- THE FUTURE. -Presented by Kumar Abhinay.
- 2. INDEX ★ INTRODUCTION ★ KEY ELEMENTS ★ OBJECTIVES ★ WHY MAKE IN INDIA? ★ SECTORS ★ CONTRIBUTIONS BY THE SECTORS TO ECONOMY. ★ DEMOGRAPHIC DIVIDEND ★ REASON TO CHOOSE MANUFACTURING.
- 3. Make In India is an initiative by the Government of India to encourage multi- national, as well as national companies to manufacture their products in India. Prime Minister Narender Modi launched “MAKE IN INDIA” on September 25 2014 in a function at Vigyan Bhavan. Slogan - “ZERO DEFECT ZERO EFFECT” INTRODUCTION
- 4. 1. 25 sectors to work on initially. 2. 24 manufacturing cities identified. 3. 10% subsidy on production of equipments of pollution control, reducing energy consumption & water conservation 4. To speed up the decisions 5. A digital campaign just like “ Incredible India to go global. 6. Inclusion of all states to mobilize the policy, ministries and local bodies. KEY ELEMENTS
- 5. 1. Generate employment and create jobs. 2. Transform India into global manufacturing hub. 3. Foster Innovation. 4. Develop Skills. 5. Reduce Barriers to doing a business. 6. To urge both local and foreign companies to invest in India OBJECTIVES
- 6. The first and most important condition in order to make in India is to have a low inflation regime where policies are predictable and consistent. High inflation reduces two ingredients of a successful make in India campaign -Capital accumulation & -The rate of change in productivity. Beyond inflation, make in India investors will look for policy stability with respect to trade, duties i.e both import and export and taxation. Why Make In India?
- 7. SECTORS
- 8. CONTRIBUTION BY THE SECTORS TO ECONOMY
- 9. When natios reach a high ratio of such people, they are expected to earn something called a demographic dividend. This simply means that because most citizens are working, economic growth goes up. According to reports by 2020, India is set to become the world’s youngest country with 64% of its population in the working age group. Western countries, Japan and even China aging, this demographic potential offers India and its growing economy an edge that economists believe could add a significant 2% to the GDP growth rate annually. Prime Minister also had said that India is the only country in the world which offers the unique combination of democracy, demography, and demand from a rising middle class. DEMOGRAPHIC DIVIDEND
- 10. Manufacturing sector because major workforce of the country consists of unskilled labor which is engaged in manufacturing sector. During 2005-2012, India has only created 15 million jobs while as per the data, 10 million people join its workforce every year. Manufacturing offers the surest way to employ millions of workers in middle-income jobs. REASON TO CHOOSE MANUFACTURING
- 11. Demographic Dividend – 62% of population in Working Age Group 104 Million to be skill trained by 2022 New dynamic Skill Development & Entrepreneurship Policy National Occupation Standards laid down by Sector Skill Councils NSDC provides funding to build scalable, for-profit vocational training institutions (nsdcindia.org) Skill India - key challenge
- 12. Sustainability - Short, Medium & Long Term Principle of Co-Existence with Nature Innovations and Creativity Gainful Productive Employment Dignity of Labour & Equality Self Reliance, Sovereignty & Leadership Export Surplus Nation OUR VIEW POINT
- 13. REFERENCES ★ www.bankexamstoday.com ★ https://www.linkedin.com (PRESENTATIONS OF CAs) ★ www.makeinindia.com (OFFICIAL SITE) ★ www.slideshare.net ★ en.wikipedia.org/wiki/Make_in_India (WIKIPEDIA)