A decade has passed since the “Make in India” initiative was launched, radically transforming India’s manufacturing landscape. Endorsed by Prime Minister Narendra Modi as a vision to make India a global manufacturing hub, this initiative transformed as a pledge to the world. “Make in India has become a brand recognised globally,” PM Modi has stated, emphasising the initiative’s role in projecting India’s potential on the world stage. As Machine Maker celebrates this transformative decade, we commit to bringing forward 100 stories of innovation and excellence in the coming year.
Launched by Prime Minister Narendra Modi during his first term, the “Make in India” initiative marked a significant stride towards repositioning India as a global manufacturing epicenter. Over the past decade, this initiative has not only reshaped the national economic landscape but also significantly enhanced India’s stature on the international stage. It aimed to encourage both domestic and international companies to manufacture in India, leading to substantial growth in various sectors, increased foreign direct investments, and a notable improvement in India’s ease of doing business ranking.
“Make in India” was a game-changer for the Indian economy, attracting foreign direct investment, fostering innovation, and creating jobs. Prime Minister Narendra Modi’s vision was clear: “Our vision is to make India a global manufacturing hub.” India has seen remarkable growth in the automotive, electronics, pharmaceuticals, textiles, and defence sectors by focusing on quality, delivering on time, and adhering to global standards.
Make in India: Transforming India’s Brand Globally
The “Make in India” campaign has significantly impacted India’s economic landscape over the past decade, notably enhancing the country’s global manufacturing hub status. Key successes highlighted include substantial growth in homegrown brands across various sectors, a marked increase in India’s exports, and a notable shift in consumer preference towards locally manufactured products. Moreover, it has fostered economic development across diverse sectors, reduced product costs, increased category penetration, and significantly moved India towards its $5 trillion economic goal. These achievements underscore “Make in India”‘s role in transforming India’s economic narrative.
The “Make in India” initiative has significantly enhanced the ease of doing business (EoDB) in the country, catapulting India from 142nd to 63rd in the World Bank’s EoDB rankings from 2014 to 2019. This leap reflects significant reforms aimed at simplifying business regulations and fostering a more business-friendly environment. Efforts have included reducing compliance burdens, decriminalising legal provisions, and improving processes across key business functions such as starting a business, dealing with construction permits, and trading across borders.
Key Achievements of Make in India
- Manufacturing Growth: Significant sectoral growth, demonstrating India’s capabilities to the world.
- FDI Surge: Enhanced policies under “Make in India” have made India a top destination for foreign investment.
- Innovation Ecosystem: The initiative has cultivated an environment ripe for research and development.
- Global Partnerships: Strategic collaborations have advanced India’s manufacturing and export capabilities.
- Infrastructure Development: Investments in infrastructure have facilitated a smoother supply chain and logistics network.
10 Years of Make in India: Celebrating With 100 Stories
Machine Maker’s campaign to feature 100 stories over the next nine months is a tribute to the entrepreneurial spirit and innovation that “Make in India” embodies. These stories will celebrate achievements and inspire future generations to contribute to India’s manufacturing legacy. We invite you to join us in this year-long celebration to acknowledge the past and to contribute towards a future where India continues to shine as a manufacturing leader. “Let us all believe in our dreams, for in them lies the beautiful future of India,” echoes Modi’s sentiment.
Reflecting on a decade of “Make in India,” we stand at the cusp of a new era of manufacturing excellence. PM Modi aptly says, “We have given the world a taste of India’s capabilities.” Let’s continue to build on this foundation, pushing towards a sustainable and innovative future. With the dawn of digital transformation, artificial intelligence, and green manufacturing, “Make in India” is poised for even more incredible advancements. “The future belongs to technology and innovation,” PM Modi asserts, urging the nation to embrace these changes.
