Make In India Poem by Alok Agarwal

A lot has changed since Alisha Chinai released Made in India in 1995 to Narendra Modi's unveiling of Make in India campaign in 2014. The first set of economic reforms was introduced in early 1990s and cemented a strong Indian position in the economic world map. These reforms were pioneered by the then Finance Minister Manmohan Singh and eliminated much of prevalent License Raj. This was further strengthened by PM Atal Bihari Vajpayee's project of golden quadrilateral; and focus was on infrastructure development. The country's GDP reached new heights with enhanced levels of per capita income and inclusive growth. India became third largest country in terms of purchasing power parity.

The benefits of these reforms started declining by 2006 and reached saturation by the end of 2010. The weak coalition government at the center faced many roadblocks in pushing new set of economic policies leading to economic stagnation and widespread discontent among the general public.

The 2014 Lok Sabha elections saw the emergence of a new political culture in the country, with the focus shifting from politics of caste to politics of development. The clear cut majority at the center provided the government the teeth at the right time before anything went astray.

The launch of Prime Minister's conceptual ‘Make in India' could not have come at a better time. With the developed countries searching for new markets, and India looking for breathing space in core manufacturing sector; it was a win-win situation for all. The humongous domestic market of India and ready availability of cheap skilled and unskilled labor is sure to lure investors.

From India's point of view, the campaign is aimed at heavy industries and public enterprises while providing job opportunities to a country with the highest demographic dividend. The economy is young and so are its people. There is a dedicated attempt to attract foreign investments by calling businesses from all around the globe. Besides providing employment, it will serve to reduce imports thus mitigating the ill effects of trade deficit; and in the long run help increase our exports. There is added benefit of technology transfer instead of just purchasing ready-made items from the external world.

The best way to ensure that the objectives are met is by providing a level playing competitive field where survival of the fittest takes place. This has to be facilitated by providing them the right environment; an environment that eliminates unnecessary laws and regulations, an environment that makes bureaucratic processes simple and supportive, and at the same time making government transparent and responsible. Another key player in realizing the above said objectives is by implementing a transparent and user-friendly intellectual property rights. At no point of time, the innovator must feel that he is robbed of his due credit.

In this context The National Manufacturing Policy is made by the government. The policy is the first of its kind addressing areas of regulation, skill development, technology, availability of finance, exit mechanism and other pertinent factors related to the growth of the sector. Another key feature of this campaign is time-bound project clearance through a single online portal which is dedicated to answering investor queries within 48 hours and addressing key issues like labor laws, skill development and infrastructure.

But in the fanfare following, the government must refrain itself from following unethical routes in realizing its dreams. The ordinance route taken for controversial Land Acquisition Act was widely criticized in public arena. This was a source of embarrassment for the government when the President of India referred to this in his presidential speech of Republic Day 2015. The passing of an Act without parliamentary discussion is something that is against the democratic principles of this country and requires introspection by the government in power.

The policies are made in the right spirit with zero defect and maximum effect. The onus now lies on the Union Budget 2015, so that the campaign can be provided the platform to realize its full potential. It is the perfect time to get the perfect matrix of fund allocation to all sectors that contribute to GDP.

Lastly, there was never a better time to make in India.