Volume : 4, Issue : 1, January - 2015

CAN MAKE IN INDIA CAMPAIGN WILL BE ABLE TO PROMOTE SMALL SCALES INDUSTRIES OF INDIA

Debashis Mitra, Dr. Poonam Garg

Abstract :

<p>Make in India typically mean more openness, as we create an environment that makes our firms able to compete with< /> the rest of the world, and encourage foreign producers to come to take advantage of our environment to create jobs< /> in India. To mend the economy revival of demand and investment cycle is crucial.The government&rsquo;s intention to boost< /> domestic manufacturing and create new jobs, its proposal to introduce a new policy on micro, small and medium enterprises (MSMEs) deserves a< /> closer look, while govt&rsquo;s invitation to international companies to make investments has been receiving a lot of attention; the government&rsquo;s close< /> interaction with industry associations from different regions and sectors within India to discuss specific problems inhibiting domestic enterprises< /> deserves equal consideration. Terming the Make in India campaign as extremely progressive, industry experts and analysis said the move would< /> help the small scale sectors. However, to boost domestic manufacturing in MSMEs, new policy must be formulated.India&rsquo;s MSME sector has< /> recorded more than 10% growth in recent years despite the economic slowdown. MSME contribute nearly eight percent to the national GDP< /> employing over eight crore people in nearly four crore enterprises and accounting for 45% of manufactured output and 40% exports from India.< /> Thus the focus of the government on MSMEs on this juncture is justified</p>