Indian Journal of Science and Technology

Abstract

Background: In the present scenario “economy” and other related phenomena have taken the centre stage, every area of society; be it politics, business or professional; revolves around the principles of economy. In this competitive world, realising the interdependence of the globe for economic survival, the potential of India to set up production units and easy access to skilled and unskilled labour in the country, Prime Minister Narendra Modi came up with the notion ‘‘Make in India”. Objectives: The objective of this research is to explore the feasibility of launching a national call to become global manufacturing Hub. Method/Analysis: The study is based on both primary as well as secondary sources of information. Secondary data is collected from case studies, articles, journals, newspapers and magazines. Primary data was collected through a questionnaire survey over a group of 300 people from Pune in the age groups of 18-28 years, 28-40 years and 40-50 years in the 1:1:1 proportion. Views of eminent personalities were also duly considered. Findings: At the end the researcher concluded that it is indeed the right time to roll out ‘Make in India’ initiative. According to survey analysis, majority of the population strongly believed that India is fully prepared to host such an initiative which may initially sound difficult but would definitely be paying huge dividends soon in the terms of employment, economic development and prosperity to the nation. Study also delved upon the challenges and threats before the country today and inferred that though on one hand we have major challenges confronting our ways, but none of these barriers are insurmountable. The population strongly believed that we are capable enough to overcome these hurdles and become a global manufacturing hub. Positive experiences in past like Mission Mangalyaan and the fact that India - a democracy with 1.29 billion populations and that too mainly dominated by the young population in the age group of 10 to 24 years with good economic status and literacy rate seems to have affirmed their faith. Applications: On one side where many people are calling Make in India drive just a hoax and results of some studies are also averse to its feasibility, the results of this empirical study conducted over a sample that understands the topic well would be big a respite and very encouraging for the people who want to trust this move. After all it is this faith of the population which will decide the success of this initiative.
Keywords: Economy, Feasibility of ‘Make in India’, ‘Make in India’, Potential of India, Production units