From ‘Made in India’ to ‘Make in India’, Prime Minister Narendra Modi’s campaign to turn India into a global production hub with stress on quality aims at reviving the job-creating manufacturing sector – key to taking the economy on a sustainable high growth path surely will give boost to the sagging GDP. Beginning first Navratra, the launch of the campaign holds importance especially wooing capital to India from abroad. With his “Come, make in India” slogan in his Independence Day speech, Modi had invited global companies to set up manufacturing units in India. For the launch, the government is likely to invite the who’s who of the global corporate sector from the US, Japan, Korea, Sweden, Poland, Australia, China, Italy, Germany and France. The campaign includes invitations to the world’s top 3,000 companies to explore investment possibilities in India. The objective is to take manufacturing growth on a sustainable basis to 10 per cent over the long term. The Department of Industrial Policy and Promotion has set up an eight-member expert panel to redress grievances and handle queries of global and domestic investors within 24 hours. Its role will be to provide information and solve investors’ problems. Panel to work with states to ease investment process, ‘Make in India’ campaign will eventually take up policy reforms involving changes in laws to ensure ease of doing business in the country. An infrastructure push and tax issues are also on the cards, with the setting up of an eight-member expert panel by the Department of Industrial Policy and Promotion. Besides interfacing with investors, team Invest India will also work with Central and states departments to resolve policy and other issues. De-bureaucratisation and deregulation would be the bench mark to ensure officials mindsets change from being permits issuers to partners in investment processes. The latest World Bank report on the ‘ease of doing business’ placed India at the 134th rank out of 189 economies on various parameters relating to business and regulatory environment. By making a change in the thought process Modi government would be able to get better placing for India’s business environments.
