Good Signs of Make In India Initiative
Government of India launched a very ambitious initiative on 25 Sept 2014 - Make In India. As anyone can guess this was to increase the investments in India in the core sectors such as manufacturing, biotechnology, aviation, construction and thus increasing the employment and entrepreneurship.
Until now, we were getting only the news about who has promised investment in India and how much. But announcements usually outnumber actual actions. Now that it is little over a year from the start of the initiative, we are seeing some progress happening through this initiative. Xiaomi and Huawei have already started their manufacturing plants in India. Lenovo joined in recently with their Motorola smartphone plant near Chennai. Total proposals for investment received so far are said to be Rs. 1.10 lakh crore. While the three entities mentioned above would form only a tiny fraction, another news came in which was more heartening and encouraging.
IITs - our elite institutes - have caught the Make In India bug. Reportedly, many students have opted for companies in core sectors over the fat pay packages from MNCs. These institutes, specifically IIT Mumbai and IIT Rurkee also helped the initiative by granting earlier slots for these core companies. The pay package difference is huge. But still students have opted for Core companies. The reason sited for this is - "The remuneration in the core sectors initially may seem less but evens out in the long run."
If this trend continues, we should see the a very good inflow of talent in Make In India initiative and it will be a big boost for every Indian.