The Make in India initiative for giving a push to Indian manufacturing and the look east link west policy has received much hype. What according to you are the challenges facing this ambitious and bold national programme declared by the PM?
I have challenges that the "Make in India" could face:
1. Creating healthy business environment will be possible only when the administrative machinery is efficient. India has been very stringen when it comes to procedural and regulatory clearances. A business-friendly environment will only be created in India can signal easier approval of projects and set up hassle-free clearance mechanism.
2. India's small and medium-sized industries can play a big role in making the country take the next big leap in manufacturing. The government has to chart out plans to give special sops and privileges to these sectors.
3. India should urgently implement labour laws reform.
4. India should constantly keep up its strength so as to outpace China's supremacy in the manufacturing sector. India stands absymally low on ease of doing business global index below countries like Yemen & Sierra Leone.
5. India has to be better prepared and motivated to do world class R&D. The government must ensure that it provides platform for such research and development. To learn more download brochure on the link below.