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STRATEGY FOR NEW INDIA @ 75 INDUSTRY (WHAT ARE ISSUES? (INDIA'S…
STRATEGY FOR
NEW INDIA @ 75
INDUSTRY
WHAT ARE THE OBJECTIVES
GOAL 1: DOUBLE THE CURRENT GROWTH RATE OF THE MANUFACTURING SECTOR BY 2022.
INDIA IS THE FIFTH LARGEST MANUFACTURER IN THE WORLD
A COMPOUND ANNUAL GROWTH RATE (CAGR) OF AROUND
7.7 PER CENT BETWEEN 2012-13 AND 2017-18
GOAL 2: • PROMOTE ADOPTION OF THE LATEST TECHNOLOGY ADVANCEMENTS
REFFERED TO AS INDUSTRY 4.0
THAT WILL SHAPE MANUFACTURING SECTOR IN 2022
WHAT ARE ISSUES?
INDIA'S RANK IN WORLD BANK'S EASE OF DOING BUSINESS (EODB) IN 77TH IN 2019
THOUGH INDIA SIGNIFICANTLY IMPROVED FROM 139 TO 77TH
BUT STILL MUCH PROGRESS NEED TO BE DONE
ACTUAL IMPROVEMENT IN EODB WILL COME ONLY WITH GREATER COORDINATION BETWEEN THE CENTRE AND STATES
INDIA’S RANK IN TERMS OF ANNUAL FDI INFLOWS FROM 14
IN 2010 TO 9 IN 2017
BUT INDIA GETS ONLY 25 % OF THE FDI THAT CHINA AND ONLY 10 %
OF WHAT THE USA RECEIVES
REGULATORY UNCERTAINTY
LIKE RETROSPECTIVE TAXATION
INVESTMENT:
THERE HAS BEEN SLOWDOWN IN INVESTMENT SINCE 2011-12
REASONS
NPA
GLOBAL FINANCIAL CRISIS
PROBLEM IN LAND AQUISTION IN INDIA AFTER LARR ACT 2013 AND STRINGENT ENVIRONMENT
DISRUPTIVE TECHNOLOGIES
INDUSTRY 4.0
POSES A THREAT TO ORGANISED AND UNORGANISED MSME
DATA SECURITY
POSES A CHALLENGE FOR MSME FOR ADOPTION OF THESE TECHNOLOGY
EXPORTS AND INSUFFICIENT DOMESTIC DEMAND
INDIA'S INDUSTRAIL GROWTH IS NOT EXPORT DRIVEN
DOMESTIC DEMAND MAY GET STAGNANT IN SOME TIME
RECENT GOVT. INITAITIVES TO BOOST MANUFACTURING
MAKE IN INDIA
AIMED AT INCREASING THE MANUFACTURING SECTOR’S CONTRIBUTION TO 25 % OF GDP BY 2020
START-UP INDIA
TO PROMOTE ENTREPRENEURSHIP
AND NURTURE
INNOVATION
MUDRA AND STAND-UP
INDIA
TO FACILITATE ACCESS TO CREDIT FOR PROMOTION OF MSME
INDRADHANUSH PLAN (RECAPITALISATION OF BANKS)
SETTING UP INDUSTRAIL CORRIDOR
LIKE DMIC
WHAT SHOULD INDIA DO?
MEGA PUBLIC PROJECTS
:heavy_plus_sign:
PROCESS SIMPLIFICATION (LIKE SINGLE WINDOW CLEARANCE)
FOR EG: BHARATMALA, SAGARMALA, PRADHAN MANTRI AWAS YOJANA ETC
TO GENERATE DOMESTIC DEMAND FOR MANUFACTURING SECTOR
THE MADHEPURA MODEL
TO REPLICATED IN THE DEFENCE, AEROSPACE,RAILWAYS AND SHIPPING SECTORS
WHAT IS MADHEPURA MODEL?
THE MADHEPURA ELECTRIC LOCOMOTIVE PROJECT, A JOINT VENTURE BETWEEN THE INDIAN RAILWAYS AND THE FRENCH MULTINATIONAL ALSTOM
LOGISTICS REVOLUTION
SO THAT INDIA'S SUPPLY CHAIN TO IN SYNC WHICH GLOBAL SUPPLY CHAIN
CLUSTER BASED MANUFACTURING
DISRUPTIVE TECHNOLOGY, (INDUSTRY 4.0)
THOUGH A CHALLENGE LEADING TO JOB LOSS BUT ALSO A OPPORTUNITY FOR JOB CREATION
INDIA NEEDS TO UPGRADE ITS EDUCATION MODEL SO THAT YOUTH CAN BE TRAINED INTO HIGH VALUE SKILL S