BENEFITS OF MAKE IN INDIA IN PROMOTING INTERNAL AND EXTERNAL TRADE

Make in India is a  national program, introduced by the Indian Government in encouraging new initiatives and promoting FDI. The main aim is to manufacture products within the country. It is aimed at boosting the internal and external trade of the country, internal trade means within the borders of the country, and external refers to trade between two or more countries. Make in India, has aimed, at increasing job opportunities, innovation, skill development, building the best infrastructure in the country, and protect intellectual property. The manufacturing sector of the country needs to be strengthened, which is possible through attracting investments, from around the globe.

Benefits of “make in India” has helped and is intended towards internal and external trade:-

  • “Make in India’ focuses on using the Indian talent and skills in every endeavor to the fullest.  The secondary and tertiary sector empowerment is very crucial for the country’s development.
  • The 25 sectors are targeted to be developed to increase the trade within and outside the country to encourage foreign direct investment.
  • Automobile, automobile components, biotechnology, defense manufacturing, electrical, IT, tourism, media and entertainment, construction, pharmaceuticals, machinery, food processing, mining, oil and gas, construction, and chemicals are some of the sectors.  It can be an export-based economy manufacturing defect-free products.
  • A 100% FDI on the railway, has been allowed, by the Indian government.
  • The restriction on constructions is removed. The cap of FDI is increased, to 100% on defense and pharmaceutical.

As per, “make in India” website, the FDI inflow from 2014 to 2019 is 46.94% of the FDI received since April 2000. Due to the investment encouraging policies, various FDI allowances in various sectors have increased. Since the launch, the country has seen a positive trend, the FDI equity trend has increased, to $2.09 bn during 2017-18.

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