REVITALIZING INDIAN MANUFACTURING: MAKE IN INDIA'S ROLE IN EMPOWERING MSMEs
Keywords:
Make In India, MSMs, GDP, Economy, Manufacturing Sector, InvestmentAbstract
India's economy, which ranks sixth in the world in terms of nominal GDP, is among the fastest growing in the world. With the goal of transforming India into a global manufacturing hub Narendra Modi ji, the PM of India, announced the Make in India initiative on September 25, 2014, as an international marketing approach to attract investments from businesses all over the globe and make India the manufacturing hub. India has started a comprehensive "Make in India" movement in an attempt to become a worldwide manufacturing powerhouse. Numerous reforms were implemented to support India's manufacturing, design, MSMEs, innovation, and startups. As part of its claimed objective of making India economically self-reliant, the "Atma Nirbhar Bharat" programme, which was launched in 2020, was also designed to further stimulate local manufacturing. The "Make in India" programme, which aims to attract investments and collaborations between Indian and international businesses in the manufacturing sector, is said to be extremely pertinent for India's MSMEs. The MSME sector is the nursery of industrialization of the country. This present study relies on secondary data. This article examines the concept of Make in India initiative’s contribution to the growth of the manufacturing sector. This paper also aims to comprehend the advantages of the Make in India campaign for MSMEs and the government's support in fostering this industry's expansion and lastly gives some suggestions for successful implementation of this campaign.
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