Impact of Information Technological Applications in Economic Development in Start-up India

The award recognizes that economic development and the Make in India initiative has become a catalyst to India's booming domestic manufacturing sector but proper information technological applications it seems to be impossible. There are various IT Applications that play an important role in cashless economy, such as Phonepay, PayTm, AdhaarPay, SBIPay, BHIM payment applications of online payment. Make in India is a campaign that Prime Minister Narendra Modi has launched on 25th September 2014 to challenge the ways India's economy is currently working. The main motive behind this campaign is to make India one of the leading countries in this competitive world by promoting manufacturing within the country. Led by the Department of Industrial Policy and Promotion, the initiative aims to raise the contribution of the manufacturing sector to 25% of the Gross Domestic Product (GDP) by the year 2025 from its current 16%. Make in India has introduced multiple new initiatives, promoting foreign direct investment, implementing intellectual property rights and developing the manufacturing sector. It targets 25 sectors of the economy which range from automobile to Information Technology (IT) & Business Process Management (BPM). In this paper we have discussed the pillar of Make in India, The objectives of Make in India, Impact of Startup India in Manufacturing Sector, Advantages and Disadvantages of Make in India.