Impact of "Make in India" in Indian Economy

Make In India, is buzzword initiated for the sole purpose of inviting various commercial sectors from all around the world, to engineer their products in India and sell them anywhere they wish. The crusade had instigated on 25th September 2014, and since then has emerged as one of the grandest triumphs of the Indian economy. Both the policies seem to benefit the Indian economy in their respective ways. On one hand, Make in India will boost foreign investments in the economy and on the other, Made in India will help the country being self reliant in terms of manufacturing of products. Therefore, a logical route is needed to be adopted. India is expected to be the third largest consumer economy as its consumption may triple to US$ 4 trillion by 2025, owing to shift in consumer behavior and expenditure pattern, according to a Boston Consulting Group BCG report and is estimated to surpass USA to become the second largest economy in terms of purchasing power parity PPP by the year 2040, according to a report by PricewaterhouseCoopers. With this initiative, Mr. Modi is literally inviting the rich and semi rich countries to step in India and invest their money for the future of India. It's like inviting the countries to set up their companies in India and manufactured in the territory of our country. Sell everywhere but manufacture in India sums it up all. Dr. Richa Srivastava "Impact of "Make in India in Indian Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23728.pdf