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The Impact of the Make in India Initiative and PLI

Make in India initiative is driving the growth of the Indian Economy. Product-linked incentives play a crucial part in the inclusivity of MSMEs.

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Bharti Trehan
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The Impact of the Make in India Initiative and PLI

Make in India Initiative and PLI

Make in India initiative has been a transformative force in the nation’s approach to manufacturing, particularly within the IT hardware sector. This program aims to position India as a key player in the global manufacturing landscape, attracting significant investments and promoting innovation.

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With a focus on large-scale production of laptops, tablets, servers, and other IT hardware, the initiative is not just about enhancing India’s manufacturing capacities but also about creating a strong and self-reliant ecosystem that can cater to both domestic and international markets. 

As the world increasingly turns digital, the Make in India campaign is set to play a crucial role in meeting the increasing demand for IT hardware, driving economic growth, and establishing India as a hub of technological progress.

Insights of the CMDA President on the Make in India Initiative

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In an exclusive interaction with DQ Channels, Puneet Singhal, President of CMDA, Delhi shared his insights on the Make in India initiative. He emphasized how this initiative can help boost the economic development of India and attain new milestones.

"Make in India is an excellent initiative by the present regime as it is progressive in nature. If implemented with sincerity, it will significantly boost the economy. Make in India in a true sense means import substitution, which, in turn, means saving our precious foreign exchange.

To encourage this initiative, the government has introduced Product Linked Incentives (PLI), which is a commendable step. However, more thought must be given to make it more inclusive to cover more MSMEs and products.

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The government and corporations are the biggest buyers, but they are still not fully committed to buying and encouraging MII. A holistic and focused approach is needed to increase the consumption of products manufactured in India, even if it means circumventing the “Free Trade Policy” (WTO). National icons need to promote Make in India products with a focus on ensuring deep penetration in society to reject imported goods.

More products need to be brought under the BIS with our own country’s standards so that substandard products, mainly imported from China, can be barred and our quality domestic products promoted. Additionally, the government must ensure that the policy encourages components with zero or low import duty tariffs while imposing extremely high import duty tariffs on finished goods, and in many cases, implementing dumping duties.

To adopt a holistic approach to creating hubs for different products and verticals, more engagement is required with genuine trade bodies. Manufacturing up to the component level is the ultimate goal, notwithstanding the fact that we should not be shy about starting with assembling.

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We will soon become a 5 trillion economy and the 3rd largest economy if the Make in India initiative is implemented in its true spirit." he concluded.

In conclusion, the Make in India initiative works as a testament to India’s commitment to revitalizing its manufacturing sector, particularly in IT hardware. The program’s success depends on sincere implementation and the collective efforts of the government, industry leaders, and consumers.

By prioritizing import substitution, incentivizing domestic production, and setting strict quality standards, India is going to conserve foreign exchange and stimulate economic growth. The initiative’s focus on inclusivity, encouraging the consumption of domestically produced goods, and facilitating manufacturing down to the component level, highlights its comprehensive strategy. 

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As India continues to steer the path towards becoming a global manufacturing hub, the Make in India campaign could be the catalyst that drives the nation towards achieving its economic landmarks and securing its place as the world’s third-largest economy.

 

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