IS “MAKE IN INDIA”: WORKING?

 

IS THE LION REALLY POUNDING?

Let The Lion Leap, a frenetic initiative which laid its foundation on 25th September 2014. It evolved like a revolution to help India attain a mark on the Global front by focusing on the top 25 sectors of the economy.

“A MAJOR NATIONAL INITIATIVE. DESIGNED TO FACILITATE INVESTMENT. FOSTER INNOVATION. ENHANCE SKILL DEVELOPMENT. PROTECT INTELLECTUAL PROPERTY. AND BUILD BEST-IN-CLASS MANUFACTURING INFRASTRUCTURE. THERE HAS NEVER BEEN A BETTER TIME TO MAKE IN INDIA.”

The government has made remarkable efforts to improve the ease of doing business in the country and this initiative startled all the nations worldwide. Almost all the countries are willing to invest in India.

A couple of eminent projects were announced during the year.

  • SunEdison, the Missouri based power company intends to invest $ 4 billion to build a solar panel factory in India.
  • Foxconn, the Taiwanese manufacturer of iPhones intends to invest $ 5 billion to build a manufacturing unit in Maharashtra in next five years.
  • Mercedes-Benz will be doubling its annual capacity in India to 20,000 units, thanks to the Make in India project.

Nonetheless, India replaced China as a Leading recipient of capital investment in Asia- Pacific with an FDI of $ 63 billion.

Let’s probe the viability trends of this initiative in line with the dynamic landscape of Indian companies by using Company registration trends based on the data gathered from MCA from 2014 to date.

It is evident from the graph above, owing to the “Make in India” campaign, that the number of companies getting incorporated is growing at a healthy rate of 450 companies a day on an average.

In the current year, 2017, its been almost a month and about 17465 companies to be precise, have been registered already.

Every company that is registered in India falls under one of the following categories:

  • Finance
  • Manufacturing
  • Business Services
  • Trading
  • Construction
  • Agriculture and Allied Activities
  • Real Estate and Renting
  • Community, personal & Social Services
  • Transport, storage and Communications
  • Mining & Quarrying
  • Electricity, Gas & Water companies
  • Insurance

Manufacturing comprises 9 categories. For the sake of convenience, I have grouped them all under the Manufacturing umbrella.

All technology-related companies are registered under the Business Services category, which captures almost half of the total number of companies registered.

According to the State-wise Distribution, Delhi is acing the charts with 59696 companies being registered. It is followed by Mumbai and Bangalore.

Overall, all the states have shown a marked improvement in keeping in mind their past performance.

This initiative looks very promising. It's not a time-based initiative, and expecting results within a blink of an eye are futile. This requires a proper gestation period. Many more companies are ready to invest soon, to create a lot of job opportunities and enhance the well- being of the masses.

The Bait is set, our lion is all ready to pound !!!


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