Was Make In India a fail or success?
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On September 25, 2014, the Indian government has launched the 'Make in India Initiative' in order to give thrust to the manufacturing sector's growth rate to 12-14 percent per annum, but after five years, the initiative has failed to achieve its objective due to the various parameters. What is Make in India (Beginning of Indigenous Manufacturing): ‘Make in India’ is a major national initiative that focuses on making India a global manufacturing hub.
Objective: The initiative motivated to increase the manufacturing sector’s growth rate to 12-14 percent per annum in order to increase this sector’s share in the economy.
The initiative also intended to create 100 million additional jobs to the economy, so that the overall growth of the economy can be achieved.
The other objective is to ensure that the manufacturing sector which contributes around 15% of the country’s Gross Domestic Products is increased to 25% in the next few years.
'Make in India' also aims to create a conducive environment for investment, development of modern and efficient infrastructure, opening up new sectors for foreign investment
Key Thrust of the Programme: The key thrust of the programme is oriented on Cutting down in delays in manufacturing projects clearance.
And also develop adequate infrastructure and make it easier for companies to do business in India.
Key Sectors under the Programme: The key sectors identified under the program are enlisted in the below sections:
Automobiles, auto components, biotechnology, chemicals, defense manufacturing, electronic systems, food processing, leather, mining, oil & gas, ports, railways, ports, and textiles.
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