‘Make in India' - Some suggestions
‘Make in India' as a program will not be a sprint but a marathon. Building a global brand renowned for quality, manufacturing and innovation prowess will take a few decades. However, paying attention to the following points will be important during this journey.
A key area to drive manufacturing in the country is the establishment of a dynamic infrastructure. Capacity and efficiency improvements in infrastructure have to be the focus area for government. As new approaches such as ‘Industry 4.0' become more prevalent, it becomes key to enable not only roads, ports, railways and other projects but to also drive dynamic telecommunications and internet usage in the country.
At the same time, consistent, predictable policy reform that dramatically increases the ease of doing business in India is a must. Transparency of and faith in government policy action has to be strengthened across the board. Regular consultations between government and industry will help drive this process in the right direction. Implementation of GST and other policies that will drive efficiency in India will be crucial.
Government should also encourage the establishment of sustainable businesses both from a domestic view (reduction of negative impact of pollution on citizens) as well as a global view (increased competitiveness of Indian companies abroad). Driving alternative energy as a major source of electricity in the country is needed and government initiatives in this area are highly appreciated.
Innovation needs to be accelerated. Closer collaboration of all stakeholders - government, industry, academia and financing institutions - is necessary such that India can leverage the readily available talent pool to drive development. Activities in this direction are underway, but more needs to be done to avoid losing the race vs key competitors such as China.
Last but not least, we need to foster new talent. Innovative capability of private universities such as Amity University is higher than that of all IITs combined. As a consequence, we need to change backward looking educational policies and content to prepare India's youth for tomorrow's challenges more effectively.
None of these tasks is easy, all are necessary. Above all, the difference between ‘Make in India' and ‘Make Believe in India' will be driven by the consistent and determined execution of plans and ideas. "Make in India' cannot be primarily about marketing concepts but must be about making change happen on the ground.
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