Published On: Mon, May 4th, 2015

MOHAMED A ABDOU

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MOHAMED A ABDOU

FORMER PRESS COUNELLOR OF EGYPT EMBASSY
IN INDIA & NIGERIA

The ‘Make in India’ initiative recently launched by PM Modi will have a significant impact on both Indian & world economy. The African & Asian world will be benefiting & collaborating with India to make this drive a success. The initiative reflects a new mindset of growth in India as it will drive India’s stagnant growth in a new way. This ambitious project will make India a manufacturing hub; help achieve high growth and creation of jobs. In my opinion, this initiative will help India emerge as a regional leader for the cost effective & competitive exports to the developing countries. It comes at a time when India needs to grow faster to increase per capita income and create jobs for over 10 million people, who join the workforce every year. To create jobs, the country needs tomove away from the services driven growth model to labour intensive manufacturing driven growth. India’s success story proves to be a major turning point in the lives of 1.2 billion people and would have very significant ramifications for the world economy. India is really equipped to take on the role of being a manufacturing hub. However to accomplish its intended goal
of 10 per cent manufacturing growth per year, the Indian government will have to move quickly to address some long entrenched
issues such as Ease of doing business, encourage funding huge investments, provide for adequate transportation infrastructure ,promote urban growth , amend and reform some labor laws.

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