PROF. AMAN AGARWAL
PROF. AMAN AGARWAL
VICE-CHAIRMAN, INDIAN INSTITUTE OF FINANCE, DELHI
The move of the government in re-defining “Made in India” to”Make in India”and “FDI (Foreign Direct Investment)” to “FDI – First Develop India” has being received very positively by the domestic and international markets. The Feel Good factor with the incoming of BJPled government having a sweeping victory under the leadership of Shri Narendra Modi has changed the mood swings within India and globally. Today economies worldwide are looking at interlocking their growth factor with India, in the spin to march ahead together. The incoming of the current government had evoked a large number of negative impression from the international community and the opposition of India expected to roll back the economic reform process and having a closed economic system following the “Swadeshi” movements and views of the BJP and RSS leadership view. The re-definition of “Make in India” and “First Develop India (FDI)” has brought in positive outlook for both domestic market having a favourable outlook to overseas investors bring in Investment to Make products/ services in India and provide development, employment and growth opportunities for both India(n) and their respective countries.
This has also boasted confidence in the Indian Industry (manufacturing, soft skill / services and agriculture based) to invest and generate more for both domestic and international markets promoting “Make in India” Brand despite being patriotic by developing India First with the India Brand. The India brand in Education and Technical Man power provider today is well established worldwide.
India stands for over 50 years today to be the largest technical man-power provider to theworld and the 2nd largest technicalman-power producer in theworld. India is also well recognized and respected forVedic Mathematics (Science), Ayurvedic Sciences, Yoga and Modern Since with the launch ofMOM(Mars OrbitMission), Nirbhay Missile, Nuclear Energy, INSAT Satallites and Chanakya’sArthashatra “1st ever written text inEconomics”.
In my opinion the government with this move would be able to meet the numerous challenges-cum-opportunities laying before the Indian Economy given the weak Indian Rupee like (a) threat to India’s National Security & Indian’s tomorrow as an outfall of the Rupee Deprecation ; (b) challenges before the Trade Participants & Business in India ; (c) appropriate mix of Financial Volatility, stable Exchange Rate and the robust Monetary Policy ; (d) concerns of Fiscal Discipline & the Role of the Government ; (e) rising Inflation & the cost toMasses ; (f) Impact of the US Fed and the European ECB policies towards trade and investment in India; (g) Anti-Terrorism / Money Laundering efforts ; (h) Inducing growth through Space Research, Technological innovation & Telecommunication buffers. The current visit of PM Modi to US, Japan, China, Nepal and other emerging markets would foster on converting the above listed challenges into opportunities for a bright future of Indians and the Senior CitizensDignity.