Made in India

What exactly "Make in India" means ? Is it same like "Made in India"?

Sep 29, 2021

‘Make in India’ and ‘Made in India’ both have become a hot topic of debate with a lot of perplexity surrounding them. Most people think of them as the same approach but they are two different Indian programs. Detail discussion could help in getting a good hold of both the concept introduced by the government. Make in India: It is an important national program launched by the Government of India (Modi government) in September 2014. The program was launched as an indispensable response to the stagnating condition of the country’s economy and was intended to enhance skill development, aid investment, foster innovation, and initiate manufacturing infrastructure in the country. It was started with the aim of maximizing the employment ratio, redirecting foreign investment in India which will help in the overall economic growth of the country. According to the Prime Minister of India, this program invites people from all over the globe to come manufacture in India and providing employment opportunities to the youth of the country and go sell in any part of the world. Make in India is seen as a major reformation program by the government of India which can help improve India’s rank on the Ease of Doing Business index. It focuses on 25 sectors including manufacturing, construction, defense, IT & BPM, biotechnology, food processing, pharmaceuticals, tourism, railways, media and entertainment, and so on. Made in India: It is a phrase commonly seen on the tags of the product which customers buy. It indicates that the product is manufactured in India and gives the foreign consumer a means to identify the product’s origin. A product is tagged as ‘Made in India’ when all factors of production- land, capital, labor, technology, and entrepreneurship are of India. This point to that promoting Made in India would lead to utilization of country’s natural talent and resources as well as would help in generating employment opportunities for Indian multitude. If ‘Made in India’ is promoted properly, it would surely recognize the Indian Homegrown products and brands. It provides the domestic players a platform to compete with global products and increase the standard of their products. Major differences 1. Made in India indicates the labeling of the products manufactured in India and promoting an identity in Indian along with foreign markets. Whereas, ‘Make in India’ is a strategy of the Government to overcome the issue of stagnation in the country’s economy. 2. Profit earn in both the initiatives will consist of different components, for example, profit made under Make in India will consist of foreign investors whereas, profit earned from Made in India retains within the Indian economy. 3. On one hand, Made in India focuses more on domestic factors such as land, labor, resources, so on. On the other hand, Make in India is more about attracting foreign investment and generating employment opportunities. Nevertheless, both the initiatives seem to contribute to the Indian economy in different ways. Make in India boost foreign investments and Made in India helps the country being self-reliant concerning the manufacturing of products.