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Make in India a manufacturing hub: the real opportunities and challenges: A literature Review

Author: 
Selvam, V.
Subject Area: 
Social Sciences and Humanities
Abstract: 

India has an opportunity to become one of the world’s most dynamic economics. Keeping this in mind, our Honourable Prime Minister Sri Narendra Modi was initiated and launched ‘Make in India’ a manufacturing hub campaign on 25th September, 2014 by inviting and motivating all global and domestic companies to manufacture their products in 25 identified industrial sectors in India. The aim of this initiative is to take the share of manufacturing in the country’s Gross Domestic Product (GDP) from a stagnant 16% currently to 25% by 2022 and thereby create more than 100 million skilled jobs in manufacturing sector. The present central government wants to improve the standard of living of socially and economically weaker section and wants to remove the poverty through various new schemes and programmes like Jan Dhan Yojan, Jan Suraksha Schemes-Ensuring Social Security among poor who earn less than $1 per day, Micro Units Development Refinance Agency (MUDRA), Swachh Bharat, Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Digital India, Skill India, Sukanya Samriddhi Scheme and Smart Cities Mission (SCM) Housing for all by 2020 through which people may have real shift from being economically poor into middle class and this will lead to a good business opportunities in India. Based on the above, the existing literature survey from journals, magazines, newspapers and websites highlights on make in India a manufacturing hub and also this paper reviewed the real opportunities and challenges for India. Prior studies have not been successful in addressing the opportunities and challenges and in this paper the researchers presented an overview of the literature which explains make in India and the real opportunities and challenges. This review based study really highlights and helps the young and new researcher who wants to do research under make in India a manufacturing hub and also help them easily to identify the real challenges and opportunities for both men and women entrepreneurs who wish to start business in India.

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