Harting
Harting

Do you want to advertise here? Contact us

LMW
LMW

Do you want to advertise here? Contact us

OEM Update
.

Make in India: A win-win for all stakeholders

By admin July 5, 2016 5:27 pm

To be a truly factory hub for the world, India needs to ease the complicated tax structures.Ameer A Munaff, Managing Director, FEIN Power Tools India
  Foreign direct investment (FDI) into the country has been increased by 37 per cent to US$ 39.32 billion during 2015. Ameer A Munaff, Managing Director, FEIN Power Tools India Pvt Ltd believes that the main reason for the sudden surge in the foreign direct investment that can directly attribute to “Make in India” initiative is it offers a win-win state for all stakeholders.
Impacts of “Make in India”India launched “Make in India” program to create employment opportunities for it’s approximately 60 per cent youth of the total 1.25 billion population who are below 30 years of age. India’s GDP has been growing at about 7 per cent a year over the past one decade. The trade deficit has been growing steadily reaching 5.6 per cent of GDP in the fiscal year ending March 2016. Though the numbers look promising, India mostly exports products that are less trade efficient like rice, cotton, diamonds, garments, etc. meaning most of India’s manufacturing and exports, contribute a small fraction of the global trading commodities. The “Make in India” campaign was designed to push the manufacturing sector from the present 16 per cent of GDP to 25 per cent of GDP. The concept isn’t totally ripe yet to reap the benefits, although there is a sense of optimism that it can trigger manufacturing driven growth.
FEIN being one of the premium power tool manufacturers offering solution to the needs in metal, interior and automotive industries of all sizes, has started seeing the change in terms of the demand. As the industries are growing on a positive note, the demand has risen two-fold this quarter when compared to the last year.
“Make in India” to reduce imports, create jobs “Make in India” focuses on 25 sectors including defence manufacturing, automotive and components, aviation, machinery, etc. where several reforms have been initiated to boost manufacturing. Among these, electronics, defence manufacturing and aviation sectors can substantially reduce India’s major imports and sectors like infrastructure and agriculture are aimed at boosting domestic growth. This boost is expected to create more job opportunities.
Why all eyes are on IndiaThe main reason for the sudden surge in the foreign direct investment that can directly attribute to “Make in India” initiative is it offers a win-win state for all stakeholders. India offers cheap skilled labour to the MNC’s and they in turn offer employment for the Indian citizens. Indian government offers sops and benefits to the companies and given that India is one of the largest consumer markets, the benefits to the companies catering to Indian consumers are very high than in terms of importing. Abundant raw material resources too give a competitive edge in terms of low-cost manufacturing inputs, thereby reducing the overall cost of production.  According to the latest report, Foreign Direct Investment (FDI) into the country has increased around 37 per cent after the launch of “Make in India” programme till February this year.

Advertising

OEM Android App

Your future advertising space? Our media data

Cookie Consent

We use cookies to personalize your experience. By continuing to visit this website you agree to our Terms & Conditions, Privacy Policy and Cookie Policy.

Tags:
Webinar
Webinar

Do you want to advertise here? Contact us

OEM Update QR Code
OEM Update QR Code

Events

World of Photonics India
World of Photonics India
IFFE Expo
IFFE Expo
Clean India Show
Clean India Show
Factory Automation Expo
Factory Automation Expo
India Essen Welding and Cutting Expo
India Essen Welding and Cutting Expo
Logimat India
Logimat India
Metal Forming Expo
Metal Forming Expo

eMagazine October 2024

eMagazine October 2024
eMagazine October 2024

Do you want to advertise here? Contact us

Our Sponsors

DIRAK
DIRAK
Pragati Gears
Pragati Gears
Carl Zeiss India
Carl Zeiss India
STMCNC
STMCNC
Nord
Nord
Messer Cutting
Messer Cutting
Atos Profilo
Atos Profilo
Fronius
Fronius
SCHMALZ
SCHMALZ
Sigma-Weild
Sigma-Weild
Mallcom
Mallcom
igus
igus
DH Secheron Electrodes
DH Secheron Electrodes
Timken India
Timken India
UNP Polyvalves India Pvt Ltd
UNP Polyvalves India Pvt Ltd
ENS Oils & Lubricants
ENS Oils & Lubricants
Super Slides
Super Slides
Autonics
Autonics
Fuel Instruments  Engineers
Fuel Instruments  Engineers
Velvex
Velvex
Universal Orbital
Universal Orbital
Chicago Pneumatic Tools
Chicago Pneumatic Tools
MMC Hardmetal Pvt Ltd
MMC Hardmetal Pvt Ltd
Mennekes
Mennekes
ACD Machines
ACD Machines
TruCut
TruCut
tectyl
tectyl
BKT Tires
BKT Tires
Fibro India
Fibro India
Deceler
Deceler
Balluff
Balluff
Urgo Capital
Urgo Capital
Amsak Cranes
Amsak Cranes
Molygraph
Molygraph
SKS Welding
SKS Welding
pioneer Cranes
pioneer Cranes
Exorint
Exorint
Schmersal India
Schmersal India
Exon mobil
Exon mobil