Prime Minister Narendra Modi’s pitch that “FDI should be understood as ‘First Develop India’ along with ‘Foreign Direct Investment’” is the right move to not only attract foreign investors but also spur domestic players into investing in industry (Sept. 26). There is no dearth of manpower in India; many are unemployed while countless others face starvation and make do with inadequate medical care. As Mr. Modi is initiating a number of proactive and progressive steps, and is sincere and clear about what he expects, his dream should be realised. His repeated promise of laying out the “red carpet” instead of “red tape” will definitely instil optimism and boost investor confidence.
S. Narayanan,
Chennai
India skipped the Industrial Revolution and jumped from being an agrarian to a services economy. The “Make in India” campaign, though belated, will help fix this anomaly. Boosting manufacturing in India will have a domino effect. Economically it will help us earn more foreign exchange, narrow the current account deficit and ensure long-term GDP growth. Socially, it will create more employment opportunities, help harvest our rich demographic dividend, reduce income disparity and accelerate the process of alleviation of poverty. It will help usher in necessary overseas technology and boost research and development.
Apart from the economic, social and technological benefits of having a manufacturing revolution in India, it might also help improve the security scenario and reduce regional disparities to a significant extent. Youth power should also be tapped on a large scale and in the right manner.
Rajshekhar,
Bangalore
“Jai Jawan, Jai Kisan” fired the imagination of the nation, while “Garibi Hatao” promised new horizons for the poor. Now, “Make in India — First Develop India along with Foreign Direct Investment” should inspire the entire corporate world and decision-makers.
C.V. Venugopalan,
Palakkad
Given the small size of the manufacturing sector to GDP as well as the failure of the Special Economic Zones (SEZ), there is definitely the need for an impetus. However, the Prime Minister appears to have overlooked the crucial issue of labour reforms. There is a need for overhaul here as most laws are either of pre-Independence-era vintage or those enacted just after Independence.
Contract and part-time workers must be factored in. Further, there should be a flexible exit policy for loss-making companies and all disputes with regard to trade unions, wages and working conditions should be addressed through consensus. Only when these measures are addressed along with institutional, technical and financial support, can we expect a manufacturing turnaround.
Sahil Garg,
Sirsa, Haryana
Even after globalisation and industrial reforms, India has not been very successful in emerging as a leader in the manufacturing sector despite its many relative advantages. The rapid growth of the manufacturing sector must be in sync with the needs of a growing, skilled and young labour market. But ensuring easy availability of land, uninterrupted power supply, road connectivity and a balanced tax structure are obstacles that may not be easy to clear.
N. Sadhasiva Reddy,
Bangalore
