CHALLENGES AND PROSPECTS

CONTENTS1) Prospects• Job creation

• Infrastructure development

• Skill development

• Foreign investment

• Demographic dividend

• High demand

• Stable economy

2) Challenges• Low level infrastructure

• Labour laws

• Red tags

• Lack of modern technologies

• Corporate tax

• Competitions other nations

• Land laws

MAKE IN INDIA - Initiative

• Prime Minister Narendra Modi launched the Make in India programme on 25 September 2014.

• It focus on job creation in 25 sectors of the economy.

• The initiative hopes to attract capital and technological investment in India.

• The growth in manufacturing sector will be an accelerator for growth and development of the nation.

• The current datas show that India is growing faster than any other developed nation.

The 25 industries comes under make in India

PROSPECTS• As a part of the job creation government will take initiative to the skill enhancement

of the people.

• India has a strong culture that values education and knowledge thus we have a large English speaking smart skilled workforce.

• India have a large number of young blood who are eligible for employment.

• India’s consumer diversity makes it the ideal test bed for all kinds of consumer goods and we have a strong domestic consumption in every possible consumer segment.

• India is the only country in the world which offers the unique combination of democracy, demography, and demand from a rising middle class.

PROSPECTS• Aims at high quality standards and minimising the impact on the environment in

every industrial activities.

• Multi national companies can build their production units in India with relaxation in procedures.

• The present situation in the Indian politics and economy is comparatively stable.

• 25 industrial sectors are open for foreign investment.

CHALLENGES• India being ranked low on the ‘ease of doing business’ ranking by World Bank

• Increase in costs of production in India due to various government policies, procedures, regulations and the way some of the laws are implemented.

• With demand in developed nations slowing, there simply may not be enough customers for Indian-made goods, no matter how cheap.

• Markets for four critical inputs for manufacturing, or indeed any business - land, labour, power and capital are badly distorted.

CHALLENGES

• LOW LEVEL INFRASTRUCTURE

• India is growing nation but we doesn’t have a strong infrastructure for industrial development.

• India will have to face the competition from China and other nations who promote industrial growth .

• LACK OF MODERN TECHNOLOGIES• We are lacking to adopt the modern technologies due to capital deficiency.

CHALLENGES• LABOUR LAWS

• Rigid labour laws

• Policies does not allow hire and fire labour policy

• We need high quality jobs

• LAND LAWS

• Acquisition costly as well as tedious.

• A land acquisition policy which would make acquisition much easier along with an attractive compensation package.

• CORPORATE TAX

• Corporate tax in India is 33%, which is comparatively higher than other nations.

CHALLENGES• RED TAGS

• The producer or the investor have to go many offices for the sanction of their project.

What do we really want ?

Sustainability - Short, Medium & Long Term

Principle of Co-Existence with Nature

Innovations and Creativity

Gainful Productive Employment

Dignity of Labour & Equality

Self Reliance, Sovereignty & Leadership

Export Surplus Nation

THANK YOU

PRESENTED BY GEORGI MATHEW VARUGHESE AND JACOB ZACHARIAHST. THOMAS COLLEGE, KOZHENCHERRTY, PATHNAMTHITTA