Strategic Importance of ‘Make in India’ Campaign to Empower Indian Economy
Imperial Journal of Interdisciplinary Research (IJIR), Vol. 3, Issue 3, 2017
5 Pages Posted: 26 Mar 2017
Date Written: March 22, 2017
The term “Make in India” was recently publicized in India. It is another name of foreign direct investment with special focus on capital formation sector. The “Make in India” Strategy is launched to attract foreign investors to invest almost in all sectors in India to encourage International Economic Integration. International Economic Integration plays an important role in Economic Development of any country. Foreign Direct Investment is one and only major instrument of attracting International Economic Integration in any economy. It serves as a link between investment and saving. Many developing countries like India are facing the deficit of savings. This deficit can be circumvented with the help of Foreign Direct Investment. Foreign investment helps in reducing the defect of BOP. FDI comes handy in the long-term development of a country not only as a source of capital but also for enhancing competitiveness of the domestic economy through transfer of technology, developing infrastructure, increasing productivity and opening up new employment opportunities. In India, FDI is considered as a developmental tool, which helps in achieving self-reliance in various sectors and in overall development of the economy. After Make in India campaign there is fair increase in the flow of foreign direct investment. This research paper analyzes success of “Make in India” strategy to attract more FDI and its role in empowering the Indian economy.
Keywords: Make in India, Foreign Direct Investment, Foreign indirect investment, Internal Personal Disparity, Portfolio Investment Policy, Balance of Payment
JEL Classification: F38, F63, F30, M1, M16
Suggested Citation: Suggested Citation