Drawing on the combined power, foresight, and expertise of politicians, entrepreneurs, investors, and industry leaders, the Make in India movement hopes to turn the largest democracy in the world into a manufacturing and design hub, sparking new growth and international investment and inspiring confidence in India’s capabilities.
At the beginning of the 21st century, India showed great promise as an emerging market, but by 2013, its growth rate had fallen to the lowest in a decade. Recognizing that part of the problem was government bottlenecks, Prime Minister Nerendra Modi set out to overhaul government policies and procedures to allow businesses more room to thrive. The ultimate goal was a mindset of “minimum government, maximum governance.”
The resulting movement, Make in India, brought together public officials and industry leaders from all over to create a massive action plan whose ultimate purposes are to raise the contribution of India’s manufacturing sector to 25% of the GDP by 2020 and to spur dramatically higher levels of direct foreign investment in railways, defense, insurance, and medical devices. To make these goals a reality, outdated, obstructive organizational structures are being dismantled and replaced with more transparent systems designed to drive investments, foster innovation, develop skills, protect intellectual property, and build a more effective manufacturing infrastructure.
To further this aim, the Department of Industrial Policy and Promotion (DIPP) collaborated with specialized agencies to establish a number of resources for businesses and interested investors, including a dedicated help desk, a mobile-first website, and more than two dozen sector brochures that outline government and industry policies and initiatives, key facts and figures, and sector-specific contact information. These resources will empower India’s entrepreneurs to guide their businesses to greater heights than were plausible only a decade ago.
With this new outlook, an invigorated industry, and lasting public-private partnerships, Make in India may prove to be the first great stride toward a new India. As manufacturing and design industries grow, so will national and local economies, and so will India’s standing in the global economy. Thanks to this transformation, new investments both foreign and domestic can transform India into a new hub of commerce and innovation.
Extrude Hone is proud to play a part in the Make in India movement. As the creators of some of the leading technology for high-quality part machining and finishing, we look forward to continued participation in India’s automotive, aviation, biotechnology, and energy industries, helping our customers grow their businesses not only in size and revenue but in quality as well.
In addition, Extrude Hone recently supported an international German based company located in India demonstrating the ECM (Electrochemical Machining) benefits in our Bangalore Technical Center. Our engineers locally designed the fixture and conducted testing as a preliminary step toward the mass production application. The production tooling will also be designed and built locally.
At Extrude Hone, we stand ready to help the dream of Make in India become a reality.