Objectives of National Manufacturing Policy

1. Increase Manufacturing GDP:

• Objective: The National Manufacturing Policy aims to increase the manufacturing sector’s contribution to GDP to 25% by 2025. As of 2024, manufacturing contributes around 17% to India’s GDP.

2. Employment Generation:

• Objective: Generate employment opportunities, particularly for the youth. The policy seeks to create 100 million jobs by 2025.

3. Global Competitiveness:

• Objective: Enhance the global competitiveness of Indian manufacturing through innovation, technology, and quality improvements. The policy emphasizes developing world-class infrastructure and technology.

4. Sustainable Development:

• Objective: Promote sustainable development in manufacturing practices to minimize environmental impact. Efforts include promoting green technologies and energy-efficient processes.

Critical Examination of ‘Make in India’ and ‘Start-Up India’

1. Make in India:

• Objectives: Launched in 2014, the initiative aims to boost domestic manufacturing, attract foreign investment, and create job opportunities. Notable successes include increased FDI inflows and growth in sectors like electronics and automobiles.
• Critique: Challenges include bureaucratic hurdles, inconsistent policy implementation, and infrastructure issues. Recent reports have highlighted delays in project approvals and land acquisition problems.

2. Start-Up India:

• Objectives: Launched in 2016, this initiative seeks to foster innovation, provide funding, and create a supportive ecosystem for startups. Key achievements include the establishment of a Fund of Funds for Startups (FFS) and the simplification of regulatory processes.
• Critique: While there has been growth in the startup ecosystem, challenges remain in access to finance, market entry barriers, and scaling up. Recent data shows that while many startups have emerged, a significant number face difficulties in scaling and sustaining their operations.

Conclusion: Both initiatives aim to enhance India’s manufacturing and entrepreneurial ecosystem. However, their success depends on addressing existing challenges and ensuring effective implementation and support.