The Big Manufacturing Push!
Analysing the impact of the 'Make in India' campaign on the apparel sector
India has arrived on the international stage. The global economy’s perception towards the country has changed dramatically over the last 30 years, and rather drastically in the last five. In the 90s, when Rajiv Gandhi unleashed the Liberalisation, Privatisation and Globalisation policies under the guidance of the then Finance Minister and former Indian Prime Minister, Manmohan Singh, it was evident that the country was looking at some serious FDI. In the last five years, the perception changed further as more and more Indians appeared on the boards of successful startups, artists got global recognition, the small and medium sized service sector began to meet global standards and, more importantly, expectations. In spite of such an ascent to the world stage, the country continues to languish when it comes to the most important prerequisite for a healthy economy, a strong manufacturing sector.
Today, the transformation has begun in full throttle. The new government brings hopes of a manufacturing revival with a rather brave campaign that advocates consumption of products made in India. At the heart of this campaign lies an assurance that this is perhaps the best time to invest and manufacture in the country. The ‘Make in India’ campaign, is therefore, one of the most ambitious yet logical strategies that aims and promises to boost manufacturing in the country. It is clear that the thrust will be on the small and