Make in India campaign was launched in New Delhi by the Prime Minister Sh. Narendra Modi on 25th of September in 2014. It is an initiative to make a call across the world (national or international) to invest in India. Big opportunity to all the investors to set up their business (manufacturing, textiles, automobiles, production, retail, chemicals, IT, pharmaceuticals hospitality, railways, leather etc).
“ZERO DEFECT ZERO EFFECT”
This slogan was coined by P.M. of India – Narendra Modi, as essence of the “Make In India”.
ENGINEERING IMPORTANT ROLE
The Indian engineering sector has witnessed a remarkable growth over the last few years driven by increased investments in industrial & infrastructure. The engineering sectors, being closely associated with the manufacturing & infrastructure sectors of the economy, is of strategic importance to India’s economy. Growth in the sector is driven by various sub-sector such as infrastructure, power, steel, automotive, oil & gas.
The engineering sector in India attracts immense interest from foreign players as it enjoys a comparative advantage in terms of manufacturing costs, technology & innovation.
Automotive – India is expected to become a major automobile manufacturing hub & the third largest market for automobiles by 2020. India is currently the seventh largest automobile producer in the world with an average annual production of 17.5 million vehicles.
Textiles – Currently estimated at around US $ 108 billion is expected to reach US $ 141 billion by 2021.
Electronics – It have the largest in the world to reach US $ 400 billion in 2022.
The key success factors for manufacturing industries are efficiency & productivity. Engineering plays a central role in this especially as it relates to complex machinery & plants across various manufacturing facilities. That’s why a high level of efficiency is a must at the engineering stage itself in order to make production faster, more flexible and more intelligent.
Requirement For Engineering Field
- 1. Skills
- 2. Relax import restrictions
- 3. Develop infrastructure
- 4. Spur innovation
- 5. Create knowledge clusters
- 6. Avoid focusing on short – term economic benefits