Make in India—a big boost to Indian industry and employment.

Imports and exports are inseparable parts of a country's trade. Almost every country imports and exports goods and services to some extent to make efficient use of its resources. Indian industry, like every country, imports goods and services in order to keep development on track. India imports those goods or services that are not available or are available in very little quantity to fulfil the demand of the population in the country. Also, it exports those goods or services that are available in large quantities to other countries. This is how our trade with other countries continues.But the COVID-19 pandemic was an eye-opener for every country’s government. At the time of pandemic, there was a complete ban on transportation almost all over the world. On the one hand, the goods that our country imported from others were scarce, and they were flying off the shelves. while on the other, the import of these goods from other countries was restricted. It became very difficult for countries to fulfil the demands of the general public and control the panic situation. Country were in strong need of producing goods in their own places in order to ameliorate the effects of the pandemic.

So, the Indian government came up with a vision to produce goods in its own country for a speedy recovery of the economy. It was named the "Make in India’ initiative. Under which our country will focus on those goods or services in 25 sectors that can be produced or manufactured in our own country. It is based on four pillars, which are as follows:

• New Mindset
• New Sectors
• New infrastructure
• New processes
  

It means the country will focus on new ideas in new sectors in which it is lagging behind and build a new infrastructure with new processes. The sectors on which this initiative is going to focus include defence manufacturing, information technology, food processing, automobiles and automobile components, health, aviation, biotechnology, chemicals, construction, electrical machinery, electronic systems, mining, oil and gas, pharmaceuticals, and some other sectors . Our prime minister was of the view that India should be a global manufacturing hub. However, some countries criticised our vision and were of the view that India should focus on ‘Make for India’ instead of Make in India," as our country lacked technology and investors would not invest their money in such a country where there were chances of more losses. But India proved them wrong and achieved new heights in the field of technology. And now, almost all countries are interested in investing their money in Indian start-ups. This has been a remarkable achievement for India.

But our government remained committed to its point and launched various schemes and subsidies that encouraged many Indian industries to produce goods. The government also reduced duty fees on exports, which has increased the volume of exports. Many reforms have been introduced to encourage Indian companies to manufacture their own products instead of importing them from foreign countries. Micro, small, and medium enterprises (MSMEs) and start-ups was the area of special focus. And as a result of the government’s efforts, India has become the fastest-recovering economy in the world. While other countries are still struggling to overcome the impacts of the pandemic, India has recovered from this phase in just two years.

India has exported more than one billion vaccines to 120 countries under an initiative called "Vaccine Maitri." India was one of the first countries to manufacture the COVID-19 vaccine. In addition to manufacturing medicines, Personal Protective Equipment (PPE) kits have been exported and distributed to many needy countries as a humanitarian gesture.

Moreover, it is also manufacturing 95% of defence products indigenously, which were earlier imported from countries like Russia, France, and the UK. It includes artillery guns, rifles, armoured vehicles, fighter jets, vessels, and missiles. Private companies are also encouraged to participate in making India a manufacturing hub. Some are exporting defence products, and some are exporting defence services. Recently, India made a tenfold increase in defence exports, reaching Rs. 15,920 crore in the financial year 2022–23. According to some experts, it is going to reach Rs 25,000 crore next year. The Make in India initiative is not confined to the defence or medical sectors only; it is expanding its reach to almost all sectors of development.

Students and engineers are also encouraged to develop satellites and conduct research and development. Azadi-SAT is the perfect example of it, which is prepared by students from 75 high schools. Goods or services that were earlier imported from other countries are now exported by Indian companies across the world.

Thus, we can say that this initiative had a positive impact on Indian economy, and the country is now becoming Atma-nirbhar (self-reliant). It has given a big boost to the economy. If it continues to develop at this rate, India will soon become a manufacturing hub in the world.