Economics • Indian EconomyEasy
What does 'Make in India' initiative primarily seek to achieve for the manufacturing sector?
A. Transforming India into a global manufacturing hub by encouraging domestic and foreign companies to manufacture within the country.✓ Correct Answer
B. Restricting all foreign direct investments to protect indigenous cottage industries exclusively.
C. Nationalizing core manufacturing units to ensure state control over heavy engineering.
D. Providing free raw materials to all registered export houses.
💡 Solution & Explanation
Launched in September 2014, the Make in India initiative aims to transform the nation into a global manufacturing hub by encouraging both domestic and multinational corporations to produce goods within the country. It focuses on job creation and skill enhancement across twenty-five key sectors rather than nationalizing core industries or restricting foreign direct investment. Alternative choices suggesting nationalization or raw material monopolies contradict the policy framework of economic liberalization. The initiative is a cornerstone for boosting the share of manufacturing in the gross domestic product.
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