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EssaybyUPSCTopperRituRaj(CSE2014Rank69):HowcanthenewgovernmentmakeIndiaaglobalmanufacturinghub?xaam.in

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EssaybyUPSCTopperRituRaj(CSE2014Rank69):Howcan
thenewgovernmentmakeIndiaaglobalmanufacturinghub?
RituRajmadeintoIndianAdministrativeService(IAS)thisyearwithAllIndiaRank69inUPSCCivilServices
Exam.

Essaytopic:HowcanthenewgovernmentmakeIndiaaglobalmanufacturing
hub?
Introduction:
ThefirstPMofIndiahadreferredtheIndustriesof
Indiaastemplesofmoderndemocracyandit
canhardlyberefutedtoday.Theindustriesof
Indiawereoneofthemajorentitiestoprotectthe
democracyofIndia,tocheckthegrowthofNeo
Imperialismthatpervadedthroughthecoldwar
andtherebyhelpedsustaintheeconomyandcivil
libertariandemocracywhichwasleftdevastated
andexploitedatthedawnofindependence.
Thenatureofgrowthofindustrieshasseen
transformationwiththechangingglobalscenario
anddomesticconditionstraversingfroma
centralisedeconomytonowaneoliberalfree
tradeeconomy.
Today,Indiaboastsof3rdrankinworldinGDPin
PPPtermsevenaheadofJapan,aheavily
industrialisednationandindeedtheaccolades
hastobegiventotheeconomicgrowthand
developmentbroughtthroughourindustries
whichotherwisewouldnothavebeenpossible.
However,therestandsinfrontofusourdreams
adreamtomakeIndiaaprosperousandvibrant
country.Adreamtoreducethegrossinequality
thatexiststodayanddisempowermentthatexiststodaytraversingregion,gender&economy.Adreamto
bringsustainableandinclusivegrowthandadreamtomakeIndiaaglobalsuperpowerandfeelproudofour
nation.
Thisdreamforcesustointrospectthepastfailuresandreinvigorateouractionsandpoliciesthatnotonly
makeIndiaaGLOBALMANUFACTURINGHUBbutalsoaNationofOurdreamsasenvisagedinthe
Preambleofourconstitution.
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EssaybyUPSCTopperRituRaj(CSE2014Rank69):HowcanthenewgovernmentmakeIndiaaglobalmanufacturinghub?xaam.in

Inthisessay,weshallseeabriefevolutionofthegrowthofindustriesinIndiaandthepresentscenario.We
shallthengothroughthevariousproblemsthathinderthegrowthofIndiaasamanufacturingnation.We
shallanalysehowcertainpolicymeasureshaveaffectedtherightpolicyclimateandconfidenceofthe
privatesectorwhichhascurtailedinvestmentsfrombothforeignanddomesticavenues.Weshallthen
suggestreformsandstepsthatneedstobebroughtintobringtherightpolicyclimatewhichisstable,
predictable,enablingandirreversibleandnotonlyboostsinvestmentsinIndiabutmakeIndiaafavourable
businessventurewhilealsokeepinginlightofthefactthatIndiaisstilladevelopingnationandtheinterests
oftheNationhasstilltobeprotectedineraofglobalisationandfreemarketeconomy.

EvolutionofIndustriesinIndia
19001950:
TheIndigenousIndustrialgrowthinIndiawasincontestationwiththeBritishongoingFinancialCapitalism.
Thusthegrowthwashighlyresourcestarved,withlackofIndianheavyindustriesanddependencyon
foreignimports.ItcheckedthegrowthofIndianancillaryindustriesbringinghugeunemploymentand
regionalimbalance.
ThebackwardnessanddependencyofIndianprivateindustrieswaspreciselythereasonwheninthe
BOMBAYPLAN1946,theindustrialclassacceptedaStateControlledmixedeconomyoverprivateledin
ordertoboostrapidindustrialisationandalsotopreemptsocialismbycombiningequitywithgrowth.
19501990:
TheIndustrialPolicyof1956hadhighlightedtheneedforamixedeconomyandtheneedforheavy
industries.TheNehruMahalanobismodelofgrowthboostedthegrowthofheavyenterprisesinIndiaand
Indiawitnessedthegrowthofsteelplants,hugedams,manufacturingunitsautomobiles,ports,airports
etc.whichwasslowlybutsteadilytransformingIndia.
HowevertheprolongedcontinuationofImportsubstitutionIndustrialisationmodel,thegrowing
ICOR(incrementalcapitaloutputratio)ofindustriesinmid1980sandthefailuretomakeatimelyshifttoa
liberalisedeconomywhichwasrightlytappedbythesoutheastAsiannations,culminatedintheeconomic
crisisof1991andforcedinstitutionalchangesintheeconomythatbroughtinliberalisation,privatisationand
globalisationoftheIndianeconomy.
ThePresent:
Thesituationoftheeconomyasitexiststodayisthatitstandsonsolidgroundswithlotsofpositivestosurge
ahead.

POSITIVES:
IndiatodayiscalledastheBackOfficeoftheworldwithourITsectordominatingtheworld.Thereishuge
skilledLabourresourceandboomingmarketfortheworldwiththegrowingcapacityofthepeoplebroughtin
throughvariousenablingsociallegislationsandthegrowthanddevelopment.
TheproximitytobothAfricaandsoutheastAsiaandstrategiclocationofIndiaintheIndianOceanoffers
greatbusinessopportunityforthebusinesscommunityoftheworld.Thegrowingpartnershipsand
FTAs(freetradeagreements)withASEAN,SAARCprovidesaddedopportunitywiththeIndiasgrowing
interestinRegionalComprehensiveEconomicPartnership(RCEP)agroupingledbytheAssociationof
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SouthEastAsianNations(ASEAN)andisexpectedtopitchinwith$644billion.
Therearemorethan13majorportsand200smallportsthatcanbeeffectivelyusedastransshipmenthub.
Thegovernmenttodayismuchbetterpreparedandmotivatedtoboostinvestmentsinthecountryanditcan
beascertainedbythevigourthatthegovernmenthasdisplayedinthecurrentbudget2014thataimsat
resolvingtaxdisputes,andbringingastablepolicyclimatefortheindustry.
TheForexReserveismorethan$300billion,theaveragegrowthinthe11thFYPwas7.9%evenafter
facingtwoeconomiccrisis.TheCAD(currentaccountdeficit)wasaslowas1.7%ofGDPwhileFDhas
substantiallyreducedtoaround4.1%.
Theinflationasiswitnessedcurrentlyisbelow5.9ofCPIwhichishistoriclow.Thegrowinginfrastructurelike
roads,electricity,transport,shipmentetchavejusttransformedtheeconomywhichishugeascomparedto
Indiaevenof1990s.
Thesefactorscoupledwithhugedemographicdividend,hugeavailabilityofrawmaterialsarethe
prerequisiteandessentialconditionsforanycountrytobeamanufacturinghubandisreadilyavailablein
India.

NEGATIVES:
HowevertherearelotsofdrawbacksthathavehinderedtheactualrealisationofthepotentialthatIndiais
capableof.Thiscanbeenumeratedbythefactthatdespitesubstantiveliberalisationsincelast6months
theeconomyhasnotreallycaughtup.
TheEconomicSurveyReportshows:
SubstantialreductioninFII(financialinstitutionalinvestors)inIndiain2013.($26,981millionto$4,822
million)
TheeaseofBusinessdoinginIndiais134/189countriesinworldin2014.
Thestatisticsofthelastyearshowsnegativegrowthforminingsector(1.4%)andmanufacturing
(0.7%)in2013.
GDPshareofmanufacturingisstill15%.
TheInflationwasashighas9%untilrecently.
Thisstatisticsdonotaugurwelltodriveinvestmentsandtherebyboostmanufacturing.Italsobringsforth
thepicturethatthereisnoonefactorinhibitinggrowthandinvestmentandthesituationrequiresamore
detailedindepthunderstanding.
Letstrytoanalysethesameonebyoneandrecommendforchanges.

ISSUES/BOTTLENECKSINGROWTHANDMANUFACTURING
InstitutionalDrawbacks
BureaucraticREDTAPISM.
Overregulationanddelaysinproceduralclearancesofprojects(ex.POSCOsteelplantgotits
environmentalclearanceafter8yearstostartconstructioninOdisha).
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NosinglewindowclearancesforprojectstheNeGP(nationalegovernanceplanisyettocatchupin
alldepartments).
VariousarchaiclegislationslikeLABOURLAWS[Industrialdisputesact,1947contract
labour(regulationandabolition)Act,1970tradeUnionsAct,1929)whichhassubstantialrepercussion
ontheefficiencyofenterprises(onlyrecentlylawsarebeingpassedinRajasthanafterreformin
labourlaws)
LandacquisitionisstilldemotivatingevenaftertheLARRA,2013(landacquisitionresettlementand
rehabilitationact)makingthelandevenmorecostlierthanbefore.
TheFDIinIndiaisstillregulatedinvarioussectorsandcomeswithextremesafeguards.TheFDIin
MBRisclassicexamplewhereIndiahardlyreceivedanyinvestmentdespitemakingit51%.
TherehasbeenincreasingdemandforfullconvertibilityofrupeewhichcallsformoreFDIandbetter
rates.
Thereisincreasingnumberofregulatorybodiesandcontrolfromplethoraoforganisationaddingto
theconfusionandwoesofinvestors.(SEBI,PFRDA,IRDAallworkinfinancialsectorswith
interspersedjurisdiction).
TheissueofRBItocontaininflationaswellasmaintaingrowthandinvestmentisfacingcriticismfrom
allsectorswithdemandforaseparateDMO(debtmanagementoffice).
TheretrospectiveamendmentoftheIncomeTaxlaw,1961intheVodafonecasehasbeenoneprime
concernofbusinessclassandforeigninvestmentseekingforastableandclearpolicyguidelines
(whichareyettobedetailedinelaborationsincethebudgetspeechofFM).
Lackofclearpolicyguidelineswithambiguityinvarioussectors.
Thereisalackofinstitutionalisedmechanismofeffectiveparticipationforpolicymakingwhich
includestheprivatesectoraswellasthecivilsociety(itmustbenotedthatUSAhasinstitutionalised
lobbyingtoprovidefairplaytoallconcerned).
InfrastructuralBottlenecks
UnavailabilityofRoadsespeciallyinruralareasarehinderingpenetrationofindustrytoruralsector.
PoweristhemajorconcerninIndia.
TheJapanesedelegationtoIndiaaweekagohighlightedtheneedforpowerandinfrastructuretomotivate
Japaneseinvestmentofcommitted$35billioninindia.Itbringsoutthegrimrealityhowinvestmentsare
curtailed.
Thesoftwarecompanies(Infosys)havestartedtheirownsolarprojectstomeettheirpowerneeds,whichis
notpossibleforsmallstartups.
Theneedforacheapmeansoftransportandswiftertravelislongfelt.
TheNationalwaterwaysareyettobedevelopedwithonlyrecentlysomeactioncanbeperceived.
Howeverthelonggestationperiodinvolvedinsuchprojectsishardlymotivating.
NUCLEARLIABILITYLAW,2011ofIndiahasbeenwelldetestedbytheforeignmarketanddespiteof
thewaivergrantedfornucleartrade,theprojectsrelatedtonuclearpowerplantshavenotpickedup.
Thegaspricingpolicythoughaddressesbutisyettoyieldresult.
EconomicBottlenecks
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Theinvestmentsandbudgetallocationshavenotgrowninaccordancewiththedemandforvarious
sectorsesp.MSME(medium,smallandmicroenterprises)whichthoughisaccountablefor60%of
theindustrialoutput.
Planv/sNonPlanexpenditureclassificationhasreducedfocusonmaintenanceofinfrastructureand
facilities.(TheformerChiefEconomicAdvisor,Rangarajanhastermedittobethefactorresponsible
forhospitalswithoutdoctorsandschoolswithoutteacherstherebyaffectingfacilitiesandservices
affectingthehumangrowthandcapacity.)
Theexpenditureisincreasinglytiltedtowardssubsidieswhichisreducingthecapacityofthe
government.
FiscalconsolidationandfiscalprudencenotwelladheredtowiththeFRBMactbeingtweaked
wheneverfeltnecessary.
ThereisalsothegrowingchallengefromtheFEDTAPERINGoftheUSAwhichisgoingtohave
substantialimpactsonIndia.
Internationalbottlenecks:
ThegrowingpressureindifferentforumstoopenupthemarketandfreetradeasperWTOruleswith
aneedstillfelttoprotecttheindigenoussectors.
ThegrowingprowessofChinesemarketsandproductsandtheacceptanceoftheFreeTradeAreaof
theAsiaPacific(FTAAP)intheongoingAPEC(Asiapacificeconomiccooperation)doesnotaugur
wellforIndianproducts.
USAdemandtoincludeHFC(hydroflurocarbon)intheMontrealprotocolneedtobecheckedaslots
ofourindustryisdependentonthatproduct.
Environmentalbottlenecks&Others:
TherecentSCverdicttobanmininginGoahasledtothereductioninexportsofironore
TheincreasingprotestsagainstprotestsbyNGOsomeevenvestedones(IBreportonGREEN
PEACEactingagainstthedevelopmentalinterestsofIndia)callsforaeffectiveregulationofsuch
vestedinterests.
ThegrowingconsensusoncleanenergyandreductiontargetsaccordingtotheKYOTOprotocoland
IndiasdependencyonfossilfuelscanactasantitheticaltogrowthofIndia.
Thereisaneedtobalancegrowthwithsustainabledevelopmentanditcallsfordistinctandclear
policyguidelineswhichisacceptabletoallandprojectsdonotgetstalled.
Corruptionisamenaceandneedformoretransparency
ThegrowthofLWE(leftwingextremism)intheeasterncorridorhassubstantiallydeterredinvestment
intheresourcerichregionofJharkhand,Bihar,Odisha,WestBengaletc.
Suggestionstoundothebottlenecksanddrivemanufacturing:
TheManufacturingPolicyofindia,2011thataimstomakethesectorsGDPto25%.Itenvisagestoset
upNIMZ(NationalInvestmentandManufacturingZone)whichneedstobegivenfreshimpetus.The
growthofindustrialCorridorsliketheDELHIMUMBAI,CHENNAIBENGALURU,MUMBAI
BENGALURU,needstobeprioritisedandbedevelopedwithworldclassfacilitiesandinfrastructure
andtransportwithenablingreformsliketaxholidays,taxbenefitsetcthatcanspurtinvestmentsin
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theseclustersandmakeittheindustrialHuboftheNation.
DigitalIndiaProgrammehastobereinvigoratedandhastobemandatorilyintroducedinall
governmentaldepartments.Itshouldaimatmakingonlinefilingofprojects,trackingandmonitoringof
clearances.Aimtobringtransparencyinthesystemandreducebureaucraticredtapeandprocedural
delays.Aimtomakesinglewindowclearancesforallprojectsincludinginthestategovernment.
Trytorationaliseregulationbycurbingthenumberofregulatorsandcheckvictimisationof
industrialists.Effortsshouldbebroughtinallsectors.TherecommendationsoftheFSLRC(financial
sectorlegislativereformscommission)shouldbeimplemented.ItwillseparatetheroleofRBIand
betterinflationtargetingandUFA(unifiedFinancialAgency)willbringcoherenceinregulationin
financialfieldtocheckdiscrepancyandallalsonotoverregulatethings.Itwillenhanceinvestors
sentimentsespeciallyinthefinancialsectorwhichcanfurtherboostinvestmentandstrengthenForex.
MAKEININDIAcampaignwhichaimstoboostforeigninvestmentinIndiaisintherightdirection.It
hassetupdedicatedcommitteestoexplainthepolicy,sortoutambiguityinlaws,andfaster
clearancesofprojects.Thisprogrammeneedsmoreboostandeffectivelytakenupindifferentforums
likeASEAN,SAARCetc.
EaseofdoingBusinessneedsseriouslookatandnormalisedtoyieldeffectiveresultsontheground.
Needsbasedholism(reorganizinggovernmentarounddistinctclientgroups)alongwithcombining
theprincipleofsubsidiarity(activitymapping)tobekeptinmindwhileallocatingbusinesstoministries,
departmentsandstateagencieswhichwilldriveefficiencyinfilemovementandmanagement.
ThePublicProcurementPolicyneedsarevampandshouldnotbiastowardsPSUsandshouldcreate
healthyplatformforprivatesectortoparticipatethroughtransparentcompetition.
TheLabourReformsbroughtinforthbythegovernmentisawelcomechangeandisverywellhailed
bythebusinesscommunity.Incentivesmustbeprovidedtothestatestobringinsuchchangesintheir
respectivestatelawsassoonaspossible.DesirablelegislationscanbealreadyseeninRajasthan.
FDIinvarioussectorsneedtocomewithmoreliberalisednormstofacilitateinvestment.
TheinfrastructuresectorespeciallyRoadsandpowersectorneedstobeaddressedimmediately.
RationalisingoftheclausesoftheNuclearliabilitylawcanbedonetoboostnuclearenergy.
TheGaspricingneedtobemorelucrativetodriveinvestmenttoboostexploration.
JNNSM(JawaharlalNehruNationalSolarmission)hastobetakeninamorededicatedmannerandata
nationalscalethatcanreducethepricesofthesolarpanelsandspurtdemandandinvestment.
Thevariousarchaiclawsneedtobedoneawaywith.TheProductivityCommission/committeeto
reviewoldlawsasenvisagedinthebudget2014toremoveorreplaceoldlawsneedtobeproceedat
fasterpace.
Therehastobeeffectivegrievanceredressalsystemespeciallyrelatedtotaxationcases.Vodafone
case,Nokiacasedonotaugurwellfortheeconomyandretrospectivetaxationshouldbecompletely
avoidedtobuildconfidenceintheeconomy.
Taxationrelatedreformsneedtobebroughtinfast.EffortstobringGST(Goodsandservicestaxes)
actshouldbemadefaster.Asenvisageditcanboosttaxcollectionandtherebythecapacityofthe
governmenttofundmoreprojects.ItislikeaFTAsignedwiththeIndianstatesandcansubstantially
reducetimeandcostbyreducingmultiplecheckpostsandtaxbarriers.
TherationalisationofplanandnonplanexpenditureneedstobeaddressedwhileFRBMactneedsto
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bewelladheredto.Fiscalconsolidationmustbepractisedanditalsocallsfortherationalisationofthe
subsidiesanditseffectivetargeting.
Suchstepswillenhancethecapacityofthegovernment.
TheDTCcodebillandtheprovisionsoftheGAAR(generalantiavoidancerules)needtobefactorin
theconcernsoftheprivatesectorbeforebeingintroduced.
ThevariousFTAs(freetradeagreements)haveaddedbenefitsforthenation.Howevercasesof
INVERTEDDUTYSTRUCTUREneedstobeaddressedbeforesigningofFTAs.
Issueofhumanresourcealsoneedstobeaddressed.TherecenttrendofbraindrainfromIndiahas
tobecheckedbyfurtherinvestmentinResearch&Developmentandhighereducationfacilitiesin
India.Itiscriticalforthedevelopmentofnewinnovationsandresearchandgrowthoftechnologyand
latestproductwhichdrivetheworldmarket.TherecentcontroversyrelatedtoautonomyofIITs/IIMs
shouldbedoneawaywithasfastaspossibletofasttrackclarityinobjective.
TheDiplomaticeffortsshouldbetowardsgainingmoreaccesstomarketsespeciallyinareaswhere
Indiahascompetence.LookEastpolicybeingreplacedwithACTEASThasreinvigoratedthe
sentimentoftheprivatesector.TheUseofstrategiclocationcanbeeffectivelycommunicatedto
developIndiaintoatransshipmenthubforothernationsespeciallytoAfricaandSouthEastAsiavia
India.TheUseofAndaman&Nicobartoprovidecontainerfacilitiesandshipmentsinaregulated
mannershouldbecarriedout.
ElectronicsPolicyofIndia,2012recentlyunveiledaimstoestablishGLOBALESDM(Engineering
systemdesignandmanufacturing)inIndiaofworth$400billion.ThePolicyneedsmoreclarityasto
howsuchinvestmentsaretobebroughtinandshouldalsoofferincentivestoindustriestosetup
industries.
ThereisalsoaneedtotapthevastlabourresourcepresentintheEasternSectorofIndia.However
incentivesmustbegiventoindustriestosetuptheirbase.TheUseofNationalWaterHighWay1
fromAllahabadtoHaldiaforprovidingcheaptransporttotheportforexportcanbeextensivelyused
toboostproductionandmanufacturing.
Railwaysbudget2015offersgreatopportunitytotransformgrowthandmanufacturinginIndiaand
shouldbepursueddiligently.
ThereisalsoaneedtoboostcreditfacilitiesinIndia.Innovativemethodstoincreaselongterm
investmentinthemanufacturingsectorhastobeexploredwhilethemonetarypolicyhastoalsofactor
ininvestorssentiments
Congruencebetweenfiscalpolicyandthemonetarypolicyisessentialtodriveinvestmentandgrowth
andboostmanufacturing.
Finallythepolicyofboostinggrowthofthecountrythroughmanufacturingshouldbecarriedina
mannerwhichissustainablemannerandinclusive.Itwillkeepdrivingthefutureprospectofthe
economybycreatingthevirtuouscycleofdemandandsupply.

FUTUREPROSPECTS:
WorldBankReportofSOUTHASIAECONOMICFOCUSREPORT,2014hashighlightedfactthat
SOUTHASIAhasthepotentialtobecometheMANUFACTURINGHUBoftheworldespeciallywhenthe
EastAsianLabourcostshaveincreasedandrequiresfurthercompetitiveboosting.

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ItalsohighlightedthatIndiawillclaimALMOST80%oftheSOUTHASIANREGIONOUTPUT.
TheabovereportsumsitallforthefutureprospectsofIndiaandthepotentialthatitcarriestobenotonly
theBACKOFFICEoftheworldbutalsotheFACTORYOFTHEWORLDandclaimitrightfulplaceinthe
worldeconomy.
AnotherreportofWorldBankin2015relatedtoUrbanisationchallengesthecommonnotionthat
urbanisationleadstoinequalityratherstatedthatitprovidesmoreopportunityforlowerclasstomoveinto
upperclassandtherebyreducesinequalityandisespeciallytruefortheSC/ST/OBCs.Thusmanufacturing
andurbanisationwhichareintertwinedcanleadtonotonlygrowthbutalsoholisticdevelopment.

CONCLUSION:
TheworldiseagerlyawaitingtowitnesstheriseoftheASIANELEPHANTanditistimetoprovethemright.
Thevigourofthepoliticalclassdisplayedbythenewgovernmenttoboostmanufacturingandgrowthalong
withthefavourableglobalconditionsaugursextremelywellfortheriseofIndia.Thefavourablepolicyclimate
broughtinbyvariouslegislationsandtheimprovingeconomyofUSAandEuropehasbroughtinnew
prospectsfortheIndianManufacturingIndustry.
IMFstatesIndiaasabrightspotinaslowglobaleconomy.
Howeverthereismoretobedonethansaidorspokenabout.Thisfavourableconditionshastobe
conditionedwiththestrengthsofIndiawhichisitscheaplabour,skilledresourceandhugemarketcoupled
withdedicatedandtransparentadministration.GoodGovernancehastobebroughtinthroughanetworked
approachofGovernment,privatesectorandthecivilsocietythatwillfacilitateandbuildtrustandconfidence
essentialwithadequatechecksandbalancesforanyeconomytogrowandIndiaisnoexception.
ItisonlythroughdedicatedandsustainedeffortsthatIndiawillattainSWARAJinitstruesenseandbenot
onlytheglobalmanufacturinghubbutalsothelightoftheworld.

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