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Informist, Monday, Oct. 14, 2024

NEW DELHI – The Congress on Monday criticised the Narendra Modi-led government's 'Make in India' initiative and alleged that the four objectives set out by the government during its launch in 2014 have turned out to be "Jumlas". Congress General Secretary Jairam Ramesh said in a post on X, formerly Twitter, that during the announcement of 'Make in India' in 2014, the Modi government claimed that the initiative will increase the industry growth rate to 12-14%, create 100 million industrial jobs, increase the share of manufacturing in GDP and make India the "new factory of world".

"When he (Prime Minister Modi) announced 'Make in India' in 2014 with his usual hype and hoopla, the non-biological PM set out four objectives. Ten years later, a quick status check: Jumla One: Increase the growth rate of the Indian industry to 12% - 14% per year Reality: Since 2014, annual growth rate for manufacturing has averaged around 5.2%. Jumla Two: Create 100 million industrial jobs by 2022 Reality: The number of manufacturing workers fell from 51.3 million in 2017 to 35.65 million in 2022-23," Ramesh said in the post.

"Jumla Three: Increase the share of the manufacturing sector to 25% of GDP by 2022, and later 2025 Reality: Share of manufacturing in India's Gross Added Value has fallen from 18.1% in 2011-12 to 14.3% in 2022-23 Jumla Four: Make India the 'new factory of the world', taking over from China by moving up the value chain Reality: Far from taking over from China, we have become economically dependent on it," Ramesh said, adding that the 'Make in India' has simply become 'Fake in India'.

The Congress general secretary said that instead of taking over China, India has become economically dependent on the country and the share of imports from China has risen from 11% in 2014 to 15% in the last few years.

"In the last decade, economic policymaking has been far from being stable, predictable and sensible (recall demonetisation, for instance). Growth in private investment has been hampered by an atmosphere of fear and uncertainty. Competition has been stifled as one or two big business conglomerates close to Mr. Modi have been favoured and prospered," Ramesh said.

Prime Minister Modi launched the 'Make in India' initiative in September 2014 with the objective of transforming India into a global "design and manufacturing" hub. On the 10th anniversary of the initiative in September, Modi said that the initiative has transformed a dream into a powerful movement. "The impact of 'Make in India' shows that Bharat is unstoppable," he said. End

Reported by Kuldeep Singh

Edited by Vidhi Verma

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