Make in India Initiative: Are We on the Right Track? By Deepak Parvatiyar May 30, 2015 5.00 / 5 (100.00%) 1 vote On 15 August 2014, Prime Minister Narendra Modi had given a clarion call – ‘Make in India’ – to the entire world from the ramparts of the historic Red Fort in New Delhi. The concept caught the imagination of the world for various reasons including the following: a) Skilled workforce – India’s 500-million labour force includes English-speaking skilled workers. b) Low labour costs – A U.S. Bureau of Labor Statistics study showed that average labour compensation (including pay, benefits, social insurance, and taxes) in India’s organised manufacturing sector increased only marginally from $0.68 an hour in 1999 to $1.50 an hour currently. In comparison, the average compensation in China’s manufacturing sector has risen by 20 percent year-on-year in the same period to $3Make in India Initiative: an hour. Already, top technology firms such as
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