After the BJP government came to power in 2014 Narendra Modi announced a project called Make India saying that he would develop the manufacturing sector in India and turn India into a manufacturing hub for the world. It imports goods worth rupees from foreign countries. In fact most of the goods we import can be manufactured in our own country and exported abroad but it requires investment in technology and infrastructure. So the intention of make in India is to attract foreign investment to our country instead of going to a country like China and develop the manufacturing sector here. It is already more than 8 years since the project started but today I am going to say whether the original project was a success or a failure compared to 2014 how our country is performing in the manufacturing sector now whether infrastructure and employment has been created or in the future India will really become a manufacturing hub for the world or is this just a political drama any country should be strong and stable which means that the contribution of the manufacturing sector in the economy of that country should be very high.
If we look at the history of the country is economy before independence our country was heavily dependent on agriculture. That is why Indian economy is called agreen economy even though the industrial sector has developed in our country after independence it is very less compared to developed countries and I have already explained the reasons for that in many videos. Our country is government does not allow foreign companies to invest here freely but to build factories and manufacture goods. But due to the financial crises that came in our country in 1991 and some conditions given by the World Bank to give us loans in 1991 our country adopted capitalism in the name of economic reference which means that foreign companies can invest in our country and do business here freely. Financial experts thought that India would develop into an industrial economy like China, Japan and Germany but with the passage of time it changed because the industrial sector in the Indian economy did not grow as much as expected the growth of the agriculture sector also decreased and the growth of the service sector crossed.
These two sectors to the number one position but what is the real service sector software jobs and customer service jobs repair and maintenance education and health care all these also come under the service center. But over the years it slowly decreased and in its place the service sector dominates but on the other hand the growth of the industrial sector is almost always the same as it was in 1950. In fact it is not good for a country economy to depend more on the service sector because there are many reasons for this reason number 1 is vaniability of economic service sector and it is very sensitive there is any problem here the whole industry Shakes at one like suddenly clossing of companies loosing jobs a lot of insurance are mostly done in the service sector for example in recent times how many companies are wearing recession we all know that employees are removed from jobs so more than 50 percentage of a countrys GDP depends on such a service center so if there is a recession think about the condition of the country economy mostly form company clients work on you
Even if there is no problem in their country it directly shows an impact on our income on our country economy. In reason number 3 the company in infrastructure growth service center always focuses more on non physical infrastructure than physical infrastructure in the country roads and manufacturing factories instead of developing they focus more on technology and innovation so only the area where the company is located will be developed and the rest of the area will remain the same and in addition to these there are many more problems due to depending more on the service center so the manufacturing sector running along with the service center in India should also be accelerated. In 2014 Narendra Modi started a campaign called make in India with the idea as we have already talked about the main purpose of this campaign is to develop India as a global manufacturing hub and make India an investment destination for the world and to achieve that our government should set some targets that is the manufacturing in the country every year there should be 12 percent growth in the sector and by 2022.
Only 10 crore new jobs should be created in the manufacturing sector moreover the manufacturing sector which contributed only 16 percent to our countrys GDP in 2014 should be increased to 25 percent by 2022. But due to the corona virus that came in 2020 these targets were extended from 2022 to 2025 so the India program launched by Modi in 2014 with great height and publicity has really created a shock in the whole world which means that India will soon cross China and develop into a manufacturing hub many media channels and according to the news agencies published in 2015 our country received enormous foreign direct investments that is India crossed China in terms of foreign investment and created a record for the first time as the country with the highest foreign investment in the world. For example by attracting foreign companies to India and setting up factories here developing infrastructure and providing jobs to the youth here the main object of the Vehicle India campaign is the main object of the Vehicle India campaign but after 2014 they have closed their business from our country for more than in 2019 year.
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