Make in India, An initiative of India, for the World.
India is rising as a nation of opportunities, contributing to a thriving and resilient globe, and thanks to the compelling message of 'Atmanirbhar Bharat.' Reforms implemented during the last six years have boosted competitiveness, transparency, expanded digitalization, and led to more economic activity.
By creating the right policies and a favorable ecosystem the “Make in India“ initiative has driven investment to foster innovation, enhance skill development, protect intellectual property, and build best in class manufacturing infrastructure in the country. With Information Technology as the backbone to the vision of Industry 4.0 dominance going forward.
As a result, there has been visible growth across industries, with India attracting several firms to establish their business divisions with new innovation hubs. This in turn opens up enormous and game-changing opportunities for talent from around the world, to establish India as the Talent hub for the world.
Why “Make in India” Mission?
With Make In India - The government is encouraging multinational companies to boost their productivity and competitiveness by manufacturing products in India and leveraging India’s IT strength.
But what it has also done is with the “Start-up India” initiative having set a corpus of $3.7 billion to fund entrepreneurship in the IT sector is provide an ecosystem for Indian start-ups and companies to look at developing products and solutions for the global market, to think big and make for the world. As the government introduced policies that are conducive for the growth of start-ups and innovation, several companies have set up incubation centers in the country.
The govt has also initiated projects along with industry bodies to develop infrastructure for Information and Communication Technology (ICT) throughout the country. It conducted events and innovation conclaves, to showcase innovation and market India’s skilled manpower in the field of smart manufacturing and the Internet of Things (IoT).
With favorable Govt policies and a supportive framework, the time is now for companies to conduct research, drive innovation in products and services and move up the global value chain in new technology areas. With every sector riding on Digital Transformation it is imperative for the industry to scale up on ambition and to make for the world – in the newly emerging fields such as IoT, AI/ML, BPaaS, and platforms to fuel growth.
Today India has one of the most vibrant startup ecosystems in the world, with 41000 recognized start-ups it is the world's third-largest startup ecosystem. India has, over the years established itself as a software hub for the world. The Software Technology Parks of India has played a vital role in achieving this status. Now the time has come to claim the advantage of becoming the manufacturing hub of the world with pioneering Industry 4.0 technologies.
Early samples of success of Make in India
With India rapidly progressing in digitalization, the launch of “Tez” in India is a great example of ‘Make in India, For the World’. Tez was a standalone project for digital payments, launched exclusively for Indians. Developed by Google, popularly known as Tez in 2017, is now a household payments app, Google Pay. This digital payment app is a widely used online payment platform not just in India, but in more than 40 countries, with over 150 million users.
United Payments Interface (UPI) is India’s own real-time mobile payments system developed by the National Payments Corporation of India (NCPI) in 2016. By 2019, the UPI system crossed 1 billion transactions and over 100 million users, merely three years after its launch. It has recently been launched in UAE making its global foray. This could be the big breakout moment for Indian fintech solutions to gain a global leadership position.
Are we working towards the vision?
Currently, Automotive, Electronics System Design & Manufacturing, Renewable Energy, Roads & Highways, Pharmaceuticals, and Food Processing have been identified as the 6 Superstar Sectors Boosting the “Make in India” Mission. It is one of the golden opportunities, helping to put India on the globe of becoming the design-led electronics manufacturing hub and attract investments and create high skill jobs in the country.
Automotive firms are taking up the opportunity to power up India as a hub for low-cost, high-quality manufacturing capabilities. The Automotive Mission Plan 2026 seeks to establish the automotive industry as the driving force behind the Make in India initiative.
Ambitious start-ups are pioneering EV manufacturing for the world markets.
The renewable energy potential in India is immense and mostly unexplored. India has vowed to meet a minimum of 40% of its energy requirements from renewable sources by 2030. This includes an ambitious project to build 100 GW of solar energy capacity by 2022.
With energy security being a major concern and driver, many a start-up and large corporates have ventured into the green energy space.
This ecosystem creates numerous opportunities for niche skills in India. Innovation and entrepreneurship are developing emphasis areas that are being aggressively encouraged in order to give the Indian economy a boost.
Bridging the talent gap
India has transformed itself into a nation of opportunities, and we have a young demographic advantage, a large pool of talent and skills that will assist India in taking advantage of the global opportunity. Skills in the field of Data Science, AI/ML, Robotics, Automation, R&D, Hardware, 5G and more, are in high demand and India is home for young and dynamic skilled individuals.
But driving India's vision necessitates proper human capital. India needs a pool of highly qualified professionals who can lead the high-tech evolution and keep India on the cutting edge of technology. And in the world of cutting-edge technology, experience is everything.
India's vision for talent must be as ambitious as the country's goal. If the organization's objective is to be a global game changer, India must look out for game-changing talent.
The highly seasoned and competent NRI Techies with experience and exposure to cutting-edge technologies would be the most ideal in this hunt for talent. To tap into this large pool of human resources would be India’s best bet for obtaining the perfect people to match the country’s ambition.
With India now having the world's third-largest start-up ecosystem pushing breakthroughs across industries, the country has unbeatable potential to become the world's next Technology & Manufacturing hub. If India is to be regarded as the worldwide center for tomorrow's technologies, it is only logical that the top global talent will find a home here.
With the right talent, the industry can work to achieve India’s vision of ‘making for the world’ a resounding success.