Dinesh Kamath's Editorial 'Modi’s ‘Make in India’ and FDI policies are welcome steps' that was published in Newsband

Modi’s ‘Make in India’ and FDI policies are welcome steps

Prime Minister Narendra Modi’s Make in India campaign has been appreciated by many. Modi was worried about the fact that Indian companies were forced to consider investing outside the country due to policy flip-flops and delays in clearances.  Hence he came up with FDI — First Develop India — policy to create an enabling environment for investment in our own country first.

Prime Minister did not dangle incentives to attract investors, a practice that has been in vogue until now. Instead he promised to create a ‘business-friendly’ environment.

It is indeed imperative that the government’s actions should match its words. Make in India is good but Modi should also come up with new schemes that are beneficial for the poor Indians who are the first and foremost stakeholders of this country and whose basic rights such as food, education and health have not yet been fulfilled. In other words, Make in India should not just appear like a pro rich project but also a pro poor one.

Make In India and FDI (First Develop India) is a welcome step. Diplomatic relation and Persuasion power of Modi will certainly be helpful in terms of transfer of modern technology and share of knowledge between countries. Prosperity of India is linked with prosperity of Asia and World too. Major challenge would be to make the Make In India and FDI initiative inclusive. Every section of the society should benefit out of it.

Business-friendly should not mean the kind of crony capitalism encouraged and exploited by politician-corporate nexus in UPA government. The policy framework should be transparent unlike the allocation of coal mines or 2G waves to illegally benefit the crooks in politics and business. Modi's policies and decisions will be x-rayed by people and anti-BJP media will be ready to punch the moment they find a loophole in those policies.

Modi has taken a historic step in introducing 'Make In India'. Along with encouraging foreign investors, it is very important that Modi also promotes research and development in India. By doing so, the term 'Make in India' will attain its full meaning. Many technicians and engineers are migrating to foreign nations due to lesser opportunities of research in their home country.

Modi's anticipation for pushing India to development mode is appreciable, but at the same time these are to be dealt in a pragmatic way.