‘Make in India’ has simply become ‘Fake in India’: Senior Congress leader Jairam Ramesh

Congress general secretary in-charge of communications Jairam Ramesh also said that in the last decade, economic policy making has been far from being stable, predictable and sensible

The Congress on Monday (October 14, 2024) alleged that the objectives spelt out by the Modi government at the time of launch of 'Make in India' have turned out to be "jumlas", and that 'Make in India' has simply become "Fake in India".

Congress general secretary in-charge of communications Jairam Ramesh also said that in the last decade economic policy making has been far from being stable, predictable and sensible.

"When he 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 Indian industry to 12-14% per year. Reality: Since 2014, annual growth rate for manufacturing has averaged around 5.2%," Mr. Ramesh said in a post on X.

Why ‘Make in India’ has failed

"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. 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," he said.

"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. Share of imports from China have risen from 11% in 2014 to 15% in the last few years," the Congress leader said.

“In the last decade, economic policy making has been far from being stable, predictable and sensible, recall demonetisation, for instance,” Mr. Ramesh said, adding that 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. ‘Make in India’ has simply become Fake in India,” Mr. Ramesh charged.

On the 10th anniversary of his government's 'Make in India' drive, Prime Minister Narendra Modi last month had affirmed that the flagship initiative to boost manufacturing has transformed a dream into a powerful movement and its impact shows that "Bharat is unstoppable".

The programme, he had said, illustrates the collective resolve of 140 crore Indians to make the nation a powerhouse of manufacturing and innovation.

Published - October 14, 2024 12:57 pm IST