Make-in-India is the new wheel of fortune for the Indian economy. With the current talent pool, India is one of the world’s largest sourcing destinations for the information technology sector. With around ten million workforces currently employed in this industry, the IT sector has led to an economic revolution and enhanced the picture of the nation in the global economy.
With the Make in India, it is expected that this much-awaited project will attract significant investments in various sectors, including IT, thus transforming India into an investment destination. The IT and ITeS industry are eagerly looking forward to bring together major policies and reforms that can fuel its growth. This nation building initiative launched by Prime Minister Modi is dedicated to converting India into a global design and manufacturing hub. Undoubtedly, this will ignite the drive of the IT sector towards continuous efforts to grow and increase the software and related products startups in the country.
The nation anticipates positive outcomes from the Make-in-India initiative. The various policies and plans are set to trigger enormous growth in the software sector of the country. It is a well-known fact that over 50 percent of the IT industry in India is concentrated in Bangalore. Being the largest IT exporter of the nation, Bangalore is popularly known as the Silicon Valley of India and has coined itself to be the best place to procreate startup businesses. Top IT companies like Accenture, Microsoft, IBM, TCS, Google and all other renowned IT MNCs have offices located at Bangalore with a significant chunk of operations handled here. Through the Make –in- India campaign, the Government will be allotting an amount of Rs 5 billion dedicated to launching a PAN India program termed Digital India. The digital India aims at renovating India into a country where every citizen irrespective of class and status, has easy access to digital services, information, and knowledge of ongoing and upcoming developments. The plans devised by the Digital India group include forming nationalized Internet & technology missions at schools in rural areas, imparting training in IT skills and promoting the idea of E-Kranti. This program will reinforce the IT sector growth in the country thus increasing the number of IT jobs, like software and testing jobs, etc., in India.
Acting as a catalyst for capitalizing the budding upcoming opportunities in the IT sector, Make-in-India campaign encompasses the Indian Government permitting 100% FDI under the automatic route in computer consultancy services and software development, data processing, market research and software supply services, technical testing and analysis as well as business and management services. With the implementation of The National Policy on Information Technology (NPIT 2012), the primary goal is to raise the revenues of the IT industry to USD 300 Billion and exports to USD 200 Billion by the year 2020. It also aims to integrate the Indian IT products and services in Indo-international programs thus enhancing global trade and elevating the employment opportunities across the nation.
Not only that, the list of objectives to be accomplished through this innovative campaign is endless. Starting from India gaining significant market share in technologies and services at a global level to value creation by the SMEs and startups through fiscal benefits, this initiative is all set to transform the unified long-term dream of the Indian citizens into reality.
While there have been talks about the increased transparency in dealings and lack of privacy of information, much of it seems to fade away with the strategic importance of this campaign. The recent launch of the cheapest smartphone in the world costing Rs. 251 has provided a real boost to the prime minister’s initiative and made the slogans of “Acche Din Aane Wale Hain” ( Good days of prosperity are about to arrive) true for the Indian IT sector. Fingers crossed as we see the country transforming into the global technology hub!