`Make in India` in Defence Sector: Opportunities and Challenges

Mohan Singh¹

Section:Research Paper, Product Type: Journal-Paper
Vol.4 , Issue.1 , pp.10-15, Mar-2016

Online published on Mar 31, 2016

Copyright © Mohan Singh . This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
 

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Abstract :
Indian Science and Technology, during its fantastic journey to write the glory of tremendous achievements, has made the life of human being easy and comfortable. Economics is basically a subject focusing on augmentation of material welfare of human being technically termed as economic growth results from utilization of natural resources based on available technology. Eventually, high level of economic growth comes through route of scientific growth and costs on depletion of natural resources & degradation of ecological environment which in aggravated form endangers the human existence. The dilemma of economics is to justify the growth process with tolerable limit of environment dilapidation and methodology for futuristic approach in terms of quantum of environment protection and sustainable development. The goal of public policy is to develop ways for making social choices regarding production and consumption and the interrelation between these two. When this come to development and use of technology, it requires additional concerns as it on side is produced means of productions and consumption for production and on the other side it warrants huge investment for low and long run return. For a country like India it becomes quandary on account of scarcity of resources and low level of technology. The recent initiative of Government of India has instigated different sectors to focus on more production within the country and defence sector is more important owing to the reasons of strategic importance and self dependence. Although production has been integral part of economic targets but `Make in India` programme has overstressed manufacturing in side country and so a different approach of policy and instruments named as `Make by India` gets an edge in economics as it is based on economic dividend. In the current world of globalisation where national boundaries are getting diluted, it is always better to identify our strength and reap the benefit by utilising the same. For the present progressive and vibrant India, where contribution of service sector in economy has reached to more than sixty percent, it is not less important to convert our manpower into skilled human resource to yield benefit by production and supply of services. The worry of economics is not to misunderstand the meaning of production (not manufacturing) and self reliance (not self dependence) which may cost on economic advantage. We cannot afford to ignore the limitations of manufacturing which has been conventional policy upto twenty first century. To conclude, it is better to give stress on production inside the country to boost the growth rate but to be cautious that more import things which are intrinsic of sustainable development are not ignored to the extent of regret in future.

Key-Words / Index Term :
Make in India, Make by India, Economic growth, Sustainable Development

References :
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