Manufacturing and Make in India
Launched in 2014, the Make in India initiative aims to boost manufacturing through:
- Ease of Doing Business reforms
- Production-Linked Incentive (PLI) schemes
- Growth in electronics, automobiles, and pharmaceuticals
- Digital India and IT Revolution
India’s IT sector generates $245 billion in revenue (2024).
- Digital India initiatives include Aadhaar, UPI payments, and broadband expansion.
Pre-Independence Era Before British colonial rule, India was a prosperous economy with thriving trade in textiles, spices, and handicrafts. The colonial period (1757–1947) led to deindustrialization, exploitation of resources, and famines, leaving India impoverished at the time of independence. Post-Independence Economic Policies After 1947, India adopted a mixed economy model with a focus on self-reliance (Swadeshi) and state-led industrialization. The Five-Year Plans, inspired by the Soviet model, emphasized heavy industries, agriculture, and public sector dominance. However, by the 1980s, inefficiencies and slow growth necessitated reforms.
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