| |NOVEMBER 20219creation and produce extra venture and open positions. This rollout is intended at attracting international investments in the manufacturing sector and make India globally competitive. It aims to encourage local companies to set up or expand existing manufacturing units in the country. · The PLI scheme has the potential of creating approximately 1.40 crore man-months of additional work. This enables doubling the workforce engaged in production and manufacturing activities, thereby creating more jobs and income. Our policies and regulations should invite foreign companies to set up manufacturing units in the country while also encourage the local companies to expand production and manufacturing facilities. · Making it easier to set up businesses, irrespective of the scale and size is definitely a great move to increase economic activity. We need to create a competitive manufacturing ecosystem, capable of reducing dependency on other countries. And for this, we need to reduce bottlenecks and encourage investments in better technological innovations. · Availability of flexible financing and skilled workers to improve efficiency and reduce costs is the key to realize real growth in the sector.The manufacturing sector contributes to approximately 20 percent of India's GDP. And therefore, it largely shoulders the responsibility of job creation, attracting investments, propelling business, industrial and economic growth. Creating a conducive environment for this industry to thrive is essential. Building up the scale of its manufacturing sector is of utmost importance for the country as the lack of it would prove detrimental to its economic aspirations. While the government has announced a slew of measures to spur job creation in the manufacturing sector, it is imperative more than ever before that we make the `Make in India' story work, to enable the `Make for the World
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