Make in India – a giant leap towards economic freedom
Prime Minister Narendra Modi came to power at a time when the Indian economy was in shambles. There was a sudden downturn in the economy which created a possibility of a full-blown crisis. At this time, what India required was a potential leader who could revive our economy and fill in the hearts of its citizens that yes this phase could be soon replaced by a more stable system.
It’s interesting to note that when the whole world was covered in the miasma of worst economic disaster in 2008, India was blooming with a GDP growth of 9%. But this phase had a very drastic outcome. While the world tried to get over it and started rejuvenating its economy, Indian economy faced a bleak future. The rupee tumbled to its very low point against the dollar, share prices hit minimum level, growth stalled and our foreign exchange reserves were lowest. The fall not only affected our financial stability but also instilled a fear of uncertainty in the minds and hearts of citizens. Everyone was looking at the world’s largest democracy with a sense of disappointment.
This was the time when we heard the incantation of “ache din”. Everyone was filled with a sense of hope. There was a revolution in our country. BJP won with a complete majority and that’s when we had our new leader Narendra Modi who promised to revive our economy completely.
Make in India came against this background. It was one of the gigantic efforts taken up by his government. It came as a boost to local industries. More and more investors were attracted to invest. It was an unprecedented, one of its kind initiative taken up by any democracy.
It gained momentum very quickly and was appreciated worldwide. Today we are seeing it getting forward at a surprising pace. The economy is certainly getting better even though it is just in the initial phase. Let’s see what’s more in the store with our very new daily series based on Make in India theme.