PAPERS- VOLUME 2, ISSUE 1 (Sept.-2016)

Innovation : Contributing in success of Make in India

Authors
Harsh Tuli

Abstract:

Abstract India is facing stiff competition from major emerging economies such as China, Mexico and Indonesia for becoming manufacturing and export hubs of the world. The decision of MNCs to invest in these markets has been explained through various theories from time to time. The present days Initiative of ‘Make in India’ by the government to brand India as a manufacturing location is finding a lot of applaud across all corners. The success of the ‘Make in India’ initiative depends a great deal on innovation in the manufacturing sector, Innovation that helps India position itself on the world map as the most cost effective manufacturing destination but also as a leader in innovation. The concept of innovation in a cost effective environment will make it a competitive advantage for India that will be most certainly difficult to beat. Best and Innovative practices across all facets of business coupled with the geographic and resource advantages that India presents will make India an attractive foreign investment destination. All of this will not only help realize the ‘Make in India’ goal but also ultimately help improve the overall economic situation of the country.



Keywords: Keywords: Economies, Make in India, Manufacturing Sector

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