Impact of Make in India on Financial Management of Business

Abstract

Exactly one year ago our Honorable Prime Minister Shri Narendra Modi had launched the Make in India‘ initiative with an aim to give Indian economy a global recognition. The 'Make in India' program is an initiative launched to encourage companies to increase manufacturing in India. This not only includes attracting overseas companies to set up shop in India, but also encouraging domestic companies to increase production within the country. 'Make in India' aims at increasing the GDP and tax revenues in the country, by producing products that meet high quality standards, and minimizing the impact on the environment. Fostering innovation, protecting intellectual property, and enhancing skill development are the other aims of the program according to the 'Make in India' website The major objective behind the initiative is to focus on 25 sectors of the economy for job creation and skill enhancement. This paper aims to study the basic aims of the initiative and the impact it has on business and especially on financial management. It is expected that through this imitative the Indian business will achieve huge dimensions in area of financial management and can reap the benefits of cheap easily available capital and strong currency economy.