Article
A Study on the Impact of Socio-Economic Factors on the ‘ Make in India’ Initiative: Evidence from a Global Perspective
Make in India initiative was initiated with the aim of converting India into a manufacturing center in the world by nurturing industrial growth, foreign direct investment and creation of employment. The paper will focus on how the primary socio-economic variables, which include education, income levels, workload, and infrastructure, affect the success of the initiative in an international view. Due to the research design pursued (quantitative and analytical), the study will be founded on primary data comprising 150 respondents and secondary data obtained using scholarly sources. Descriptive analysis, correlation and regression were used as statistical tools to test relationship among variables. The results indicate that the socio-economic factors majorly determine the performance of the initiative with infrastructures and education being the most vital factors. The findings also reveal that, as much as the move has improved the role of India in the global manufacturing sector; issues like lack of skills, and geographic imbalances besides the lack of equal distribution of income still exist. The paper finds that the only way to sustain industrial growth and global competitiveness is to have a holistic approach that incorporates socio-economic development and policy implementation.
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