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| A healthy competition between "Make in India" & "Made in China." | | | Early Times Report
Jammu, Sept 27: It is going to be "Made in China" versus "Make in India" after the two major Asian nations have reshaped their policy on stepping up growth in various sectors.Whether Beijing emulated Narendra Modi's new ambitious project on making India a home for "Make in India" or New Delhi decided to follow the Chinese plan on promoting "Made in China"in the sectors of industrial production of diverse importance is not as important as the end results of the two policies.
Launching his government's ambitious project to make India a manufacturing hub, Prime Minister Narendra Modi has promised effective and easy governance to help achieve high growth and creation of jobs. Kicking off the "Make in India" campaign, he has said his government's focus will be on physical infrastructure creation as well as creating a digital network for making India a hub for global manufacturing of goods ranging from cars to softwares, satellites to submarines and paper to power.
Modi makes it clear hat he does not only talk about good governance but also about effective governance and easy governance while launching the 'Make in India' campaign .
Calling upon domestic and international companies to invest in India, the Prime Minister said his government's focus was not only to 'Look East' but also to 'Link West'.
And under the "Make in India" campaign India does not aim at having highways but also i-ways - information ways for a Digital India.In fact Modi wants to arrest a trend,visible during the last two to three years,in which Indian companies were looking to move out of the country. Modi has claimed that during three months of the NDA government the trend stands reversed with focus on easing the process of doing business in India. Modi has said that his Government is committed to development. This is not a political agenda, but an article of faith and stressed on public-private partnership as well as skill development for increasing share of manufacturing in GDP. He has said the world is ready to come to Asia and India offers best destination as it is a vibrant democracy with demographic dividend and huge demand.Well he does not seem to believe in incentives for motivating industrialists to set up their units in India because he wants the FDI to mean "First Develop India" and not necessarily Foreign Direct Investment.
On the other hand China too has launched what Beijing calls "Made in China."Well the establishment in Beijing plns to introduce tax frelief for those who wish to import sophisticated machines for modernizing manufacturing units.The new decision coincides with the global launch of Modi's "Make in India" campaign
Seeking to retain its manufacturing prowess, the Chinese Government has launched a "Made in China" campaign with a host of tax concessions coinciding with Prime Minister Narendra Modi's "Make in India" pitch.China will encourage high-tech imports, research and development (R&D) to upgrade 'Made in China.Under the new campaign, China will use tax breaks to encourage enterprises to upgrade their equipment and increase R&D efforts to improve the manufacturing industry.
Companies that bought new R&D equipment and facilities after January 1 or possess minor fixed assets will have taxes reduced based on value.Imported high-tech equipment will also enjoy tax deductions in aviation, bio-medicine production, manufacturing of railway and ships, electronics production including computer and telecommunications, instrument production and those used in making IT products and software
The only difference between Modi's "Make in India" and Xi Jinping's "Made in China" is that while New Delhi has kept options open for foreign investment in India for producing high class goods,Beijing has laid emphasis on importing Research and Development (R&D) equipment for manufacturing goods that could compete in the world market.
While Beijing has plans of providing some tax concessions to those importing R&D equipment for upgrading manufacturing units New Delhi is silent on the issue and instead it wants joint partnership between the India entrepreneurs and those from abroad so that each company or unit become a multi-national company. Modi has a number of slogans and missions.Samples of a few of them.
This nation is yours. There is no need to leave the nation. We want our companies to shine as MNCs:
I want Indian companies to be multi-national ones. But they should make the country stronger. I urge those of you who've been considering leaving India to stay back, flourish here first, then decide.
We have reversed the trend of investors going outside the country: Nobody can question the talent of our people...especially after yesterday's space achievement. Both Beijing and New Delhi need to understand that if the two nations follow the goal they have set the two can become a major industrial power in the world.
The two nations need to know that it should be a health competition between "Make in India" and "Made in China," failing which the two slogans may end in a major conflict that could cast a shadow on growing cordial ties between Beijing and New Delhi. |
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