Status and Challenges of Manufacturing Sector of India and 'Make in India' Initiative of Government of India

The Indian economy showed resilient behaviour during recent global recessionary conditions and has emerged as one of the fastest growing economies m the world. The salient feature of India's recent growth has been the dynamism of the service sector, while the manufacturing sector has been comparatively less robust. The manufacturing sector of Indian economy still lags behind in comparison to some developed and developing nations. There are certain bottlenecks in the Indian economy which the Government needs to address towards making India a global manufacturing hub. Government of India takes valuable initiatives to tackle these bottlenecks like 'Make m India. The present research paper aims to study the status of manufacturing sector m Indian economy, recognize the key challenges faced by manufacturing sector of India m the course of development process. The paper also throws light on the 'Make m India' initiative of Government of India which is launched to promote the development and competitiveness of the Indian manufacturing sector.