India is a very rapidly growing country. The economy of India is the seventh largest in the world with 7% nominal GDP. India is also classified as the newly manufactured country of the world. To standardize the life style and prosperity of the citizens of a country, the government of a country should focus on the economy of a country.
And India has the ability to become the world's largest economy power because of its resources and the largest youth populations. Economy contains lot of sectors like agriculture, service, tourism; industry etc.India has a constant growth in industry sector and a very low in IT sector and tourism sector. To increase the GDP of a country and to make India more beautiful place to live in , government of India launched many policies, schemes and campaigns like "MAKE IN INDIA" and "INCREDIBLE !NDIA" which have same objective but their point of convergence is different.
MAKE IN INDIA compaign was initiated by Hon'ble PM NARENDRA MODI and Department of industrial policy and promotion last year."Come, make in India. Be it plastics or cars or agricultural products, come make in India", said PM Narendra Modi in his Independence Day speech from the capital of the country. By this, the government wants to make INDIA a manufacturing hub.This compaign mainly focused on the industrial sector, defense sector, construction sector and space sector. By this, the govt. has an estimation to increase the Indian GDP by 16-22% by 2022.
It opens the doors of the Indian market for foreign investors. They can invest in the India market to increase the growth of production and to increase the competition in the market. It results in increase in the job opportunities for both skilled and unskilled workers which can reduce the problem of poverty to much extent.
The results of "MAKE IN INDIA" project are favorable and qualitative. The government has allowed 100% FDI(foreign direct investment) in all sectors except space, defense and news media which results in the investment of HUAWEI(A Chinese company)of $2 billion in Bangalore to set up global R&D center which will give job to around 5000 engineers.
A huge contract has been given by railway ministry to GE AND ALSTOM of 40000 crore INR to set up diesel and electric engine factory in Bihar.
And also many other companies like HITACHI which will invest in Chennai. Not only foreign companies , domestic companies like spice also said to set up its manufacturing mobile unit plants in Uttar Pradesh with an investment of 500 crore INR which make the INDIA ,a supreme part of global market.
On the other side, INCREDIBLE INDIA was launched by ministry of tourism in 2002 to promote tourism sector in INDIA. INDIA known for its diversity, it's cultures , traditions and for its captivating beauty which can attract the tourists from all over the world.
India is one of the ancient civilizations in the world that's why many of the historians are interested in India. And the slogans like "atithi devo bhava" which reflects the cultures of ancient India attracts more tourists and by this campaign , Indian govt. want to project India as a attractive tourist destination , by expose India as a place of yoga , folk dances and classical songs. And from the economic view, it is the prime sector which contributes approx. 7% to Indian GDP. And to increase this growth, Indian govt. took the satisfactory step which results that now India has come out as the fastest growing market in the Asia-Pacific in terms of international tourist spending.
There are many projects which were launched by Indian govt. to make India a global hub, from which some are very productive. And with the help of these, Indian economy has a tendency to become 3rd largest economies by the next 10 years and the largest by mid of the 21st century. These projects increase the purchasing power of the customers; increase the competition in the domestic market as well as in global market; reduce poverty to much extent and also increases the foreign trade (specially an export business).
Besides of these, the modernize government of India launch many schemes and campaigns like digital India , start ups, skill India, smart city mission and many more which give a chance to the youth to show their talent in the international market.
With the praising outcomes of these campaigns, India is not very far away to become the supreme power in the world. And we can assume that,
"If 19th century belonged to Britain and the 20th century by America the 21st century will surely belong to INDIA."