|Image credit: dnaindia.com|
More capital will be generated within the economy which in turn would stabilize the credit system of the country. Since the sectors will be producing their own goods within the country so it is the economy which will be benefitted as the entire capital formation is taking place within the country itself. Many latest technologies and infrastructures will be developed which will be helpful in the production process. It will enhance the efficiency of the product and maintain high-quality standards up to a certain level. Also, the exports will increase which in turn will increase the capital generation within the economy.
To become one of the largest economies in the world, these developments and changes have to be brought about to ensure an efficient growth and development of the country. Incentives must also be provided by the government to encourage various sectors of the country to manufacture their own goods and products. If the Indian economy continues to grow at an efficient rate then one day India will become one of the largest manufacturing hubs in the entire global market. Finally, India can become one of the top-ranked monopolies in the global market and provide goods to the world at reasonable prices.
A lot has been done by the Government of India to promote this initiative even in the International markets, there has been a sudden positive sentiment from Manufacturing giants and Investors abroad to invest and make in India. Although it has a very tough and challenging way ahead to provide the underlying infrastructure required to make world class products in bulk at reasonable prices, it seems to be a good start towards brighter prospects for employment opportunities and the Economy as a whole.
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