byGuest of Honour- Dr. J.C.Sharma (IES) &
Former Economic Advisor to Ministry of New & Renewable Energy
The “Special Seminar Series” is being initiated under the stewardship of Director IMS, Prof. J. P. Sharma, with the sole objective of encouraging “Quality Discourse” in the campus by inviting “Academic Exponents” of our country.
Prof.J.P.Sharma, in his inaugural address, referred to “Make in India” as a ‘brainchild’ of present Prime Minister of India. In his opinion, the present Government has undertaken a laudable initiative in the country. The sole objective was to encourage manufacturing in the country by attracting FDI and upgrading quality of jobs. Prof. Sharma also eulogized Dr. J.C.Sharma, as a key Government official, who was also instrumental in the implementation of several key policies in the country.
In his “Seminal Lecture”, Dr. J.C.Sharma (IES), praised “Make in India” as a dream project of the current Government with the basic objective of transforming the current business environment in the country. He also elaborated “Make in India” and “Made in India”. In his view, ‘Made in India’ has to play a vital role in the success of “Make in India”. While tracing the historical evolution of the Indian businessmen, Dadabhai Naoroji, Justice Ranade, Jamshedji Tata were some known Indians who had made significant contributions towards manufacturing sector in the country. However, in the Post-Independence period, the main focus was on ‘Public Sector’ and to save FOREX. In fact, the “Import Substitution” gave philip to “Made in India” that time. Later on, in 1960s & &’70s, focus was shifted to social welfare. The country faced an acute “Balance of Payment (BOP)” crisis in late 80’s, and India subsequently looked towards IMF for bailing out from the crisis. IMF forced India to undertake “Structural Reforms”, which ultimately led to “Economic Reforms” in the country. The Three D’s- Dis-investment, De-regulation & De-licensed, subsequently changed the business environment of the country in years ahead. India switched from ‘Agrarian Economy’ to “Services Sector”. However, Dr. Sharma also categorically stated that ‘no country can prosper without giving boost to manufacturing sector’.
He also drew attention on the fact that though China is a manufacturing giant in the Asian region, its dependency ratio is 44 percent whereas; in case of India it is just 31 percent. Today, China also feeling the pinch of rising wage rates which will ultimately lead to low share of employment in manufacturing sector. The Central Government announced“Zero Defect Zero Effect” in 2014, which had exclusive focus on manufacturing so that acceptability of our products should increase in the world. He also recalled initiatives taken by PM Modi at Vigyan Bhavan, where representatives from 30 countries were also present. The focus was on creating trust building between ‘Industry leaders’ and the Government. ‘Digital India’ was also one such initiative. Another focus was on ‘Skill Upgradation’. 25 sectors were identified where FDI was required to give boost. The PMO also initiated “PRAGATI” ( ie Pro-Active Governance and Timely Action), in order to timely monitor the monthly progress report. He lamented, it took 1420 days in India to enforce a contract whereas, in case of OECD, less than 200 days are required. Finally, he also talked about the“Impact Assessment”. The whole initiative of “Make in India” has changed the perception of the rest of the world. Dr. J.C.Sharma coined “Make in India” as an “Umbrella Programme”. In his view, all programmes converged to “Make in India”. Development of 26 “Smart Cities”, “ATAL Mission”, Developing 5 ‘Industrial Corridors’ and 45 ‘Industrial Clusters’, were part of such massive programme. The session was followed by ‘Question & Answer Session’
At last, the Chairperson of “Special Seminar Series”- Dr. S.K. Dube, expressed “Vote of Thanks”, on behalf of IMSFraternity, to the Director IMS- Prof. J.P.Sharma, ‘Guest of Honour’- Dr.J.C.Sharma, Programme Chairperson-Dr.Tapan Kumar Nayak; HOD-MCA, Dr.Avadhesh Gupta, and to the fellow colleagues from PGDM & MCA. He also thanked the PGDM I Year students for raising issues during “Question Answer Session” and also showing utmost discipline in the auditorium.