Author(s):
Digvijay Singh, Anju Singh, Adarsh Patel
Email(s):
dvsingh036@gmail.com , dr.anjusinghaadya@gmail.com , pateladarsh19@gmail.com
DOI:
10.52711/2321-5828.2024.00042 
Address:
Digvijay Singh1*, Anju Singh2, Adarsh Patel3
1Assistant Professor of Economics, Department of Economics, Maharaja Bijli Pasi Government Postgraduate College, Ashiana, Lucknow, UP, India, 226012.
2Professor of Economics, Department of Economics, Maharaja Bijli Pasi Government Postgraduate College, Ashiana, Lucknow, UP, India, 226012.
3Research Scholar, Department of Economics, University of Lucknow, Lucknow, UP, India, 226007.
*Corresponding Author
Published In:
Volume - 15,
Issue - 4,
Year - 2024
ABSTRACT:
This paper attempts to analyse the trend of FDI inflows to India before and after the implementation of the Make in India Campaign. The research paper investigates the impact of the “Make in India” campaign on Foreign Direct Investment (FDI) inflows, comparing periods before and after its launch in September 2014. The initiative aimed to transform India into a global manufacturing hub by encouraging domestic and international companies to produce goods in India. Using data from the World Development Indicators and Reserve Bank of India, the study analyses FDI trends and finds a significant increase in absolute FDI inflows post-campaign. This surge is attributed to the removal of FDI barriers, improved ease of doing business, and targeted efforts to attract foreign investments, with key sectors like automobiles, aviation, biotechnology, defence, media, thermal power, oil, gas, and manufacturing seeing substantial growth. However, the study also notes that while absolute FDI inflows have risen, FDI as a percentage of GDP has declined, indicating that FDI growth has not kept pace with the overall economic expansion. The paper explores reasons for this discrepancy, such as rapid GDP growth outstripping FDI growth and the need for further policy adjustments. The paper concludes with suggestions such as, continuous policy reforms and targeted strategies are essential to maximize FDI benefits and support India’s long-term economic growth.
Cite this article:
Digvijay Singh, Anju Singh, Adarsh Patel. Foreign Direct Investment flow in India: Analysing the Influence of Make in India Campaign. Research Journal of Humanities and Social Sciences. 2024;15(4):277-2. doi: 10.52711/2321-5828.2024.00042
Cite(Electronic):
Digvijay Singh, Anju Singh, Adarsh Patel. Foreign Direct Investment flow in India: Analysing the Influence of Make in India Campaign. Research Journal of Humanities and Social Sciences. 2024;15(4):277-2. doi: 10.52711/2321-5828.2024.00042 Available on: https://rjhssonline.com/AbstractView.aspx?PID=2024-15-4-4
REFERENCES:
1. Agarwal, S. Challenges to FDI in India’s manufacturing sector: A post-Make in India analysis. Journal of Economic Policy Studies. 2020; 25(4): 345–362.
2. Babu, V. S., and Vinitha, R. FDI and make in India. International Journal of Recent Technology and Engineering. 2019.
3. Banerji, P. Impact of Make in India launch on FDI. IOSR Journal of Business and Management. 2017: 25–35.
4. Basu, K. Has Make in India failed to attract FDI into manufacturing? Indian Economic Review. 2021; 36(2): 98–115.
5. Gaur, A. D., and Padiya, J. Exploring ‘Make in India’Campaign and Emerging FDI trends in IT and BPM Sector in India. Journal of Business Sciences. 2017; 1(2): 42–57.
6. Govindan, P. A Study on Growth of Foreign Direct Investments (FDI) Inflows in India and Impacts of Make in India Campaign-An Overview. International Journal of Humanities and Social Science. 2019; 7(4): 154–181.
7. Manchanda, P., and Gaur, R. A study on impact of ‘Make in India’initiative on FDI inflows in India. Int J Bus Manag Sci Res. 2016; 17: 28–34.
8. Mandal, P. K. Make in India and Recent Trend of FDI Inflow. International Journal of Commerce, Business and Management. 2016; 5(1): 172–176.
9. Nagarjuna, B. The Impact of Make in India on Foreign Direct Investment: An Analytical Study. Small Enterprises Development, Management and Extension Journal. 2022; 49(1): 7–29.
10. Singh, R. FDI inflows into India: A comparative analysis with BRICS economies. International Journal of Economics and Finance. 2019a; 34(3): 215–230.
11. Singh, R. FDI inflows into India: A comparative analysis with BRICS economies. International Journal of Economics and Finance. 2019b; 34(3): 215–230.
12. Srivastava, R. Impact of “Make in India” in Indian economy. International Journal of Trend in Scientific Research and Development. 2019; 3(3): 429–432.
13. Udandrao, C. M. A., and Kuchibhotla, R. Make in India and Foreign Direct Investment (FDI)-A Realism Towards India’s Manufacturing Hub. 2016. Available at SSRN 2989699.