Make in India should boost domestic products

​Tanuku: The Editor of The Hans India and HMTV, Prof K Nageshwar, said here on Wednesday that the much touted Make in India initiative should not end up in foreign investors appropriating domestic resources like land, labour and markets.

Delivering the key-note address at the UGC-sponsored two-day national seminar on ‘Make in India: Prospects and Challenges’ organsied by SKSD Mahila Kalasala, Tanuku, he said that multinationals with their monopoly over designs, technology and knowledge were raking billions from markets like India without transferring the knowledge to the domestic economy.

The national movement called for freeing Indian economy from foreign economic control. The Make in India should, therefore lead to enhanced capacity for Made in India products and services rather than a mere foreign penetration into domestic economy.

Illustrating his argument, Prof Nageshwar said that while Apple gets 300 dollars on an average from its each IPhone sales, the FoxConn in Taiwan the contract manufacturer for Apple phones get a meagre seven dollars.

Recalling the statement of former RBI Governor Raghuram Rajan on Make for India, Prof K Nageshwar said that the moral dilemma haunting India is that the goods and services even if produced in India are not accessible to Indians.

India accounts for 48 per cent of total vaccine procurement by UN agencies worldwide while still 35 per cent of India’s children are not yet fully immunised. The country records 21 per cent of global deaths below the age of five, he added.

Dr P Aruna, Principal of the college presided. Prof A Narasimha Rao, Registrar, Adikavi Nannaya University, Rajamahendravaram, also spoke. Dr K Radha Pushpavathi is the convenor of the seminar.