- Achievements:
- Significant achievements since its launch in Sept. 2014.
- Successful manufacturing of railway coaches, defence products (Tejas).
- Growth in mobile phone manufacturing (Samsung factory).
- India set to become world’s 3rd largest auto market by 2021.
- Establishment of Defence Industrial Corridors.
- Shortcomings (Challenges Faced):
- Low labor productivity and insufficient skills.
- Investment from shell companies (suspected black money).
- Small size of industrial units, hindering economies of scale.
- Complicated labor laws.
- Lack of adequate transportation infrastructure.
- Costly electricity.
- Delays in land acquisition.
- Risk of focusing on export-led strategy (less effective now).
- Risk of import substitution through tariff barriers (inefficient).