This weekend thousands of people were in attendance for the opening of a “Make in India” drive, designed to attract foreign direct investment. Prime Minister Narendra Modi described the event and initiative as “the biggest brand that India has ever created.”
According to Daily Mail, Prime Minister Modi’s enthusiasm for the Make in India drive has been criticized by marketing experts and bosses alike. Failure to deliver on the drive’s promises of making India a business hub of the world would be public relations disaster for Modi.
“When you over-communicate and you under-deliver, the biggest risk is that you begin to lost trust,” said Chandramouli Nilakantan, CEO of Blue Lotus Communications, a consultancy for branding and public relations.
While the festival got off to a rocky start in the form of a fire on Sunday, things proceeded swimmingly. The prime ministers of Sweden and Finland were in attendance, as well as 2,500 foreign and 8,000 domestic companies.
Taiwan’s Foxconn has pledged to invest $5 billion in a new electronics manufacturing facility in India.
Foreign direct investment nearly doubled to $59 last year, the seventh highest in the world according to the United Nations Conference on Trade and Development.
However, critics still consider India far behind its purported goals.
The government’s goal for manufacturing jobs by 2022 is 100 million — however, only 4 million have been created since 2010.
Additionally, Professor Ravi Aron, a U.S.-based expert in manufacturing, said India is not equipped for a Chinese-style export boom as a result of its lack of infrastructure and skills.
“It should not be called ‘Make in India’ but ‘Make in Spite of India,'” said Aron.