Finance Expert Calls ‘Make in India’ a Failure, Urges Focus on Skilled Workforce
Finance expert and founder of Wisdom Hatch, Akshat Shrivastava, has criticized the Make in India initiative, calling it a marketing campaign with little real impact. In a post on X, he highlighted the lack of a skilled workforce as a major challenge to India’s economic growth.
Shrivastava compared India’s progress with Vietnam, which has successfully attracted businesses over the last decade. He pointed out that many Indian engineers from lesser-known colleges often switch careers, and over 50% of the workforce is engaged in agriculture with minimal training, leading to low productivity.
I live in a community in Dubai: my security guard is from UP. My electrician and plumbers are from Bangladesh. The gorcery store near me has entire Nepali staff.
— Akshat Shrivastava (@Akshat_World) February 12, 2025
Almost all of them earn anywhere between 2500-4000 AED.
Spend time with such people, they will tell you their… https://t.co/1Mka9d9o2i
He argued that India cannot compete with economic giants like the US and China in a trade war. “There is no way we will win a trade war with them. Cutting duty on Harley Davidson is just the beginning,” he said, emphasizing the need for better workforce training.
As a solution, he suggested training at least 20% of agricultural workers in skills like carpentry, plumbing, and security services. He believes such practical efforts don’t receive enough attention compared to large-scale campaigns.
Sharing his personal experience, Shrivastava mentioned meeting security guards, electricians, and plumbers in Dubai earning 2,500 to 4,000 AED per month. He criticized policymakers for being disconnected from real-world job challenges.
He also shared that he launched 10 Airbnbs in Goa, providing employment for at least 20 people. He claimed that if such efforts were supported nationwide, he could create 5 lakh jobs in a year at no cost.
