Potential based ranking of sectors identified in ‘Make in India’ initiative using fuzzy AHP: the academicians’ and industry professionals’ perspective

Abstract

The COVID-19 pandemic is creating economic disruption worldwide affecting the global supply chains. India has to move ahead in these testing times with a focus on improving internal supply chains in particular. Indian service sector has been a major contributor to GDP share. But despite a huge talent pool of educated and skilled workforce, the country lags in manufacturing. The Indian government has its initiative of ‘Make in India’ with objectives of investments leading to job creation and GDP growth in twenty-five manufacturing sectors. The response to this initiative has been slow as the country has to cope up with political, economic, social, technological, legal, and environmental challenges. The pandemic outbreak is proving to be an additional hindrance. The authors feel that the ranking of the twenty-five sectors based on potentials will be an added advantage to the investors. In this paper, the authors have used the technique of the Fuzzy AHP to rank the identified sectors based on the potentials. The results are compared with the superstar sectors proposed by the Government. As seen in the past, most of the research is carried out by academicians, and decision making is based on inputs of academicians and/or industry professionals. The authors have analyzed the perspectives of academicians and industry professionals in this paper to address the gap in decision making.