What is Make in India ?

Make In India:-

The Government of India launches several initiatives to create an environment in a platform which runs the various fields like innovation, design, manufacturing, entrepreneurship etc. The Make in India initiative is one of them, it was launched on 25 September 2014 by Prime Minister Narendra Modi in a function at the Vigyan Bhavan, as part of the Government of India’s renewed focus on invigorating the country’s manufacturing sector.

Make in India campaign is try to attract the foreign investors and also domestic investors to use India’s capital, labour, and resources to manufacture goods in India.

There are 4 major policies under the 'Make in India' program:

1. New Initiatives:

2. Foreign Direct Investment (FDI):

3. Intellectual Property Facts:

4. National Manufacturing:

India want to becoming a manufacturing hub and so it will help India to manufacture goods by own and export it to the rest of the world. This will provide more and more job opportunities in India and the revenue of the country also increases.

Globally, India has emerged as the fastest growing economy with a growth rate of 7.5%. The Prime Minister Narendra Modi focuses on India’s Growth by implementing several innovative initiatives like Digital India, Make in India,100 Smart Cities, Skill India and Start up India.The initiative hopes to attract capital and technological invest in India.

Particularly, the aims of Make in India Initiative is to make India an integral part of the supply chain globally and focus on job creation and skill development in all main 25 sectors such as funds, railways, insurance, construction etc., These sectors have been rapidly opened up for Foreign Direct Investment (FDI).

In august 2014, the Cabinet of India allowed 49% FDI in the defence sector and 100% in railways infrastructure.

Earlier, one Indian company would have held the 51% stake, now, multiple companies could hold the 51% stake.

The Government of India received ₹1.20 lakh crore (US $18 billion) worth of proposals from companies interested in manufacturing electronics in India.

  

  

The aims of Make in India to Focus on the following 25 major sectors:

1.  Automobiles

2.  Automobile Components

3. Aviation

4. Biotechnology

5. Chemicals

6. Constructions

7. Defence Manufacturing

8. Electrical Machinery

9. Electronic Systems

10.  Food Processing

11. IT and Business Process Management

12. Leather

13. Media and Entertainment

14. Mining

15. Oil and Gas

16. Pharmaceuticals

17. Ports and Shipping

18. Railways

19. Renewable Energy

20.  Roads and Highways

21. Space

22. Textiles and Garments

23. Thermal Power

24. Tourism and Hospitality

25. Wellness

The Government of India has given the permission of 100% FDI in all the above sectors, except for Space (74%), Defence (49%) and News Media (26%).

Make in India aims to increase the GDP and Tax revenues in the country. It will also be work on the field of producing quality standard products and minimizing the impact on the environment.

According to Make in India programmes their other aims are in fostering innovation, protecting intellectual property and enhancing skill development.



Make in India already impact with following results:

1. India is now 1st amongst the world’s fastest growing economies (Source:             International Monetary Fund)

2. India is 1st amongst the world’s topmost green field FDI destinations, January-        June 2015 (Source: Financial Times, FDI Markets)

3. India is 1st amongst the 100 Countries in the growth, innovation and leadership index. (Source: Frost & Sullivan)

4. India is 1st amongst the world’s fastest growing economies in both 2016-2017. (Source: WESP Report 2016, United Nations)

5. India is the 1st choice for technological MNCs to set up R&D centers outside their home countries. (Source: Zinnow Management Consulting Report)

6. India is the 7th most valued nation brand in the world. (Source: Brand Finance)

7. India is 1st amongst the world’s most attractive investment destinations. (Ernst & Young – 2015 India Attractiveness Survey)

 8. India is now 1st amongst 110 investment destinations polled globally. (Foreign Policy Magazine, Baseline Profitability Index, 2015)

9. India is amongst the top 10 investment destinations. (Source: World  

Investment Report 2015, UNCTAD)

10. India’s rank jumped 12 places on the ‘Ease of Doing Business’ 2016 list. (Source: World Bank)

11. India moved 16 places on the Global Competitiveness Index 2015-16. (Source: World Economic Forum)

12. India has recorded 35% Growth in FDI Equity Inflows. (Source: Department of Industrial Policy & Research)