Make in India completes 8 years
The Indian Government’s Make India initiative has completed eight years.
- The government’s flagship initiative has helped 27 sectors to make significant progress, including manufacturing and services sectors.
- It has doubled the annual foreign direct investment to 83 billion USD. With this, India is expected to attract 100 billion USD in FDI this fiscal. 101 countries have made investments across 31 states and union territories in 57 sectors.
- With this initiative, the Indian manufacturing sector is witnessing an increase in domestic value addition and local sourcing, increased focus on research and development, innovation and sustainability measures.
- The Production Linked Incentive (PLI) schemes were launched under the Make in India initiative across 14 key manufacturing sectors. Under these schemes, incentives are provided to strengthen domestic manufacturing sector, improve resilience of supply chains and make Indian companies more competitive and have export potential.
- The flagship initiative has been complemented with minimising compliance burdens through amendment of laws, liberalization of guidelines and regulations and ensuring ease of doing business in the country.
- The National Single Window System (NSWS) was launched to provide a single digital platform for investors requiring approvals and clearances. This portal has been integrated with existing clearance systems of various government entities. This has boosted investment inflow into the country.
- The PM Gati Shakti Programme has improved the logistical efficiency in the country, enabling an increased access to Indian markets, hubs and job opportunities at a reduced logistical cost.
- The One District One Product initiative, created based on the vision of the Make in India initiative, boosted the production of indigenous products from each district in India, increasing exposure of artisans and manufacturers of handlooms, handicrafts, textiles, agricultural processed products and other products.
About Make in India initiative
The Make in India initiative was launched on September 25, 2014 to make India a global manufacturing hub by promoting investments, innovation, enhanced skill development, intellectual property rights and infrastructure development. It is being implemented by the Department for Promotion of Industry and Internal Trade (DPIIT).
Topics: ‘PM Gati Shakti’ Masterplan • Department for Promotion of Industry & Internal Trade (DPIIT). • digital foreign direct investments • DPIIT • Foreign direct investment • Foreign Direct Investment (FDI) • Make in India • Make in India campaign • Make in India program • National Single Window System • One district one product • One District One Product (ODOP) • One District One Product scheme • production linked incentive • Production Linked Incentive (PLI)
|View All E-Books: Recent Release|