Make in India

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What Is Make In India?

Make in India is a scheme launched by the Government of India to make and encourage manufacturing in the country and also, incentivise dedicated investments into the manufacturing of different products. The policy approach of this scheme was to create an environment that is suitable for investments, develop an efficient and modern infrastructure and open some new sectors for foreign capital. Initially, the target of this scheme is 25 economic sectors for skill enhancement and job creation. This scheme also aimed to transform the country into a global design and manufacturing hub.

Country India
Prime Minister Narendra Modi
Launched on 25th September 2014
Status Active

Make in IndiaWhat Are The Main Objectives Of Make in India?

The three main objectives of the Make in India scheme are mentioned as under:

  • To increase the growth rate of manufacturing sectors to 12-14% per annum
  • To create 100 million additional manufacturing jobs by the year 2022
  • To ensure that the sectors are contributing to GDP and is also increased by 25%, which will later be revised in 2025

After the launch of this scheme, the country gave some investment commitments of around Rs 16.40 lakh crore and investment inquiries worth Rs 1.5 lakh crore between September 2014 to February 2016. India has emerged as one of the top destinations globally in the year 2015 for FDI (Foreign Direct Investment) while surpassing China and United States.

According to the current policy, 100% of the FDI (Foreign Direct Investment) is permitted in all the 100 sectors, except for some sectors such as the Defence industry, Space industry and Media of India. India and Japan have also announced a US $12 billion “Japan-India Make-In-India Special Finance Facility” to push this investment.

Which Sectors Are Focussed Under Make in India?

The Indian Government has identified 25 prime sectors that will initially be focussed under this scheme. The likelihood of direct investment in these sectors is considerably high and it will also be creating new employment opportunities in India. The unemployment rate is high in the country and therefore, to tackle that, this scheme is launched. Global companies will find the markets of India as risk-free destinations with superior manufacturing and democratic conditions.

Following are the 25 sectors that are open to investment under this scheme:

  • Automobiles
  • Food processing
  • IT and BPM
  • Automobile components
  • Renewable energy
  • Roads and highways
  • Aviation
  • Space
  • Leather
  • Media and Entertainment
  • Textile industry
  • Mining
  • Biotechnology
  • Thermal power
  • Chemical industry
  • Oil and gas
  • Tourism & Hospitality
  • Construction
  • Pharmaceutical
  • Wellness
  • Defence manufacturing
  • Electrical machinery
  • Ports
  • Electronic systems
  • Railways

What are the Features Of the Make In India Campaign?

Following are the main features of this campaign:

  • There will be easy availability of natural resources and labour, which will make the country
  • Asia is emerging as an outsourcing hub of the world and thus, India will make a strong foothold in the space.
  • India still needs to amend some of its labour laws in order to get the desired outcomes of this campaign
  • This campaign follows the same principles as of Make in China.
  • Administrative approaches and corruption were the two major problems of the country and were being dealt with in this campaign.
  • This campaign has received more than Rs 200 crore as an investment since its launch.

Make in India FAQs

File:Eo circle green white checkmark.svg - Wikimedia Commons What is the concept of Make in India?

It enhances skill development, protects intellectual property and builds best in class manufacturing.

File:Eo circle green white checkmark.svg - Wikimedia Commons Is Make in India successful?

It is a success as it achieved some of its goals but the pandemic of coronavirus had a bad impact on this scheme.

File:Eo circle green white checkmark.svg - Wikimedia Commons What are the four pillars of Make in India?

The following are the four pillars of Make in India:

  • New infrastructure
  • New processes
  • New sectors
  • New mindset