Make in India is an initiative launched by the Government of
India in September 2014, with the aim of encouraging both multinational and
domestic companies to manufacture their products in India. The initiative
focuses on creating a favorable business environment, building modern
infrastructure, and promoting skill development in India, to make it a global
manufacturing hub.
1. New Processes: The government is working on simplifying
the regulatory environment and providing a more business-friendly environment
to make it easier for companies to start and operate businesses in India.
2. Infrastructure Development: The government is investing
heavily in infrastructure development, including building new roads, airports,
ports, and industrial corridors to support manufacturing.
3. Skilling: The initiative aims to train and upskill Indian
workers to improve their employability and increase productivity in the
manufacturing sector.
4. Innovation and R&D: The government is promoting
innovation and research and development in the manufacturing sector to
encourage the creation of new products and technologies.
5. Sector-specific Strategies: The initiative includes
sector-specific strategies to promote manufacturing in areas such as
automobiles, aviation, biotechnology, chemicals, construction, defense
manufacturing, electronics, food processing, IT and BPM, leather, media and
entertainment, mining, oil and gas, pharmaceuticals, ports, railways, renewable
energy, roads and highways, textiles, tourism and hospitality, and wellness.
The Make in India initiative has been successful in
attracting investment and generating employment in the manufacturing sector.
The initiative has also helped in improving the ease of doing business in
India, making it more attractive for companies to invest and manufacture in
India.
some additional information on the Make in India initiative:
1. Objectives: The main objectives of the Make in India
initiative are to increase manufacturing's contribution to India's GDP from 16%
to 25% and to create 100 million additional jobs in the manufacturing sector by
2022.
2. Target Sectors: The initiative has identified 25 sectors
where India has a competitive advantage or significant potential for growth,
and these sectors are being promoted through various incentives and policy
measures.
3. Foreign Direct Investment (FDI): The initiative has
significantly increased India's FDI inflows, with FDI in manufacturing reaching
a record high of $83.5 billion in the fiscal year 2020-21.
4. Ease of Doing Business: India has made significant
improvements in its ease of doing business rankings, moving from 142nd in 2014
to 63rd in 2019, according to the World Bank.
5. Make in India Week: In February 2016, the government
hosted the Make in India Week in Mumbai, which was a major event aimed at
showcasing India's manufacturing capabilities to the world and attracting
investment.
6. Success Stories: Several companies have announced
significant investments in India under the Make in India initiative, including
Samsung, Apple, Foxconn, and Amazon.
7. Challenges: Despite the successes, the Make in India
initiative faces several challenges, including the need for significant
improvements in infrastructure, a skilled workforce, and a more
business-friendly regulatory environment.
8. Digital India: The Make in India initiative is closely
linked to the Digital India program, which aims to transform India into a
digitally empowered society and knowledge economy. Digital technologies such as
artificial intelligence, the internet of things, and blockchain are expected to
play a significant role in the growth of the manufacturing sector in India.
9. Skill India: The Skill India program is a key component
of the Make in India initiative, as it aims to develop a skilled workforce that
can meet the needs of the manufacturing industry. The program provides training
and certification in a variety of skills, including technical and soft skills.
10. Make in India 2.0: In February 2019, the government
launched Make in India 2.0, which focuses on promoting innovation and
entrepreneurship in the manufacturing sector. The initiative aims to increase
India's share of global exports and create jobs in emerging sectors such as
electric vehicles, renewable energy, and defense manufacturing.
11. Start-up India: The Start-up India initiative, launched
in January 2016, is also closely linked to the Make in India program. The
initiative aims to create a favorable ecosystem for start-ups in India and
promote innovation and entrepreneurship. Start-ups are expected to play a
significant role in driving growth in the manufacturing sector in India.
12. State-level initiatives: Several states in India have
launched their own initiatives to promote manufacturing, including Maharashtra
Industrial Development Corporation, Gujarat Industrial Policy, and Tamil Nadu
Vision 2023. These initiatives are aimed at creating a business-friendly
environment and promoting investment in the manufacturing sector.
Overall, the Make in India initiative is an ambitious
program aimed at transforming India into a global manufacturing hub and
creating a more prosperous future for the country, the Make in India initiative
is a multi-pronged program aimed at transforming India into a global
manufacturing hub. The initiative is closely linked to other programs such as
Digital India, Skill India, and Start-up India, and is expected to create
significant employment opportunities and drive economic growth in the country.
