Sign up today and be a part of the fastest growing B2B platform
The Prime Minister introduced the Make in India programme in September 2014 as part of a broader set of nation-building efforts. Make in India was conceived as a timely solution to transform India into a global design and manufacturing hub.
Make in India is a global advertising campaign tagline created by Indian Prime Minister, Narendra Modi, to encourage businesses to produce and invest in India. The programme focuses on creating jobs, enforcing regulations in the tertiary and secondary sectors, growing the national economy, making India self-sufficient, and ensuring that the Indian economy is known internationally.
What Objectives Are In Focus By Make In India Campaign?
To make India a global design and manufacturing centre.
To launch new measures aimed at attracting foreign direct investment.
To put intellectual property rights into effect.
To expand the manufacturing sector of the country.
To encourage investors and manufacturers to construct and invest in India.
To raise India's ranking in the World Bank's Ease of Doing Business Index.
To reduce the annoyances of laws and regulations in the corporate bureaucracy.
To encourage employee development and innovation within the country's borders.
To make government operations more transparent and accountable.
To promote skill development opportunities.
To boost India's industrial sector's global competitiveness.
To encourage long-term growth.
What Are The Pillars Of the Make In India Scheme?
The Make In India initiative focuses on the following four pillars:
NEW MINDSET- Promoting a fundamental change through which the government interacts with the private sector.
NEW SECTORS- Proposal to encourage the growth of 25 industries.
NEW INFRASTRUCTURE- These infrastructures include improving innovation and research, industrial corridors and smart cities with cutting-edge technology and high-speed connectivity. A fascinating and much-needed aspect of this project is the training of competent workers and the prompt registration of businesses.
NEW PROCESSES- One of the scheme's primary characteristics has been to adopt the reforms which will attract Foreign Direct Investment and update the old company legislation.
Schemes Of Make In India
SKILL INDIA- This project intends to train 10 million people in India each year in various fields. For Make in India to become a reality, the human resource pool must initiate a step up. It is significant because India's formally skilled workforce accounts for barely 2% of the population.
STARTUP INDIA- The fundamental goal of the initiative is to create an ecosystem that encourages the growth of startups while also driving long-term economic growth and producing large-scale jobs.
DIGITAL INDIA- India is on the way to getting transformed into a knowledge-based and digitally-enabled economy as a result of this initiative.
PRADHAN MANTRI JAN DHAN YOJANA- Financial inclusion is talked about in this scheme by ensuring affordable access to financial services such as banking savings and deposit accounts, remittances, credit, insurance, and pensions.
SMART CITIES- This project strives to transform Indian cities. Through many sub-initiatives, the goal is to build 100 smart cities in India.
AMRUT- AMRUT stands for Atal Mission for Rejuvenation and Urban Transformation. It aspires to improve 500 Indian cities by providing public services and making them more livable and inclusive.
SWACHH BHARAT ABHIYAN- This scheme aims to make India cleaner and more sanitary by promoting basic sanitation and hygiene.
SAGARMALA- The goal is to expand ports and promote port-led growth in India.
INTERNATIONAL SOLAR ALLIANCE- The ISA is a group of 121 countries, which are mainly sun-drenched and lie entirely or partially between the Tropics of Cancer and Capricorn. It focuses on boosting solar technology research and development. It also talks about the development of regulations in this area.
AGNII- AGNII, or Accelerating Growth of New India's Innovation, was established to promote the country's innovation ecosystem by bringing individuals together and assisting in commercial ideas.
Modi's I-Day appeal for Atmanirbhar Bharat: 'Need to Make in India to Make for the World'
Prime Minister Narendra Modi urged Indians to work toward creating an "Atma Nirbhar" Bharat, or self-sufficient India, by lowering the country's import bill and consuming more local goods. He also emphasized the necessity for India to go forward in the twenty-first century with new methods and habits, stating that "being ordinary" will no longer suffice.
In the aftermath of the Covid-19 outbreak, the Modi government established the concept of Atmanirbhar Bharat. The Rs 21 lakh crore economic package launched in May included some initiatives which aimed to achieve the government's goal of a self-sufficient India. Three main agricultural reforms were proposed, including helping farmers get the best price for their produce and allowing commercial coal mining without the end-use limitations.
So far, the government has made some initiatives to lessen reliance on imports. Import limitations on 101 defense-related commodities, as well as curbs on television imports, are among them.
In the case of China, the government has moved investments by Chinese companies into India from an automatic path to one requiring government approval. It also imposes restrictions on government purchases from Chinese firms.