The document provides an introduction to the Make in India initiative launched in 2014 to transform India into a global manufacturing hub. It outlines the objectives to increase jobs, GDP growth, and FDI. Key sectors and progress are discussed, along with supporting schemes like Skill India, Startup India, and Digital India. Challenges and achievements of the initiative are also highlighted.
The document provides an introduction to the Make in India initiative launched in 2014 to transform India into a global manufacturing hub. It outlines the objectives to increase jobs, GDP growth, and FDI. Key sectors and progress are discussed, along with supporting schemes like Skill India, Startup India, and Digital India. Challenges and achievements of the initiative are also highlighted.
The document provides an introduction to the Make in India initiative launched in 2014 to transform India into a global manufacturing hub. It outlines the objectives to increase jobs, GDP growth, and FDI. Key sectors and progress are discussed, along with supporting schemes like Skill India, Startup India, and Digital India. Challenges and achievements of the initiative are also highlighted.
The document provides an introduction to the Make in India initiative launched in 2014 to transform India into a global manufacturing hub. It outlines the objectives to increase jobs, GDP growth, and FDI. Key sectors and progress are discussed, along with supporting schemes like Skill India, Startup India, and Digital India. Challenges and achievements of the initiative are also highlighted.
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Introduction to make in India
• Devised to transform India into a global innovation and manufacturing hub, GoI launched ‘Make In India’ program in September 2014. DBT recognizes the necessity for entrepreneurship development among the youth in the country and hence has taken initiatives to build, support and promote Indian biotech ecosystem in healthcare, agriculture and industrial biotechnology by delegating responsibility to its Public Sector Enterprise, Biotechnology Industry Research Assistance Council (BIRAC) to establish a Make in India Facilitation Cell for Biotechnology Sector in 2016 with the following mandate: • Facilitating Investments • Fostering Innovations • Protecting Intellectual Property • Building best in class infrastructure • Ease of doing Business • Providing Employment in Manufacturing Sector • State Partnerships to Expand Biotech Innovation Ecosystem • Create Global Start-ups Connect • Objectives of make in India Increase in job opportunities: as the foreign firms comes in India and set up factories and plants they create job opportunities, which is very essential in today's scenarios as the job demand is very low in our country as compared to the millions of students graduating every year.It will lead to the creation of many job opportunities. Around ten million people are expected to get jobs. An increase in investment will bring employment opportunities for the skilled labor force and this will form a job market • Growth in GDP and Economy: as these companies set up factories, offices and plants in India and starts producing goods or other services a huge part of the revenue generated in this process would go on to the government as tax also an increase in exports will improve the economy and India will be transformed into a global hub of manufacturing through global investment using the current technology. Manufacturing will also boost India’s economic growth and GDP. • Attract More Foreign Direct Investment (FDI):- It will welcome more FDI. Since the government had promised to improve the ease of running businesses in India, it is going to attract many FDI. At the moment it has already received an amount of INR 20 K million from a proposal that was made on October 2014. • Investment In India:- Through Make In India Project more companies are looking to set up factories, a unit known as “Invest India” is in the process of being put to place. This unit will be under the department of commerce and will be available any time to make it easy to carry out regulatory clearance within the shortest time possible ensuring that businesses are run in India easily. Sectors under make in India
2 5 secto rs co me u nd er th e in iti ativ e of mak e in ind ia
Make in India schemes •Skill India •This mission aims to skill 10 million in India annually in various sectors. Make in India to turn into a reality, there is a need to upskill the large human resource available. This is important because the percentage of formally skilled workforce in India is only 2% of the population. •Startup India •The main idea behind this program is to build an ecosystem that fosters the growth of startups, driving sustainable economic growth, and creating large-scale employment. •Digital India •This aims to transform India into a knowledge-based and digitally empowered economy. •Pradhan Mantri Jan Dhan Yojana (PMJDY) •The mission envisages financial inclusion to ensure access to financial services, namely banking savings & deposit accounts, remittances, credit, insurance, pension in an affordable manner. •Smart Cities •This mission aims to transform and rejuvenate Indian cities. The goal is to create 100 smart cities in India through several sub-initiatives. •AMRUT •AMRUT is the Atal Mission for Rejuvenation and Urban Transformation. It aims to build basic public amenities and make 500 cities in India more livable and inclusive. •Swachh Bharat Abhiyan •This is a mission aimed at making India more cleaner and promoting basic sanitation and hygiene. • Sagarmala • This scheme aims at developing ports and promoting port-led development in the country. • International Solar Alliance (ISA) • The ISA is an alliance of 121 countries, most of them being sunshine countries, which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn. This is India’s initiative aimed at promoting research and development in solar technologies and formulating policies in that regard. • AGNII • AGNII or Accelerating Growth of New India’s Innovation was launched to push the innovation ecosystem in the country by connecting people and assisting in commercializing innovations. Make in India - Progress • There have been several milestones attributed to the Make in India scheme. Some of the prominent ones are listed below: 1. The introduction of the Goods and Services Tax (GST) has eased the tax procedural system for businesses. The GST has been a fillip to the Make in India campaign. 2. Digitization in the country has gained momentum. Taxation, company incorporation, and many other processes have been made online easing the overall process and improving efficiency. This has upped India’s rank in the EoDB index. 3. The new insolvency code namely, the Insolvency and Bankruptcy Code 2016 integrated all laws and rules relating to insolvency into a single legislation. This has taken the bankruptcy code of India on par with global standards. 4. Due to schemes of financial inclusion such as the PMJDY, as of May 2019, 356 million new bank accounts were opened. 5. FDI liberalization has helped India’s EoDB index to be favorable. Larger FDI inflows will create jobs, income, and investments. 6. Infrastructure and connectivity have received major push through schemes like Bharatmala and Sagarmala, as well as various railway infrastructure development schemes. 7. BharatNet – this is a telecom infrastructure provider set up by the GOI to enhance digital networks in the rural areas of the country. This is perhaps the world’s largest rural broadband project. 8. India is ranked four in the world in terms of its capacity to harness power from winds and ranked number 6 in the world in harnessing solar power. Overall, India is ranked fifth in the world in installed renewable energy capacity. Make in India-advantages 1. Generating employment opportunities. 2. Increasing the GDP by expanding economic growth. 3. When FDI inflows become more, the rupee will be strengthened. 4. Small manufacturers will get a thrust, particularly when investors from abroad invest in them. 5. When countries invest in India, they will also bring with them the latest technologies in various fields. 6. Due to the various initiatives taken under the Mission, India has moved up the ranks in the EoDB index. 7. Setting up manufacturing centers and factories in rural areas will foster the development of these areas as well. Make in India-challenges • Even though the campaign has seen success in some quarters, there have been criticisms as well. There are also many challenges facing the country if she is to achieve the lofty targets set by the establishment. Some of the criticisms are laid out below.
1.India has about 60% of cultivable land. The thrust on manufacturing is said to affect agriculture negatively. It can even cause a permanent disruption of arable land. 2.It is also believed that the rapid industrialization (even with the thrust on “going green”) can lead to a depletion of natural resources. 3.A fallout of inviting large-scale FDI is that local farmers and small entrepreneurs may not be able to face the competition from international players. 4.The campaign, with all its focus on manufacturing, can cause pollution and environmental side-effects. 5.There are serious lacunae in the physical infrastructure facilities in the country. For the campaign to be successful, it is necessary to build up the infrastructure available in the country and also reduce problems like corruption at the lowest levels. Here, India can take lessons from China, which has dramatically improved its share of global manufacturing from 2.6% in the 1990s to 24.9% in 2013. China rapidly developed its physical infrastructure like railways, roadways, power, airports, etc. Make in India – Achievements • With the launch of Make in India, rules and policies are simplified. Now it is much easier to start a company in India. That means Red tapism is reduced.
• Ease of doing business in India is increased. India now ranks 130th out of 190 countries in the World Bank’s 2016 ease of doing business index.
• Make in India program attracted Foreign Direct Investment (FDI) to India.
• This program made India, one of the preferred manufacturing hubs.
• It created new employment opportunities.
• There is a boom of startups in India after launching Make in India.
• Several foreign companies started their manufacturing units in India.
• India is aiming zero electronic imports by 2020, by making India as a electronic manufacturing hub, which is a part of ‘Make in India’ program.
