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All you should know about Make In India.

Tags: india
"MAKE IN INDIA" – Almost everyone has heard about this wonderful and most innovative initiative by our very own prime minister – Mr. Narendra Modi. I’m very much touched by his vision to make India manufacturing hub and ready to compete other countries. I am seeing great future ahead for India with the help of Make In India campaign. Let’s understand Make In India initiative and be the part of it.

Make in India is an initiative launched by the Government of India to encourage multi-national, as well as national companies to manufacture their products in India. It was launched by Prime Minister Narendra Modi on 25 September 2014. The major objective behind the initiative is to focus on job creation and skill enhancement in 25 sectors of the economy. The initiative also aims at high quality standards and minimising the impact on the environment. The initiative hopes to attract capital and technological investment in India.

In order to allow manufacturing in India and to increase the job opportunities, there are some improved steps taken in Make In India e.g. Ease of doing Business, more FDI (foreign direct investments), increasing manufacturing in electronics etc. India has shown significant growth in electronics manufacturing and now government is targeting 0 percent import of electronics. 

Make In India is not limited to manufacturing but also focusing on quality by following “Zero defect zero effect” rule. Very soon India could be electronic hub competing China. Below are some of the positive movements in India because of Make In India initiative.

Now entrepreneurs can make their dreams come true because doing business in India has become easy (Read What's there for Entrepreneurs in Make In India for more detail). Some of the physical work has become totally online and long and complicated processes has become short and easy. I would recommend to visit: know the revolution in current process of starting a business.

India ranks 130th out of 189 countries in the World Bank's 2016 ease of doing business index, covering the period from June 2014 and June 2015. India was ranked 134th in the 2015 index.
A survey of 17 Indian cities in the World Bank's Doing Business in India 2009 report ranked Ludhiana, Hyderabad, Bhubaneshwar, Gurgaon, and Ahmedabad as the top five easiest cities to do business in India.

Make in India focuses on the following twenty-five sectors of the economy:

Automobile Components
Defense manufacturing
Electrical Machinery
Electronic systems
Food Processing
Information Technology and Business process management
Media and Entertainment
Oil and Gas
Ports and Shipping
Renewable Energy
Roads and Highways
Space and astronomy
Textiles and Garments
Thermal Power
Tourism and Hospitality

100% FDI is permitted in all the above sectors, except for space (74%), defense (49%) and news media (26%).

Since the launch of Make in India in September 2014 to March 2016, cumulative FDI inflows of USD 79.1 billion has been received along with a cumulative amount of equity inflows of USD 56.5 billion, representing about a 45% increase over the same corresponding period.

“Come make in India. Sell anywhere, [but] make in India.” Prime Minister Narendra Modi said while introducing his vision to the public. And it seems that the world is more than ready to embrace this vision, which is already set on a path to become a reality.Now we are heading towards excellence and growth and others countries are following our steps. It’s a proud moment for India and it’s our time.

As we all know that India is rich in natural resource and hub of skilled and talented labours. With Asia developing as the outsourcing hub of the world, India is soon becoming the preferred manufacturing destination of most investors across the globe. Make in India is the Indian government's effort to harness this demand and boost the Indian economy. This all are the plus side of the campaign but traditional government work style (taking bribe, delaying some of physical work etc) will always be challenge and we hope that government will surely overcome on this as well.

This is summary of the make in India however if you want to know everything, you can Click here

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And Yes! Let’s Make In India. 

This post first appeared on Buzz Analysis, please read the originial post: here

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All you should know about Make In India.


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