News & Blog

The “Make In India” Initiative

News & Blog

The “Make In India” Initiative

The government of India took a massive step forward in the manufacturing sector of the country by launching the Make in India initiative. The launch date of this unique initiative was the 25th of September 2014. The basic objective of this was

  1. Skill enhancement
  2. Job creation
  3. Making India a global manufacturing hub

In 2013 when India witnessed the lowest growth rate in a decade and global investors were busy debating about India as the biggest democracy being too big to succeed Make in India was launched. It appeared as a powerful potential for all citizens, investors, and partners around the world in situations of financial distress. The difficult part was not to launch this massive initiative but was to advertise about it in the right and most effective manner. The campaign was meant to be more informative, well packaged, and most important of all credible to the entire manufacturing business around the globe. It was proposed to the world as a bouquet of 25 industry sectors to function in harmony. The projection was made to

  1. Build a more confident relationship amongst the potential partners around the world markets and Indian capabilities
  2. Provide an ocean of information about 25 industry sectors in the most technically sound manner
  3. Reaching out to the world and keeping them constantly updated about reforms and opportunities to bring in more business and investments

The sectors covered under this initiative are:

  • Wellness                 
  • Tourism & Hospitality
  • Thermal power
  • Space & Astronomy
  • Roads & highways
  • Textiles & garments
  • Renewable Energy
  • Railways
  • Ports & Shipping
  • Pharmaceuticals
  • Oil & Gas
  • Mining
  • Petrochemicals
  • Exports
  • Media & Entertainment
  • Leather
  • IT and BPM
  • Food Processing
  • Electronic Systems
  • Electrical Machinery
  • Defense manufacturing
  • Construction
  • Chemicals
  • Biotechnology
  • Aviation
  • Automobile
  • Automobile components
  • Healthcare  

Projects announced under the this Initiative

With the basic objective of creating job opportunities, it attracted many foreign projects to India. Some of the prominent projects announced under the make in India initiative are

  1. Automobile giant General Motors announced a USD 1 Billion investment in a manufacturing unit in the state of Maharashtra
  2. KIA motors announced a manufacturing unit in Andhra Pradesh with an investment of USD 1.1 Billion
  3. Hitachi announced an auto component unit in Chennai
  4. Lockheed Martin has been in conversation over deals with manufacturing F-16 in Indian for the Indian Air forces
  5. Huawei has come up with a new R&D complex with investments of USD 170 million
  6. ARAMCO is one of the biggest players in oil from Saudi Arabia signed an initial deal with a consortium of refineries in India worth USD 44 Billion
  7. Avada power and ReNew Power have announced solar projects worth USD 1.4 billion and USD 1.1 billion respectively in Uttar Pradesh
  8. Columbia Asia announced a massive investment in the healthcare sector worth USD 60 million to expand its roots the country
  9. Lenovo has announced the manufacturing of Lenovo and Motorola smartphones in India
  10. general electric and Alstom transport a joint venture agreement with the Indian railways was announced by the two companies for setting up locomotive factories in Bihar with an estimated investment of Rs 40,000 Cr

These are a few of the enormous list of projects which have been announced under this initiative in India. This initiative has projected the image of the country in the most credible light ever in the international market.

Progress under Make in India Initiative

Achievements noted under the Make in India Initiative after the launch have been categorized under the following headers

  1. FDI

FDI or the Foreign Direct Investment has seen steady growth after the launch of the initiative. The FDI inflow stood highest ever recorded for a fiscal year at USD 60 billion in the FY 2016-17. Major sectors that have opened up for FDI are

  • Telecommunication
  • Agriculture
  • Civil aviation
  • Space
  • Private security agency
  • Railways
  • Defense manufacturing units
  • Insurance and pensions
  1. Ease of Doing Business

The government has made major reforms and taken steps to ring ease of doing business for foreign partners. India took a major jump and reached 30 places ahead than its old placement in World Bank’s ease of doing business ranking

  1. Sector-based achievements

Significant achievements have been observed in various sectors covered under the make in India initiative

Although the government has faced criticism about the achievements made under the make in India’s initiative yet to date quite a few noticeable achievements have been observed. The country has received investment proposals of approximately Rs 2000 Cr within a very short span of launch.

FAQs

What are the objectives of the Make in India initiative?

The basic objective of this was

  1. Skill enhancement
  2. Job creation
  3. Making India a global manufacturing hub

When was the Make in India launched?

The honorable Prime Minister of India Mr. Narendra Modi launched the Make in India Initiative on the 25th of September 2014.

Why was it made in India needed?

In 2013 when India witnessed the lowest growth rate in a decade and global investors were busy debating about India as the biggest democracy being too big to succeed Make in India was launched

What are the sectors included in the Make in India Initiative?

The sectors covered in the make in India Initiative are

Ø Wellness                 

Ø Tourism & Hospitality

Ø Thermal power

Ø Space & Astronomy

Ø Roads & highways

Ø Textiles & garments

Ø Renewable Energy

Ø Railways

Ø Ports & Shipping

Ø Pharmaceuticals

Ø Oil & Gas

Ø Mining

Ø Petrochemicals

Ø Exports

Ø Media & Entertainment

Ø Leather

Ø IT and BPM

Ø Food Processing

Ø Electronic Systems

Ø Electrical Machinery

Ø Defence manufacturing

Ø Construction

Ø Chemicals

Ø Biotechnology

Ø Aviation

Ø Automobile

Ø Automobile components

Ø Healthcare

Registrationseva.com can help in all kinds of Registration in very less time and at an affordable price. You can reach us at info@registrationseva.com or post your query here.

Leave a Reply

Your email address will not be published. Required fields are marked *

We take processes apart, rethink, rebuild, and deliver them back working smarter than ever before.