Make in India is a Government of India scheme launched by Prime Minister Narendra Modi in 2014 intended to boost the domestic manufacturing sector and also augment investment into the country. The government wants to revive the lagging manufacturing sector and spur the growth of the economy. The GOI also intends to encourage businesses from abroad into investing in the country and also manufacture here, by improving the country’s ‘Ease of Doing Business’ index. The long-term vision is to gradually develop India into a global manufacturing hub, and also boost employment opportunities in the country.
Make in India is a very important government programme that has under its wing, many other sub-schemes, and programmes. The Make in India logo is a lion. It is a lion’s silhouette filled with cogs. This symbolizes manufacturing, national pride, and strength.
MAKE IN INDIA- OBJECTIVES
There are several targets aimed by the Make in India mission. They are:
Increase in the manufacturing sector’s share in the GDP to 25% by 2022.
Create 100 million additional jobs in the manufacturing sector by 2022.
Creating required skill sets among the urban poor and the rural migrants to foster inclusive growth.
A rise in the domestic value addition and technological depth in the manufacturing sector.
Augmenting the global competitiveness of the Indian manufacturing sector
MAKE IN INDIA- ADVANTAGES
Generating employment opportunities.
When FDI inflows become more, the rupee will be strengthened.
When countries invest in India, they will also bring with them the latest technologies in various fields.
Due to the various initiatives taken under the Mission, India has moved up the ranks in the EoDB index.
Setting up manufacturing centres and factories in rural areas will foster the development of these areas as well.
Increasing the GDP by expanding economic growth.
MAKE IN INDIA- INITIATIVES
For the first time, the sectors of railways, insurance, defense, and medical devices have been opened up for more Foreign Direct Investment (FDI).
There is an Investor Facilitation Cell that assists investors from the time of their arrival in India to their departure from the country. This was created in 2014 for giving services to investors in all phases such as the pre-investment phase, execution, and also after delivery services.
The Shram Suvidha Portal, eBiz portal, etc. have been launched. The eBiz portal offers single-window access to eleven government services connected with starting a business in India.
Other permits and licenses required to start a business have also been relaxed. Reforms are being undertaken in areas like property registration, payment of taxes, getting power connection, enforcing contracts, and resolving insolvency.
The government hopes to improve physical infrastructure chiefly through the PPP mode of investment. Ports and airports have seen increased investment. Dedicated freight corridors are also being developed.
The government has taken steps to improve India’s ‘Ease of Doing Business’ rank. India climbed 23 points in the Ease of Doing Business index to 77th place in 2019, becoming the highest-ranked in South Asia in this index.
MAKE IN INDIA- SCHEMES
STARTUP INDIA
The main idea behind this programme is to build an ecosystem that fosters the growth of startups, driving sustainable economic growth, and creating large-scale employment.
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.
DIGITAL INDIA
This aims to transform India into a knowledge-based and digitally empowered economy. To know more about Digital India, click on the linked page.
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.
MAKE IN INDIA- CHALLENGES
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.
It is also believed that the rapid industrialization can lead to a depletion of natural resources.
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.
The campaign, with all its focus on manufacturing, can cause pollution and environmental side-effects.
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.
Eduindex News 