To promote in-house manufacturing in India and to woo more and more foreign investment within the domestic market, the central govt. launched an initiative which is known as as ‘Make in India’. the most force to bring this initiative and implement is none aside from the Hon’ble Prime Minister of the state , Shree Narendra Modi. After coming to power in May 2014, the Indian PM launched this policy on September, 2014. the most aim of the initiative was to replenish the degrading Indian economy which touched very low level within the previous year 2013. This policy was brought into action to form India one among the worldwide forces within the international market and to make a producing hub within the state .
Aim of the Make in India policy
As the country’s GDP was at rock bottom level in recent years, when the UPA govt. left from power, it had been time to require some major initiatives to cope up with things and convey country’s economy back to normal. The Make in India scheme aims to grow the domestic manufacturing altogether sectors in order that the national GDP gets its deserved equilibrium. On a mean , about 15 per cent of the country’s GDP is contributed by the domestic manufacturing. The vision of this scheme was to extend this rate to 25 per cent over subsequent few years. this may also generate new employment opportunities, put India forward within the international market and can also boost the FDI.
Make in India’s grand launch
This policy by the Modi govt. had a grand launch on September, 2014 during a program at the Vigyan Bhawan. CEOs of all leading companies like Tata, Aditya Birla, Wipro, Aditya Birla, ITC, etc. and top entrepreneurs from all across the world were invited during the launch ceremony. it had been reported that quite 3,000 companies from around thirty foreign countries sent their CEOs at the launch of Make in India. PM Narendra Modi who returned from his US trip which was applauded globally headed the launch ceremony of this initiative within the country capital.
Basic working strategy of the initiative
After the autumn of Indian economy, it had been clock time to bring it back on target and recover the damage already done. So with this initiative, the Modi Government’s first working plan was to project India as a really potential market in international business. this may provide confidence to foreign investors and also inspire the domestic businessmen and therefore the citizens. Then subsequent plan was to focus on the foremost important sectors and sketch the whole necessary framework for his or her growth. a complete of 25 sectors were chosen and vast technical information about the present market strategies and future plans were strategized. subsequent plan was to portray an equivalent to global audience through social media platforms and use its global reach capabilities to market the scheme. Also the most important strategy was to project that the govt and administration is providing simple doing business to the investors.
Make In India – 25 selected sectors
After much research and analysis a group of 25 different sectors were picked those would be promoted under this policy.These sectors had more scopes for increased foreign investment also as improve the manufacturing / productive quality. this is able to also mean more employment opportunities for these sectors as large productivity and global reach would mean more and more manpower. The sectors which were picked under this policy are:
Information Technology and Business Process Management
Media and Entertainment
Oil and Gas
Ports and Shipping
Roads and Highways
Space and Astronomy
Textiles and Garments
Tourism and Hospitality
Make in India Policy and Rules
Under the Make in India initiative, the central govt. wants maximum increase in production levels of the focused 25 sectors. The prime policy is to facilitate the in-house manufacturing units to expand their business and reach bent the worldwide market. additionally to the present , the government’s policy to supply EODB to foreign companies and investors to draw in more FDI within the country. Before this Make in India initiative, only 26 you look after FDI was sanctioned to the Defence sector, which has been to 49 slightly below new rules. within the Railways sector also, the FDI has been allowed up to 100% .
Brochures and website launch
With the launch of the grand initiative, the 25 sectors which were focused had to be promoted exclusively and therefore the key facts and statistics were to be projected to the planet . So, 25 separate brochures were made for every sector. These brochures also included the upcoming polities and targets along side contact details of the key players of these sectors which might be essential for simple doing business. an internet site was also created with similar facts named http://www.makeinindia.com. the web site is straightforward and sleek but has all detailed information and key facts for each sector. the brand of this initiative is one lion with mechanical designs which is meant by DIPP.
Make in India projects
It’s been almost two and half years of the implementation of the Make in India project. Few targets were achieved, some are yet to realize . watching the progress card of this policy, one thing is extremely clear that the roar of the lion of the initiative has increased ten folds. Below are a number of the key achievementsand improvements in Indian business and economy under the Make in India policy:
The FDI coming to Indian markets after the launch and implementation of this policy has grown by 37 per cent within the last two and half years.
An investment of roughly 78 million USD was made by the Spice mobile manufacturing group in Uttar Pradesh and decided to line up a producing hub within the state.
Hitachi which is another electrical giant of worldwide market found out a producing plant in Chennai and also promised to extend its manpower in India. it’s also committed to double the business revenues from this country.
Samsung announced the assembly of its smart phone Samsung Z1 from Noida itself and also opened 10 MSME technical schools within the country.
An important move by Huawei was taken by opening up a 170 million USD campus in Bangalore for research and development activities. Also it started establishing one manufacturing unit of telecom products in Chennai.
Xiaomi, which is that the leading smart phone manufacturer in Asia found out one manufacturing hub in India and successfully launched Redmi 2 Prime in India within a span of seven months.
Lenovo found out a producing plant in Tamil Nadu and began manufacturing Lenovo also as Motorola smart phones.
A billion dollar investment from Global Motors to line up an automobile plant in Maharashtra has been done.
Boeing showed interest in assembling fighter planes for India for defence purposes.
In Railways sector, one major achievement may be a 400 billion INR investment for fixing two different locomotive manufacturing hubs in Bihar.
Qualcomm which may be a global tech giant started one campaign under which it’ll mentor some hardware companies of India to extend their potential and productivity.
The PM of Japan visited India and announced investments of 12 billion USD under the Make in India campaign.
One defence affect Russia was signed under which a Russian helicopter utilized in Indian Air Force are going to be totally manufactured in India.
In the EODB chart prepared by the planet Bank, India ranks 130th within the list which has bettered after the implementation of the Make in India project.
Make in India week seminar schedule
A week long seminar was held in Mumbai from 13th Feb, 2016 to 18th Feb, 2016 which became a worldwide stage to showcase the manufacturing and designing potential of the participating sectors under the Make in India policy. in the week long seminar was organized in Mumbai’s MMRDA. a lively participation from businessmen and govt. authorities from everywhere the planet took part during this seminar. As per reports, quite 2,500 members from foreign countries participated within the seminar. additionally to the present , most of the states celebrated the week by holding similar seminars in their state. At the closing ceremony, Mr. A Kant, who is that the DIPP secretary revealed about the status report of the whole week long seminar which received commitment for investment of quite 240 billion USD.
Make in India registration process
Investors can register for the Make in India initiative and add up to the country’s economic process . One can register online and make investment query through the portal: http://www.makeinindia.com/query-form.
The applicant can register by entering name, e-mail id, contact number, country, sector of interest and therefore the query details for investment.
For offline queries and registration process, one may contact the Invest India which is an agency located in New Delhi which provides advisory and held investors invest in any sector under the Make in India scheme.
As per reports, at the present the time taken for registering a corporation in India is 27 day (average), which the Modi govt. aims to deliver in one single day in upcoming years.
Make in India registration fees
There is no specified registration fee for participating under the Make in India policy. One should have the specified credentials and skills to market the initiative in their concerned sector by implementing new innovations and techniques. One may register for Make in India newsletter through their website http://www.makeinindia.com/register to urge update of the newest developments of the grand project.
Reasons to take a position in industry
India is that the seventh largest producer of automobile within the world and at an equivalent time it’s the 4th largest automobile market by volume. It contributes to 7 per cent of the whole nation’s GDP. it’s an honest sector for investors since over subsequent 20 years; India goes to be an enormous global automotive triumvirate.
India may be a big global marketplace for automotives and thus the potential of this sector can’t be ignored. Here, there’s both a possible for the merchandise from manufacturing perspective also as there’s tons of potential in terms of in house sales.
Reasons to take a position in Aviation Industry
India is that the ninth largest civil aviation market thanks to the larger size of population within the country.
In year 2013 only, there have been quite 163 million passengers in India
The size of international passengers to and from India is predicted to be 60 million by year 2017
India has about 85 international airlines that connect almost 40 countries round the world
India is predicted to be the third largest aviation market by year 2020 and would thus require quite 800 aircrafts in house.
Reasons to take a position in Biotechnology Industry
India is one among the simplest destinations for biotechnology research both due to the manpower available in India and its long history of medicinal research in older streams like Ayurveda.
The country boasts of the 2nd highest number of USFDA approved biotechnological plants, only second to USA
India has already adopted the merchandise patent regime much earlier within the year 2005
Indian government is putting tons of funds on increasing infrastructural support for the industry and therefore the entire input from government’s end for biotechnological industry is predicted to be USD 3.7 billion between year 2012 and 2017.
As a matter of fact, India is already the most important product of recombinant hepatitis B Vaccine and features a lot of potential to be one among the most important producer of transgenic rice and other engineered food crops and vegetables.
Reasons to take a position in Chemicals Industry
India is that the sixth largest producer of chemicals within the world and ranks sixth in Asia in terms of output.
The industry is one among the key components of the Indian economy with its GDP share being 2.11 per cent.
The country is third largest producer of agro chemicals within the world and ranks third in terms of polymer consumption
India’s geographical proximity to the middle-east countries, which are petrochemical producers, makes it a perfect place for chemical production destination.
Apart from all of those , the govt support for industry in terms of infrastructure and R&D is appreciable which makes India an honest choice for investment in industry .
Reasons to take a position in housing industry
Construction industry has been booming at a rapid pace in India for the last 20 years approximately . this is often one sector, which is every growing and features a lot of potential within the coming future. Here are few of the points why investment would be an honest choice in housing industry in India.
An overall investment of USD 1,000 Billion is predicted during this sector until 2017.
This sector is that the favorite of state and thus it’s provided lot of ease to the investors during this segment.
At present only, the development section accounts for quite 10 per cent of the country’s Gross Domestic Product
Over subsequent 20 years, analysts believe that a complete of USD 650 would be required for construction in urban infrastructure.
Reasons to take a position in Defence Manufacturing
At present, India is one among the main importers of defence materials and this is often why there’s a huge scope in investment during this segment. If the doors of foreign investment are opened in defence sector, it might not only help the foreign investors but also boost the indigenous production in India.
The government has made all provisions to make sure that a conducive eco-system of suppliers is made domestically. the govt is committed on promoting indigenization, self reliance, up gradation of technology and developing capabilities for exports in defense sector and this is often something that might involve more and more investors.
Reasons to take a position in Electrical Machinery
India has been trying to create a independent and effective power grid and is trying to form power reach all the households. a complete of 88.5 GW has got to be added till 2017 and 93 GW to be added by 2022. this is often an enormous opportunity and will not be fulfilled with bringing in foreign direct investment.
In house, the Indian manufacturers are now different from what they were within the past and are now becoming more and more competitive in context of producing , product designs and testing facilities. we will see further an outsized pool of advancements in technologies and in human resources.
On the opposite hand, India foresees itself as an immediate exporter of electrical machinery to its neighboring countries and thus there’s an enormous gap that has got to be filled in terms of infrastructure and research and development.
Reasons to take a position in Renewable Energy sector
India ranks fifth in terms of power generation portfolio across the planet and it’s an influence generation capacity of around 245 GW.
Indian, as a rustic is growing in terms of accelerating prosperity, economic process and growing pace of urbanization. All this is often successively causing a niche between what proportion power is being produced and the way much goes to be required. Thus, there’s an enormous opportunity in terms of renewable energy sector.
One of the main sources of renewable energy currently getting used in India is Hydro-Electricity, however, the prices related to establishment is high for the govt to line up more centers of energy production.
Wind and solar power in India are still untapped and therefore the entire domain may be a void, which must be crammed with adequate foreign investment. The country has unlimited growth potential within the sort of solar photovoltaic industry.
Reasons to take a position in Food processing sector
One of the foremost sustainable and growing sector in any country in times to return is Food Processing. If someone has got to ponder over what might be the amount one crisis of the planet in future, it might be nothing else than food crisis. And in India, with such an enormous population with limited resources, the matter goes to be worse.
On a positive side, India features a rich agricultural resource and is that the top ranker surely raw food production like papayas, okra, ginger, chickpea, mangoes, bananas, buffalo meat, goat milk and whole buffalo. On the opposite hand, India ranks second in product of raw garden pea , cow milk, wheat, lentils, tomatoes, tea, cauliflower, gourds, pumpkin, dry onion, ground nut, garlic, potatoes, rice and sugarcane.
With such a diversified and abundant resource base, the country only requires adequate technological infrastructure to become one among the main centers of food processing and thus cater to the world’s food crisis.
Likewise, there are variety of other sectors/industries which are getting to be a favourite choice for the investors from abroad and Make in India would only benefit in overall development of the infrastructural strength of the country.
Foreign Direct Investment are some things which isn’t new India. It draws its origin in India after the liberalization started in year 1991 and since then the country has seen tons of serious development. Make in India may be a step ahead and more focused campaign which might take India from the self sustained economy to an exporting nation.