Economics Current

Make in India

Make in India
What is Make In India? Make in India is an initiative by the Government of India which was launched by Prime Minister Narendra Modi. The motto of the campaign “Make in India” is to attract capital and technological investment as well as start product manufacturing in the country. The program was launched keeping in mind an inflow of FDI. The campaign was launched on the 25th of September 2014 in Vigyan Bhawan, New Delhi. The population of the country is increasing day by day and this is creating a huge issue for the youth of the country with regard to the availability of jobs. As the campaign is running effectively, the youth is getting jobs in various employment sectors that promote indigenous industries. What are the objectives? The ‘Make in India’ campaign aims to make India a powerful economy that will help her evolve into a developed nation from a developing nation. At the launching of the campaign, top business tycoons and industrialists were present where they ensured their full support to the campaign and promised more jobs to the citizens of the country. The main objective is to focus on job creation and skill enhancement in various sectors of the economy, high-quality standards of infrastructure and minimizing the impact on the environment. The initiative hopes to attract capital and technological investment in India as well as abroad. What are the sectors that it will cover? The campaign focuses on 25 industries, such as Automobiles, Oil and Gas, Aviation, Chemicals, Railways, Pharmaceuticals, Food Processing, Electronics, among others. ‘Make in Maharashtra’ is an initiative that has been started by the Government of the state of Maharashtra on the lines of the Make in India initiative. The main objective is to create a business-like atmosphere in Maharashtra by increasing the ease of conducting business. In April 2017, Kia had announced that it would invest over $1.1 billion to build a car manufacturing plant in Anantapur, Andhra Pradesh, which would create more than 10,000 jobs by the end of 2021. Elon Musk had stated that he intended to join Make In India with all-electric car manufacturer Tesla starting operations by 2019. In April 2018, Saudi Arabian Oil company Aramco had signed a deal with Indian refiners to build a $44 billion refinery and petrochemical project on the west coast of India. Train 18 began to operate in India following tests in 2018. This is 80% domestically sourced. As such, there have been numerous instances of foreign companies expressing their interest to invest in various sectors of India. The 35th edition of the India International Trade Fair (IITF) which was held at Pragati Maidan in November 2015 was based on the theme of ‘Make in India’. A “Make in India Week” event was held at the MMRDA Grounds at the Bandra-Kurla Complex in Mumbai from 13th February 2016. This week-long event was attended by over 2500 international and 8000 domestic firms, foreign government delegations from over 60 countries and business teams from over 70 countries. 17 Indian states also held expos. At the closing ceremony of the event, DIPP Secretary Amitabh Kant stated that it had received over rupees 15.2 lakh crore worth of investment commitments and investment inquiries worth rupees 1.5 lakh crore. Maharashtra led all other states receiving rupees 8 lakh crore of investments. With the rising demand for electronic hardware by 2020, India has the potential to become a top electronic manufacturing hub. Zero Defect Zero Effect “Zero Defect Zero Effect” - a slogan coined by Prime Minister of India, Narendra Modi, signifies production mechanisms where products have no inherent defects and the process through which the products are made has zero adverse effect on the environment and ecology. The slogan also aims to prevent products developed from India from being rejected by the global market. Aarisa Pitha of Jharkhand, Gushtaba of Kashmir, Khakhra and Khandvi of Gujarat, Bamboo Steam Fish, Vada and Medhu Vada of Karnataka, Kebab of Uttar Pradesh and Puran poli of Maharashtra, among others have been selected as the traditional regional foods which are to be promoted. What is the significance of Make In India? This program is designed to transform the country into a global business hub as it contains attractive proposals for top indigenous and foreign companies. It focuses on creating a number of valuable jobs as well as skill enhancement in almost 25 sectors of the economy for improving the status of the youth of the country. The successful implementation of this campaign will help in the 100 smart cities project and affordable housing in India. The main objective is to ensure steady growth and employment creation in the country with the help of top investors in India and abroad. The campaign will benefit both the parties, the investors and our nation. The government of India has created a help team and an online portal ( to ensure smooth communication of investors. A dedicated cell is available to answer all the queries from business entities anytime regarding the campaign.

Related Articles
• Export Preparedness Index, 2020
• Defence Production and Export Promotion Policy, 2020
• 42nd GST Council Meeting
• India-Maldives bilateral relations: ‘Air bubble agreements’
• The Chinese Apps’ disappearance and the emergence of their knockoffs
• IMD World Digital Competitiveness Ranking 2019
• World Tourism Day 2019
• World-renowned travel company Thomas Cook has gone bankrupt
• Housing Sector Reforms
• PM Modi in Russia
Recent Articles
• Q12. Ethical issues involved in the use of social media.
• Q4 (b) Differentiate ‘moral intuition” from ‘moral reasoning’.
• Q2 (b) Difference between ‘coercion' and 'undue influence’ in work environment
• Q9. A journalist fighting the stone mafia
• Innovation and Creativity
• Love and hatred
• Religion and Spirituality
• Tulsidas
• Bureaucrat at the Temple
• Getting Fooled for Kindness