CONCEPT OF MAKE IN INDIA
Make in India is an initiative program of the Government of India to encourage companies to manufacture their products in It was launched by Primo Minister Narendra Modi on 25 September 2014.
History ::
Prime Minister Narendra Modi at the launch of Make in India. Modi and Cabinet ministers at the concluding session of the national workshop on Make in India in New Delhi, 29 Derember 2014. The Prime Minister Narendra Modi had hinted towards
initiative in his dependence Day speech of 15th August 2014. It was launched on 25th September 2014 in a function at the Vigyan Bhawan on 29 December 2014, a workshop was organised by the Department of Industrial Policy and Promotion which was attended by Modi, his Cabinet ministers, chief secretaries of states and various industry leaders.
Prime Minister Narendra Modi at the launch of Make in India. Modi and Cabinet ministers at the concluding session of the national workshop on Make in India in New Delhi, 29 Derember 2014. The Prime Minister Narendra Modi had hinted towards
initiative in his dependence Day speech of 15th August 2014. It was launched on 25th September 2014 in a function at the Vigyan Bhawan on 29 December 2014, a workshop was organised by the Department of Industrial Policy and Promotion which was attended by Modi, his Cabinet ministers, chief secretaries of states and various industry leaders.
Overview ::
The major objective behind the initiative is to focus on 25 sectors of the economy for job creation and skill enhancement. Some of these sectors are: automobiles, chemicals, IT, pharmaceuticals, textiles, ports, aviation, leather, tourism and hospitality, wellness, railways, auto components, design manufacturing, renewable energy, mining, bio-technology, and electronics. The initiative hopes to increase GDP growth and tax revenue. 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.The campaign was designed by Wieden+Kennedy.
The major objective behind the initiative is to focus on 25 sectors of the economy for job creation and skill enhancement. Some of these sectors are: automobiles, chemicals, IT, pharmaceuticals, textiles, ports, aviation, leather, tourism and hospitality, wellness, railways, auto components, design manufacturing, renewable energy, mining, bio-technology, and electronics. The initiative hopes to increase GDP growth and tax revenue. 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.The campaign was designed by Wieden+Kennedy.
Under the initiative, brochures on the 25 sectors and a web portal were released. Before the initiative was launched, foreign equity caps in various sectors had been relaxed. The application for licences was made available online and the validity of licenses was increased to 3 years. Various other norms and procedures were also relaxed.
In August 2014, the Cabinet of India allowed 49% foreign direct investment (FDI) in the defence sector and 100% in railways infrastructure. The defence sector previously allowed 26% FDI and FDI was not allowed in railways. This was in hope of bringing down the military imports of India. Earlier, one Indian company would have held the 51% stake, this was changed so that multiple companies could hold the 51%. Out of 25 sectors, except Space(749%, Defence 49%) and News Media(269%, 100% FDI is allowed in rest of sectors.
Responses
In January 2015, the Spice Group said it would start a mobile phone manufacturing unit in Uttar Pradesh with an investment of ?500 crore. A memorandum of understanding was signed between the Spice Group and the Government of Uttar Pradesh.
In January 2015, the Spice Group said it would start a mobile phone manufacturing unit in Uttar Pradesh with an investment of ?500 crore. A memorandum of understanding was signed between the Spice Group and the Government of Uttar Pradesh.
In January 2015, HyunChil Hong, the President & CEO of Samsung South West Asia, met with Kalraj Mishra, Union Minister for Micro, Small and Medium Enterprises (MSME), to discuss a joint initiative under which 10 "MSME- Samsung Technical Schools" will be established in India.
In February, Samsung said that will manufacture the Samsung Z1 in its plant in Noida.
In February 2015, Hitachi said it was committed to the initiative. It said that it would increase its employees in India from 10,000 to 13,000 and it would try to increase its revenues from India from € 100 billion in 2013 to 210 billion. It said that an auto-component plant will be set up in Chennai in 2016.
In February 2015, Huawei opened a new research and development (R&D) campus in Bangalore . It had invested US$ 170 million to establish the research and development center.
Also in February, Marine Products Export Development Authority said that it was interested in supplying shrimp farmers in India under the initiative.
In June 2015, France-based LH Aviation signed an MoU with OIS Advanced Technologies to set up a manufacturing plant in India to manufacture drones.
