Global InformationMake in India information
| Make in India | |
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| Country | India |
| Prime Minister(s) | Narendra Modi |
| Key people | Ministry of Commerce and Industry (India) |
| Launched | September 25, 2014 |
| Status | Active |
| Website | www |
| This article is part of a series on the |
| Politics of India |
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Make in India is an initiative by the Government of India to create and encourage companies to develop, manufacture and assemble products made in India and incentivize dedicated investments into manufacturing.[1] The policy approach was to create a conducive environment for investments, develop a modern and efficient infrastructure, and open up new sectors for foreign capital. The initiative targeted 25 economic sectors for job creation and skill enhancement,[2] and aimed "to transform India into a global design and manufacturing export hub."[3][4]
"Make in India" had three stated objectives:
- to increase the manufacturing sector's growth rate to 12-14% per annum;
- to create 100 million additional manufacturing jobs in the economy by 2022;
- to ensure that the manufacturing sector's contribution to GDP is increased to 25% by 2022 (later revised to 2025).[5]
After the launch, India gave investment commitments worth ₹16.40 lakh crore (US$210 billion) and investment inquiries worth of ₹1.5 lakh crore (US$19 billion) between September 2014 to February 2016.[6][7][8] As a result, India emerged as the top destination globally in 2015 for foreign direct investment (FDI), surpassing the United States and China, with US$60.1 billion FDI.[9] As per the current policy, 100% Foreign Direct Investment (FDI) is permitted in all 100 sectors, except for Space industry (74%), defence industry (49%) and Media of India (26%).[10][11] Japan and India had also announced a US$12 billion 'Japan-India Make-in-India Special Finance Facility" fund to push investment.[12]
In line with the Make in India, individual states too launched their own local initiatives, such as "Make in Odisha", "Tamil Nadu Global Investors Meet", "Vibrant Gujarat", "Happening Haryana", and "Magnetic Maharashtra".[13] India received US$60 billion FDI in FY 2016–17.[14]
The World Bank's 2019 ease of doing business index acknowledges India's jump of 23 positions against its rank of 100 in 2017 to be placed now at 63rd rank among 190 countries.[15] By the end of 2017, India had risen 42 places on the ease of doing business index, 32 places in the World Economic Forum's Global Competitiveness Index, and 19 notches in the Logistics Performance Index,[14] thanks to recent governmental initiatives, which include converges, synergies and enables other important Government of India schemes, such as Bharatmala, Sagarmala, Dedicated Freight Corridors, Industrial corridors, UDAN-RCS, Bharat Broadband Network, Digital India.
The growth rate of manufacturing averaged 6.9% per annum between 2014–15 and 2019–20.[16] The share of manufacturing dropped from 16.3% of GDP in 2014–15 to 14.3% in 2020–21,[16] and dropped further to 14.1% in 2023-24.[17]
Three capital acquisition proposals worth ₹4,276 crore were cleared for the government's Make-In-India scheme on January 10, 2023
- ^ "Look East, Link West, says PM Modi at Make in India launch". Hindustan Times. 25 September 2014. Archived from the original on 25 September 2014.
- ^ "Focus on 'Make In India'". Business Standard. 25 September 2014. Retrieved 27 February 2015.
- ^ "Make in India - About Us". www.facebook.com. Retrieved 26 May 2018.
- ^ "Make in India Programme, All About the Manufacture in India Initiative".
- ^ Babu, M. Suresh (20 January 2020). "Why 'Make in India' has failed". The Hindu. ISSN 0971-751X. Retrieved 21 January 2020.
- ^ "Modi's 'Make In India' racks up $2 billion in investment pledges", Reuters, 18 February 2016
- ^ "'Make in India Week' gets ₹15.2 lakh crore investment commitments", The Economic Times, 18 February 2016
- ^ Abbas, Muntazir. "Make in India: Centre gets ₹1.20 lakh crore worth investment proposals in electronics sector". timesofindia-economictimes.
- ^ "India replaces China as top FDI destination in 2015: Report - The Economic Times", The Economic Times, 21 April 2016, retrieved 14 January 2017
- ^ "Sectors". Make In India. Archived from the original on 14 August 2015. Retrieved 1 October 2015.
- ^ "PM Modi's 'Make in India' turns one: All you need to know about the initiative". dna. 25 September 2015.
- ^ Chaudhury, Dipanjan Roy (14 December 2015), "Japan's $12 billion 'Make in India' fund to push investments", timesofindia-economictimes
- ^ "Make-in-Maharashtra mission to generate 20 lakh jobs", The Times of India, 17 January 2015
- ^ a b New India visible across nation: PM Modi, Times of India, 10 Jan 2018.
- ^ India Improves Rank by 23 Positions in Ease of Doing Business. The campaign is more of a poster campaign. (Press Information Bureau, Government of India, Ministry of Commerce & Industry), [1], 31-October-2018
- ^ a b Indicators, Key Economic (25 June 2021). "Key Economic Indicators". Office of the Economic Advisor. Archived from the original on 18 February 2022. Retrieved 18 February 2021.
{{cite web}}: CS1 maint: bot: original URL status unknown (link) - ^ "Press Note on Second Advance Estimates of National Income 2023-24" (PDF). mospi.gov.in. Retrieved 22 April 2024.