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Make in India is an international marketing strategy, conceptualized by the Prime Minister of India, Narendra Modi on 25 September 2014 to attract investments from businesses around the world, and in the process, strengthen India’s manufacturing sector. The campaign’s purpose is to enhance job creation, boost the national economy, convert India to a self-reliant country and to give the Indian economy global recognition. The campaign is under control of the Central Government of India.
[tii_spoiler title=”Progress “]- Government has received investment proposals worth over Rs 25,352 crore for electronics manufacturing in the country. Investment proposals of about Rs 19,057 crore have been received under Modified-Special Incentive Package Scheme (M-SIPS) and Rs 6,295.93 crore under the Electronics Manufacturing Clusters (EMC) scheme.
- Sensing the mood of the domestic and international defence suppliers and vendors, Prime Minister, Narendra Modi on Wednesday promised a major boost to the “Make in India’’ manufacturing vertical under the defence segment promising major concessions in the budget including a discrimination free tax regime and hinted at increasing the 49 per cent FDI in defence further, if state-of-the-art technology is brought into India.
- Samsung and Sony have announced plans for setting up manufacturing bases in India as a part of the Make in India initiative, reports in. Samsung will reportedly invest as much as $500 million to $1 billion in the manufacturing unit that will produce smartphones and tablets for the company.
- This public-transport investment can become a Make-in-India affair. Bharat Earth Movers Limited (BEML), a public-sector company, has become a major supplierof metro rail coaches, sending more than 700 to the metro projects in Delhi, Bangalore and Jaipur, with more on order.
- India to save Rs 1,200 crore by producing currency paper locally. The Security Printing and Minting Corporation of India Limited (SPMCIL) spends around Rs 1,200 crore in foreign exchange annually in procuring this paper. From 2015, it will produce the currency paper locally. The printing is done by Reserve Bank of India (RBI).
- FDI investment in wholesale business to ‘Make in India’.
- India will double customs duties on commercial vehicles including trucks to discourage imports.
- From removing 4 per cent special additional duty (SAD) on PC components to imposing education cess on imported electronic products to spur its ambitious ‘Make in India’ programme, government announced a slew of measures to promote domestic manufacturing.
- Israeli defence minister Moshe Ya’alon meets PM Narendra Modi, promises technological support for Make-in-India.
- Private Equity firmGeneral Atlantic is planning to invest close to half a billion in India, the firm’s CEO Bill Ford told The Economic Times. Ford also mentioned that they have identified 6 sectors as possible investment targets including, financial services, retail, healthcare, data-driven business process outsourcing, internet advertising and mobile internet.
- Cisco launched a kiosk for the Bengaluru Police, using which Bengaluru residents can file an FIR for any area in the city at any time of the day. Malkani told ET that while the first kiosk was imported from the UK, all future kiosks will be made in India.The company is still finalizing the products that will be built in India and possible location for the manufacturing facilities.
- Skill certifications would be given to make training process, a standard. Currently manufacturing in India suffers due to low productivity rigid laws and poor infrastructure resulting in low quality products getting manufactured.
- Over 1000 training centres would be opened across India in the next 2 years
- For companies setting up factories, “Invest India” unit is being set-up in the commerce department which would be available 24/7. The main focus of this department would be to make doing business in India easy by making all the approval processes simpler and resolving the issues in getting regulatory clearances within 48-72 hours so that clearances are fast. To make this possible, special team would be available to answer all the queries related to help foreign investors/companies.
- The e-biz portal would be soon launched which would be real time and available 24*7
- The sales pitch would be made available in capital cities in India and countries with time zone similar to India
- This will help in creating job market for over 10 million people in India
- Manufacturing done here would boost India’s GDP, trade and economic growth
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