Journey through 'Make in India'


'MAKE IN INDIA' is an initiative of Govt. of India to encourage multinational as well as domestic companies to manufacture their products in India. It is thus more than just an initiative for a developing nation like India, which in 21st century is the fastest growing economy of the world and soon will overtake China.

'MAKE IN INDIA' is an initiative of Govt. of India to encourage multinational as well as domestic companies to manufacture their products in India. Launched by PM Narendra Modi on 25th September 2014, it aims at increasing the GDP and tax revenues in the country by producing products that meet high quality standards and minimizing the effect on environment. India would then emerge as the top destination globally for 'Foreign Direct Investment' surpassing China as well as USA.

Policies under 'Make In India':



New Initiatives:


This is to improve the ease of doing business in India, which includes increasing the speed with which protocols are met with and increasing transparency. Government has introduced the facility of on line filing of income tax returns, replacing paper registers with electronic registers by businessmen and also environmental clearances can be sought on line.

Foreign Direct Investment:


Amongst the total of 25 sectors, Govt. has allowed FDI in sectors such as Oil and Gas, Automobiles, Aviation, Construction, Electronic Systems, Ports and Shipping etc. whereas increasing FDI in Defense sector from 26% to 49%. In addition to this, 74% FDI in space and 29% in news media is permitted.

Intellectual Property Facts:


The Govt. has decided to improve and protect intellectual property rights of innovators and creators by upgrading infrastructure and using state of art technology. The main aim of 'Intellectual Property Rights' is to establish a vibrant intellectual property regime in the country.

National Manufacturing:


The vision is to increase manufacturing sector growth to 12-14% per annum over the medium term to increase share of manufacturing in country's GDP from 16% to 25% by 2022, to create 100 million additional jobs by then in this sector and ultimately to increase the domestic value addition and technological depth in manufacturing.

Response to 'Make In India' initiative:


The Government has said, it has so far received 1.10 lakh crores worth of proposals from various companies that are interested in manufacturing electronics in India.
Companies like Xiaomi, Huawei have already set up manufacturing units in India, while iPhone, iPad manufacturer Foxconn is expected to open a unit soon. In August 2015, Xiaomi announced the launch of Redmi 2 Prime, a smart phone assembled in India. Recently Lenovo has also announced that it has started manufacturing Motorola smart phones in a plant near Chennai.

In October 2015, Boeing chairman said that the company could assemble fighter planes and either Apache or Chinook defense helicopter in India. The company is also wiling to manufacture F/A-18 Super Hornet in India if Indian Air Force were to buy it.

In November 2015, Ministry of Railways signed formal agreements with Alstam and GE transport to set up locomotive manufacturing factories in Bihar. Following Japanese PM visit in December, it was announced that Japan would invest US 12 billion dollars in a program called 'Japan-India Make In India Special Financial Facility.'

Conclusion:


'Zero Defect Zero Effect' is a slogan coined by PM Narendra Modi which signifies production mechanisms wherein products have no defects and process through which product is made has zero adverse environmental and ecological effects. Though the opposition define this program as beating around the bush, PM talks about introducing future technologies such as e-sensing, flying cars, real time translation softwares, making 100% recyclable material aiming at making developed India by 2035.


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