Seeking to make the country a global manufacturing hub, Prime Minister
Narendra Modi launched the ambitious 'Make in India' campaign in the
presence of global and domestic CEOs .
The 'Make in India' campaign is aimed at making India a manufacturing hub, and the government is pulling out all the stops for ensuring a smooth sailing for investors, by setting up a dedicated cell to answer queries of business entities within 72 hours. It will also closely monitor all regulatory processes to make them simple and reduce the burden of compliance.
Prime Minister Narendra Modi launched his flagship 'Make in India' campaign to put the country prominently on the global manufacturing map and, in turn, facilitate the inflow of new technology and capital, while creating millions of jobs.
The ambitious scheme, that also puts in place the logistics and systems to address, in a timely manner, queries of potential investors, was unveiled along with a logo, a portal and brochures on 25 identified growth sectors before bigshots from the corporate world from India and abroad at the Vigyan Bhavan conference complex in the national capital.
The event was watched live in several cities in the country and overseas via video conferencing.
Laying out the red carpet before investors,
The major objective behind this initiative is to focus upon the heavy
industries and public enterprises while generating employment in India.
The highlights and purpose of Come, Make in India are-
Investment and development in these sectors is important for improvement of manufacturing sector in India.
Five challenges that the 'Make in India' could face.
. Creating healthy business environment will be possible only when the administrative machinery is efficient. India has been very stringent when it comes to procedural and regulatory clearances. A business-friendly environment will only be created if India can signal easier approval of projects and set up hasstle-free clearance mechanism.
2. India should also be ready to tackle elements that adversely affect competitiveness of manufacturing. To make the country a manufacturing hub the unfavorable factors must be removed. India should also be ready to give tax concessions to companies who come and set up unit in the country.
3. India's small and medium-sized industries can play a big role in making the country take the next big leap in manufacturing. India should be more focused towards novelty and innovation for these sectors. The government has to chart out plans to give special sops and privileges to these sectors.
4.India's make in India campaign will be constantly compared with China's 'Made in China' campaign. The dragon launched the campaign at the same day as India seeking to retain its manufacturing prowess. India should constantly keep up its strength so as to outpace China's supremacy in the manufacturing sector.
5. India must also encourage high-tech imports, research and development (R&D) to upgrade 'Make in India' give edge-to-edge competition to the Chinese counterpart's campaign. To do so, India has to be better prepared and motivated to do world class R&D. The government must ensure that it provides platform for such research and development.
Automobiles,Automobile Components,Aviation,Biotechnology,Chemical,Construction,Defence Manufacturing,Electrical Machinery,Electronic Systems,Food Processing,IT and BPM,Leather,Media and Entertainment,MiningOil and Gas,Pharmaceuticals,Ports,Railways,Renewable Energy ,Roads and Highways,Textile Garments,Thermal Power,Tourism and HospitalityWellness
The 'Make in India' campaign is aimed at making India a manufacturing hub, and the government is pulling out all the stops for ensuring a smooth sailing for investors, by setting up a dedicated cell to answer queries of business entities within 72 hours. It will also closely monitor all regulatory processes to make them simple and reduce the burden of compliance.
Prime Minister Narendra Modi launched his flagship 'Make in India' campaign to put the country prominently on the global manufacturing map and, in turn, facilitate the inflow of new technology and capital, while creating millions of jobs.
The ambitious scheme, that also puts in place the logistics and systems to address, in a timely manner, queries of potential investors, was unveiled along with a logo, a portal and brochures on 25 identified growth sectors before bigshots from the corporate world from India and abroad at the Vigyan Bhavan conference complex in the national capital.
The event was watched live in several cities in the country and overseas via video conferencing.
Laying out the red carpet before investors,
Objective
Prime Minister Narendra Modi launches Make in India
The highlights and purpose of Come, Make in India are-
- The campaign, 'Make in India' is aimed at making India a manufacturing hub and economic transformation in India while eliminating the unnecessary laws and regulations, making bureaucratic processes easier and shorter, and make government more transparent, responsive and accountable.
- The government emphasized upon the framework which include the time-bound project clearances through a single online portal which will be further aided by the eight-members team dedicated to answering investor queries within 48 hours and addressing key issues including labor laws, skill development and infrastructure.
- This campaign basically gives hope to the unemployed to find a decent job if not big jobs as manufacturing leads to creation of lot of service sector activity. But India will have to make sure to focus on quality education rather than just skill development. It is also hoped that this is a precursor to change some labor laws that would make investing in manufacturing more attractive to Indians as well as other nations.
Five challenges that the 'Make in India' could face.
. Creating healthy business environment will be possible only when the administrative machinery is efficient. India has been very stringent when it comes to procedural and regulatory clearances. A business-friendly environment will only be created if India can signal easier approval of projects and set up hasstle-free clearance mechanism.
2. India should also be ready to tackle elements that adversely affect competitiveness of manufacturing. To make the country a manufacturing hub the unfavorable factors must be removed. India should also be ready to give tax concessions to companies who come and set up unit in the country.
3. India's small and medium-sized industries can play a big role in making the country take the next big leap in manufacturing. India should be more focused towards novelty and innovation for these sectors. The government has to chart out plans to give special sops and privileges to these sectors.
4.India's make in India campaign will be constantly compared with China's 'Made in China' campaign. The dragon launched the campaign at the same day as India seeking to retain its manufacturing prowess. India should constantly keep up its strength so as to outpace China's supremacy in the manufacturing sector.
5. India must also encourage high-tech imports, research and development (R&D) to upgrade 'Make in India' give edge-to-edge competition to the Chinese counterpart's campaign. To do so, India has to be better prepared and motivated to do world class R&D. The government must ensure that it provides platform for such research and development.
Sectors included
Following sectors have been included by the Government in this campaign-Automobiles,Automobile Components,Aviation,Biotechnology,Chemical,Construction,Defence Manufacturing,Electrical Machinery,Electronic Systems,Food Processing,IT and BPM,Leather,Media and Entertainment,MiningOil and Gas,Pharmaceuticals,Ports,Railways,Renewable Energy ,Roads and Highways,Textile Garments,Thermal Power,Tourism and HospitalityWellness
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