The purpose of Make in India is to make the country a manufacturing hub. Both domestic and foreign investors have been originally promised to provide a favorable environment to create employment opportunities by converting strong India population of 125 crores into a manufacturing center. It was Launched by PM Narendra Modi.
Objectives:
This scheme:
- Aim to increase the manufacturing sector by 12-14% annually in comparison to the medium term.
- Increase the share of manufacturing in the country’s gross domestic product by 2022 to 16 percent to 25 percent.
- Creating additional jobs of 100 million by 2022 in manufacturing sector
- Creating the appropriate skills for overall development in rural migrants and urban poor people.
- Increasing technical knowledge in domestic value addition and manufacturing.
- Increasing the global competitiveness of Indian manufacturing sector
- Ensuring sustainability of development in relation to the Indian specially environment.
The Benefits That It Has Caused
- India has registered itself as the fastest growing economy in the world.
- This country is going to be among the world’s fastest growing economies and it is expected that by the year 2020 it will become the world’s largest producer.
- For the next two to three decades the population growth will be favorable to the industries. Manpower will be available to work equally.
- Compared to other countries, there is less cost of manpower.
- The business houses here work responsibly, in trustworthy ways and professionally.
- Stunning consumerism is running here in the domestic market.
- The technical and engineering capabilities are present in this country and behind them the scientific and technical institutions are in charge.
More benefits
- The market is open for foreign investors and it is quite well regulated.
· Manpower training:
No production area can be successful without skilled manpower. It is a satisfying fact that the government has taken new measures for skill development. Of these, of course, the villages will stop migrating to the cities in search of employment and more inclusive development of the urban poor will be possible. This will be an important step towards strengthening the production sector.
· Skill Development:
Skill development and entrepreneurship has started amending national policy on national skill development. It is a matter of note that the Modi government has started a new program under the Ministry of Rural Development. This program has been named after Pandit Deendayal Upadhyaya, the hero of BJP. Under the new training program, there is a program to open 1500 to 2000 training centers across the country. The estimated cost of this project is Rs 2000 crore. Here public-private partnership will be operated in the format.
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Good News for the IT Companies:
Other measures to be taken include basic facilities and especially roads and power development. For a long time, MNCs and software companies preferred to work in India because there is a wide market and purchasing power of citizens. Apart from this, production facilities are also available in this country. It is also worth noting in this context that there is a strong political will, favorable attitude of bureaucrats and entrepreneurs, skilled manpower and friendly investment policies.
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New Procedure:
‘Make in India’ believes that one of the most important things to promote entrepreneurship is ‘convenience to do business’. Many projects have already been started to ease the business environment. It aims to de-regulate and de-license the business at the time of the whole business cycle.
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Newly made infrastructure:
Accessibility of modern and convenient infrastructure, for the development of industries, is extremely important. The government happens to intend making industrial corridors as well as well turned-out cities to provide advanced high-speed communication and integrated logistics arrangements as well as provide excellent technology-based infrastructure. By improving the infrastructure in industrial clusters, the present infrastructure will be toughened.
New areas:
‘Make in India’ has identified 25 sectors in manufacturing, infrastructure and service activities, and detailed information is being shared through this through interactive web portals and professionally designed brochures.
New thinking:
The industry has been used to seeing government as a regulator. The purpose of ‘Make in India’ is to transform this thinking by bringing drastic change in the government’s dialogue with the industry. The government will partner with the industries in the economic development of the country. Our approach will be of a facilitator and not a regulator.
Eligibility:
NA
Documents Required:
NA
Reference Link:
www.makeinindia.com/about
As it is seen this will have a profound impact in a serious business and includes two inherent elements needed for any innovation – to exploit new paths or opportunities and to meet the challenges of keeping the right balance. Political leadership happens to be predictable and widely popular. But ‘Make in India’ project is essentially seen as an appropriate combination of economic discretion, and administrative reforms. In this way this initiative supports the public mandate- ‘A aspirant India’.
