Make in India Campaign

Overall Rating: star ratingstar ratingstar ratingstar ratingstar rating[4/5]Total Votes [ 3 ]  
Rate this page:

India Economy Latest News And Updates

FDI up 48 percent in seven months of 'Make in India'
July 15, 2015 10:21 AM
Foreign direct investment (FDI) into the country has seen a 48 percent growth in the seven-month period from the launch of 'Make in India' initiative in September till April 2015, an official statement said on Tuesday. "The growth in FDI has been significant after the launch of 'Make in India' initiatives in September 2014, with 48 percent increase in FDI equity inflows during October 2014 to April 2015 over the corresponding period last year," the commerce ministry statement said. In 2014-15, the country witnessed unprecedented growth of 717 percent, to $40.92 billion of investment by Foreign Institutional Investors (FIIs), it said. "The FDI inflow under the approval route saw a growth of 87 percent during 2014-15 with inflow of $2.22 billion despite more sectors having been liberalized during this period and with more than 90 percent of FDI being on automatic route," the statement added. Source: IANS
Modi invites Kazakhstan to 'Make in India'
July 08, 2015 10:15 AM
Prime Minister Narendra Modi on Tuesday urged Kazakhstan to participate in India's "Make in India" initiative, Smart Cities and urban infrastructure programme to create a win-win partnership. Addressing CEOs of both countries at a business meet, Modi also praised Kazakhstan's development and progress. He said Kazakhstan, despite being landlocked, has moved forward in development, which needs to be admired and praised. Citing the Satpayev oil block, in which India's OVL is participating, Modi said the oil block began exploratory drilling on Tuesday. Source: IANS
German Airbus Defence keen to be part of 'Make in India'
June 30, 2015 02:14 PM
Airbus Defence and Space CEO Bernhard Gerwert on Tuesday met Prime Minister Narendra Modi and expressed a keen interest to be a partner in his 'Make In India' initiative, a statement from the Prime Minister's Office said. "They discussed various projects in aerospace, defence and civil aviation sectors in India. He expressed Airbus' keen interest in becoming a partner in the 'Make in India' initiative," the statement added. Airbus Defence and Space is a German company, offering products and services in defence and aerospace sectors. Source: IANS  
Turkey keen to invest in Make In India: Envoy
June 16, 2015 02:02 PM
Turkish Ambassador Burak Akcapar said on Tuesday his country is keen to invest in Prime Minister Narendra Modi's Make In India campaign, particularly in the manufacturing and construction sectors. "We are looking into the possible opportunities in the context of Make in India but no concrete step has been taken. We are looking forward to receiving information and possible visits from India to explain the objectives to which we can contribute," Akcapar told the media in Kolkata. He was speaking on the sidelines of the launch of his book 'People's Mission to the Ottoman Empire: M.A. Ansari and the Indian Medical Mission, 1912-13' at the Oxford Bookstore on Monday. Source: IANS

Make in India is a Government of India initiative to attract, encourage and invite foreign companies to manufacture their products in factories and plants located in India. It was launched on 25 September 2014 by Prime Minister of India Narendra Modi. This
initiative of PM Modi is aimed at creating employment opportunities for the youth of India.

India is one of the fastest growing economies in the world today and promises to become one of top three economies of the world by 2020. Large-scale manufacturing and production help generate employment and propel a country's economic upsurge; the same is the target set by PM Modi for India. Prime Minister Narendra Modi, before the 2014 General Elections, had promised the people that if he got elected to power, his government would leave no stone unturned for creating enough job opportunities for the Indian youth. The result of the NDA government's innovative policies was the inception of the 'Make in India' programme.

Modi announced an innovative programme called 'Make in India' in his first Independence Day speech as the Indian Prime Minister on 15 August 2014 at the Red Fort.

Key Policies of the Make in India

The four key policies adopted by the Government of India for the 'Make in India' programme are as follows:
  • New Initiatives- To facilitate investment, foster innovation, protect intellectual property and build best-in-class manufacturing infrastructure.
  • Foreign Direct Investment- To create an investor-friendly atmosphere and relax the regulatory environment to encourage FDI into India.
  • Intellectual Property Facts- To create a conducive environment for the protection of intellectual property rights of innovators and creators by bringing about changes at legislative and policy level and lay specific focus on improving service delivery by upgrading infrastructure, building capacity and using state-of-the-art technology in the functioning of intellectual property offices in the country.
  • National Manufacturing- Adopted the 'National Manufacturing' policy to address the realms of infrastructure, regulation, technology, skill development, financial feasibility, exit mechanism and various other factors pertaining to the manufacturing sector.

About Make in India official logo- The Lion

The official logo incorporated as the identification symbol of the 'Make in India' initiative is a lion. It is derived from India’s national emblem. The logo is a striding lion made of cogs, symbolising manufacturing, strength and national pride. A lion symbolises strength, aggression and dominance. Hence, Prime Minister Narendra Modi opted to take up a lion figure featuring machinery all over it as the official logo of the 'Make in India' programme to project India’s global manufacturing prowess.

Targeted Range of Sectors under the Make in India Campaign

The initiative is targeted at 25 of the most crucial sectors of the Indian economy that constitute a bulk of the total GDP. These sectors are as follows:
  • Renewable Energy
  • Biotechnology
  • Mining
  • Automobiles
  • Auto Components
  • Chemicals
  • Railways
  • IT and BPM
  • Tourism and Hospitality
  • Pharmaceuticals
  • Aviation
  • Textiles and Garments
  • Construction
  • Defence Manufacturing
  • Electrical Machinery
  • Electronic Systems
  • Food Processing
  • Wellness
  • Thermal Power
  • Space
  • Roads and Highways
  • Ports
  • Oil and Gas
  • Media and Entertainment
  • Leather

Government Incentives for Make in India Campaign

  • Allowed 100 percent FDI in medical devices.
  • Increased FDI cap in insurance and sub-activities from 26 percent to 49 percent.
  • Allowed 100 percent FDI in the telecom sector.
  • Allowed 100 percent FDI in single-brand retail.
  • FDI in commodity exchanges, stock exchanges and depositories, power exchanges, petroleum refining by PSUs and courier services under the government route has now been brought under the automatic route.
  • Removed restriction in the tea plantation sector.
  • Raised FDI limit to 74 percent in credit information and to 100 percent in asset reconstruction companies.
  • Raised FDI limit of 26 percent in the defence sector to 49 percent under the government approval route. Foreign Portfolio Investment up to 24 percent permitted under automatic route. FDI beyond 49 percent is also allowed on a case-by-case basis with the approval of Cabinet Committee on Security.
  • Construction, operation and maintenance of specified activities of the Railway sector opened to 100 percent foreign direct investment under automatic route.

Last Updated on June 12, 2015