MAKE IN INDIA

MAKE IN INDIABy:- Amit NigamD-40A3906413103

Make in Indiais an initiative of theGovernment of India, to encourage companies to manufacture their products inIndia. It was launched byPrime Minister,Narendra Modion 25 September 2014.Introduction

Modi and Cabinet ministers at the concluding session of the national workshop on Make in India in New Delhi, 29 December 2014.

Modi had hinted towards the initiative in hisIndpendence Dayspeech of 15 August 2014. It was launched on 25 September 2014 in a function at theVigyan Bhawan.On 29 December 2014, a workshop was organised by theDepartment of Industrial Policy and Promotionwhich was attended by Modi, hisCabinet ministers, chief secretaries of states and various industry leaders.HistoryThe major objective behind the initiative is to focus on 25 sectors of the economy for job creation and skill enhancement. Some of these sectors are:-

Other sectors -Tourismandhospitality,wellness,railways, auto components, design manufacturing,renewable energy,mining,bio-technology, andelectronics.Overview

Under the initiative, brochures on the 25 sectors and a web portal were released. Before the initiative was launched, foreign equity caps in various sectors had been relaxed or removed. The application for licences was made available online. The validity of licenses was increased to 3 years. Various other norms and procedures were also relaxed.In August 2014, theCabinet of Indiaallowed 49%foreign direct investment(FDI) in thedefence sectorand 100% inrailwaysinfrastructure. The defence sector previously allowed 26% FDI and FDI was not allowed in railways. This was in hope of bringing down the military imports of India. Earlier, one Indian company would have held the 51% stake, this was changed so that multiple companies could hold the 51%.

Incentives

In January 2015, theSpice Groupsaid it would start a mobile phone manufacturing unit inUttar Pradeshwith an investment of500crore. A memorandum of understanding was signed between the Spice Group and theGovernment of Uttar Pradesh.

In January 2015, HyunChil Hong, the President & CEO ofSamsungSouth West Asia, met withKalraj Mishra, UnionMinister for Micro, Small and Medium Enterprises(MSME), to discuss a joint initiative under which 10 "MSME-Samsung Technical Schools" will established in India.In February,Samsungsaid that will manufacture theSamsung Z1in its plant inNoida.

In February 2015, Hitachi said it was committed to the initiative. It said that it would increase its employees in India from 10,000 to 13,000 and it would try to increase its revenues from India from100billionin 2013 to210billion. It said that an auto-component plant will be set up inChennaiin 2016.

Responses

Also in February,Marine Products Export Development Authoritysaid that it was interested in supplying shrimp eggs to shrimp farmers in India under the initiative.In March 2015,Sony India's head, Kenichiro Hibi, said at theMobile World Congressthat they may open a factory in India.

ResponsesThankyou