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Make in India

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The government of India has recently announced its most ambitious “Make in India”

campaign to boost manufacturing in the country. The manufacturing sector’s contribution

to GDP is just 15 percent. The Indian government’s aim is to increase the share of

manufacturing to 25 percent of GDP by 2025.

What is “Make in India”

Make in India is a new national program designed to transform India into a global

manufacturing hub. It contains a raft of proposals designed to urge companies - local

and foreign - to invest in India and make the country a manufacturing powerhouse.

It broadly includes plans to cut red tape, develop infrastructure and make it easier for

companies to do business. Currently, India ranks 134 out of 189 countries in the World

Bank’s ease of doing business index in 2014.

Why “Make in India”:

The manufacturing sector has potential to create 90 million jobs in the next decade in

India.

The other benefit is conservation of precious foreign exchange by cutting down imports,

and at the same time generating surplus for exports.

Given the labour cost advantage, the products manufactured in India, will be competitive

across the globe.

Which sector will “Make in India” cover:

The focus of Make in India programme is on creating jobs and skill enhancement in 25

sectors. These include: automobiles, aviation, chemicals, IT & BPM, pharmaceuticals,

construction, defense manufacturing, electrical machinery, food processing, textiles and

garments, ports, leather, media and entertainment, wellness, mining, tourism and

hospitality, railways, automobile components, renewable energy, mining, bio-technology,

space, thermal power, roads and highways and electronics systems.

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Measures to make it happen:

As part of the Make in India initiative, foreign investment caps in construction will be

eased to enable greater participation in the NDA government’s 100 smart cities project

and affordable housing. Few other steps are:

Process of applying for Industrial License & Industrial Entrepreneur Memorandum

made online on 24×7 basis through eBiz portal.

Validity of Industrial license extended to three years.

Major components of Defence products’ list excluded from industrial licensing.

For further information visit website http://www.makeinindia.gov.in/

About FLIP

FLIP (www.learnwithflip.com), a senior IIM alumni initiative, offers India’s largest range

of e-learning and certification programs, in Banking & Financial Services (BFS). FLIP

certifications are endorsed by India’s leading banks & FIs.

FLIP’s 25,000+ users comprise students & working professionals, banks, FIs, IT

companies, and large corporate houses. With partnerships across the NSE, Finacle of

Infosys, and CRISIL, FLIP is setting a knowledge benchmark across BFS.

Logo of Make in India