Make in India: National initiative to transform India into a Global Manufacturing powerhouse, all you must know

The Government of India launched the Make in India initiative to encourage businesses to design, produce, and assemble goods in India and to stimulate targeted investments in manufacturing.  The goal of the policy was to foster a business-friendly atmosphere, build out an effective infrastructure, and open up new markets to foreign investment. The project sought to “turn India into a worldwide design and manufacturing export hub” by focusing on 25 economic areas for job creation and skill enhancement.

“Make in India” has three explicit goals:

• To create 100 million more manufacturing jobs by 2022;
• To boost the manufacturing sector’s growth rate to 12–14% per year;
• To guarantee that the manufacturing sector’s GDP contribution rises to 25% by 2022. (later revised to 2025)

Objectives of Make in India

• Raise  manufacturing sector growth to 12-14% per year.
• Create 100 million additional jobs in the manufacturing sector by 2022.
• Increase in the manufacturing sector’s share in the GDP to 25% by 2022.
• Creating required skill sets among the urban poor and the rural migrants to foster inclusive growth.
• A rise in the domestic value addition and technological depth in the manufacturing sector.
• Having an environmentally-sustainable growth.
• Augmenting the global competitiveness of the Indian manufacturing sector.

Also Read: Sagarmala Project: Ensuring Economic Development through revitalization of Sea Ports, all you must know

Make in India, focuses on 25 sectors of the Indian Economy:

1. Automobile
2. Automobile Components
3. Aviation
4. Bio Technology
5. Chemicals
6. Construction
7. Defence manufacturing
8. Electronic Systems
9. Electrical machinery
10. Food processing
11. IT and BPM
12. Leather
13. Media and Entertainment
14. Mining
15. Oil and Gas
16. Pharmaceuticals
17. Ports and Shipping
18. Railways
19. Renewable Energy
20. Roads and Highways
21. Space
22. Textiles and Garments
23. Thermal Power
24. Tourism and Hospitality
25. Wellness

Also Read: PM Modi launches Rs 100 lakh crore Gati Shakti plan

Make in India schemes

• Skill India
• Startup India
• Digital India
• Pradhan Mantri Jan Dhan Yojana (PMJDY)
• Smart Cities
• AMRUT
• Swachh Bharat Abhiyan
• Sagarmala
• International Solar Alliance (ISA)
• AGNII

Please visit www.makeinindia.com for more details

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