Make in India-New Policy Initiative
“Make in India” is an initiative program of the government of India to conduct companies to manufacture there in India and On, 25 September 2014 it is launched by prime minister Narendra Modi at Vigyan Bhawan.
Workshop was organized by the Department of Industrial policy and promotion which was attend by Narendra Modi, Cabinet ministers in 29 December 2014.
The Prime Minister of India Narendra Modi said that India is only country in the world which is offers unique combination like democracy, demography and demand. Then He said new government was taking initiative for skill development.
Narendra Modi noted low of India on the “Ease of doing business” He is say about infrastructure of future including i-way besides highways.
The Make in India initiative aims at identifying select domestic companies being leadership in innovation and new technology for turning them into global champions.
The focus will be on increasing green and advanced manufacturing and helping these companies and become as important part of the global.
The Government has 25 key sectors has identified which country has become world leader. He is release brochure about sector like that sector is automobiles, chemicals, IT, ports, aviation, hospitality, railways will provide details of growth drivers, sector specific FDI and other policies
This initiative increase GDP growth and tax revenue and its goal at high quality standard and decreasing the impact on the environment. The initiative hopes to attract capital and technological investment in India.
Brochures on the 25 sectors and a web portal were released. In August 2014, the cabinet of India allowed 49% FDI and 100% in railways infrastructure.
- Manufacturing sector led growth of marked While India rank 7th in terms of nominal GDP, so its rank is 131 in GDP.
- Increase the employment and purchasing common power of India and expand the consumer base for companies.
- India's balance of payment will improve growth of Export.
- Make in India will focus on export promotion measures and measure is artificially undervaluing the rupee.
Make in India is an aspiring project, but it is one that India and continue its growth momentum. It is possible to make India the powerhouse of manufacturing sector in the world.