Things you should know about ‘Make In India’
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- Things you should know about âMake In Indiaâ
- Background â¢ The aim is to take the share of manufacturing in the countryâs GDP from a stagnant 16% currently to 25% by 2022, as stated in the National Manufacturing Policy, and to create 100 million jobs by 2022. â¢ India had fallen to a lowly 134th rank out of 189 countries this year (three down from 2013) in the World Bankâs Ease of Doing Business rankings. â¢ Currently, it takes 12 procedures and 27 days to start business, 35 procedures and 168 days to get construction permits and 1420 days to enforce contracts in India.
- Make In India: Origin â¢ This initiative has its origin in the Prime Minister's Independence Day speech where he gave a clarion call to 'Make In India' and 'Zero Defect; Zero Effect' policy.
- Make In India: Aim â¢ To convert India into a global manufacturing hub, to help create jobs and boost economic growth. â¢ To urge both local and foreign companies to invest in India.
- Make In India: Logo â¢ The logo is a striding lion made of cogs, symbolizing strength, manufacturing and national pride.
- Make In India: Behind The Scenes â¢ It is designed by a creative agency known as âWieden and Kennedyâ â¢ The backend is an agency called âInvest Indiaâ, which is a joint venture between industry chamber FICCI (Federation of Indian Chambers of Commerce and Industry: 51% equity), the central governmentâs DIPP (Department of Industrial Promotion and Policy: 35% Equity), and state governments, each of whom hold 0.5% equity.
- 5 things âMake In Indiaâ will do
- #1 Guide Foreign Investors Invest India will act as the first reference point for guiding foreign investors on all aspects of regulatory and policy issues and to assist them in obtaining regulatory clearances.
- #2 Assistance to Foreign Investors Investor facilitation cell will provide assistance to the foreign investors from the time of their arrival in the country to the time of their departure, with focus on green and advanced manufacturing and helping these companies to become an important part of the global value chain.
- #3 Prompt Response Prospective investors can post questions on the Make In India portal and they will be answered by a panel of experts within 72 hours.
- #4 Provide Relevant Information Visitors registered on the website or raising queries will be followed up with relevant information and newsletter.
- #5 Proactive Approach A pro-active approach will be deployed to track visitors for their geographical location, interest and real-time user behavior.
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