Make in India campaign is a new plan launched by the Prime Minister of India, Narendra Modi, to give foreign investors a chance to invest in India in number of businesses.
Make in India is an initiative of the Government of India to encourage multi-national, as well as domestic, companies to manufacture their products in India.
It is an initiative campaign run by the Government of India to cheer up multinational companies as well as domestic companies at national and international level in order to manufacture products in India.
It is the effort made by the PM to bring employment in India. The initiative hopes to attract capital and technological investment in India.
The major objective behind the initiative is to focus on job creation and skill enhancement in 25 sectors of the economy.
The initiative also aims at high quality standards and minimising the impact on the environment.
The national programme aims at time-bound project clearances through a single online portal which will be further supported by the eight-member team dedicated to answering investor queries within 48 hours and
addressing key issues including labor laws, skill development and infrastructure.
The importance of domestic manufacturing with foreign investment in reducing trade frictions with other countries is at present ignored or underestimated.
As a corollary, the focus on world-class domestic manufacturing may also be the best way to cope with globalisation and to maximise the possible benefits from it.
The size of our domestic market and the abundant availability of skilled and technical manpower at low cost is a leverage that we need to put to use consciously to induce foreign investors to make India as a manufacturing hub in their operations.
Make in India campaign provides all the top investors a favorable opportunity to come in India and invest in businesses from electrical to electronics, from automobiles to agro value addition, from satellite to submarine, etc.
At the Vigyan Bhawan in New Delhi, PM made an announcement regarding make in India plan to boost economy in the presence of top businessmen such as Mukesh Ambani, Kumar Mangalam Birla, Cyrus Mistry, Azim Premji, etc.
The Prime Minister acknowledged that India being ranked low on the ‘ease of doing business’ ranking by World Bank and added that he has started to sensitize the Government officials in this regard.
On his recentmeeting with World Bank President Jim Yong Kim, Modi said “World Bank President was also expressing this worry. Probably we were 135th in the world at that time.
This plan was launched in the presence of top CEOs from India Inc, ambassadors, international industry leaders, ministers, government officials, etc.
This campaign has targeted to make a call to top companies of well identified countries. Some selected domestic companies who are leading in the field of innovation and new technologies have also been invited.
There is a special unit in the Commerce Ministry named “Invest India” which helps in guiding all the top foreign investors in terms of regulatory and policy issues as well as assists in obtaining the regulatory clearances.