make in india essay
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Explanation:
Make in India, a type of Swadeshi movement covering 25 sectors of the economy,[1] was launched by the Government of India on 25 September 2014 to encourage companies to manufacture their products in India and enthuse with dedicated investments into manufacturing.
Make in India
Make In India.png
Country
India
Prime Minister(s)
Narendra Modi
Key people
Ministry of Finance
Launched
25 September 2014; 4 years ago
Status
Active
Website
http://www.makeinindia.com
After the launch, India gave investment commitments worth ₹16.40 lakh crore (US$240 billion) and investment inquiries worth of impration₹1.5 lakh crore (US$22 billion) between September 2014 to February 2016.[2][3][4] As a result, India emerged as the top destination globally in 2015 for foreign direct investment (FDI), surpassing the United States and China, with US$60.1 billion FDI.[5]. As per the current policy, 100% Foreign Direct Investment (FDI) is permitted in all 100 sectors, except for Space industry (74%), defence industry (49%) and Media of India (26%).[6][7] Japan and India had also announced a US$12 billion "Japan-India Make-in-India Special Finance Facility" fund to push investment.[8]
In line with the Make in India, individual states too launched their own local initiatives, such as "Make in Odisha", "Tamil Nadu Global Investors Meet", Vibrant Gujarat, "Happening Haryana" and "Magnetic Maharashtra".[9] India received US $60 billion FDI in FY 2016-17.[10]
The World Bank latest 'Doing Business Report'(DBR, 2019) acknowledges India's jump of 23 positions against its rank of 100 in 2017 to be placed now at 77th rank among 190 countries.[11] By the end of 2017, India had risen 42 places on Ease of doing business index, 32 places World Economic Forum's Global Competitiveness Index, and 19 notches in the Logistics Performance Index,[10] thanks to recent governmental initiatives, which include converges, synergies and enables other important Government of India schemes, such as Bharatmala, Sagarmala, Dedicated Freight Corridors, Industrial corridors, UDAN-RCS, Bharat Broadband Network, Digital India.Data