What was the need of 'Make in India's in our country? Answer in detail.
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Prime Minister Narendra Modi launched the Make in India initiative on September 25, 2014, with the primary goal of making India a global manufacturing hub, by encouraging both multinational as well as domestic companies to manufacture their products within the country.
The major objective behind the initiative is to focus on job creationand skill enhancement in the required sectors of the economy. The initiative also aims at high quality standards and minimizing the impact on the environment. The initiative hopes to attract capital and technological investment in India.
The major objective behind the initiative is to focus on job creationand skill enhancement in the required sectors of the economy. The initiative also aims at high quality standards and minimizing the impact on the environment. The initiative hopes to attract capital and technological investment in India.
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MAKE IN INDIA: THE VISION, NEW PROCESSES, SECTORS, INFRASTRUCTURE AND MINDSET
2 years agoPrime Minister Narendra Modi launched the Make in India initiative with the primary goal of encouraging multinational and domestic companies to manufacture their products in India.
FDIManufacturingNew Processes
Prime Minister Narendra Modi launched the Make in India initiative on September 25, 2014, with the primary goal of making India a global manufacturing hub, by encouraging both multinational as well as domestic companies to manufacture their products within the country. Led by the Department of Industrial Policy and Promotion, the initiative aims to raise the contribution of the manufacturing sector to 25% of the Gross Domestic Product (GDP) by the year 2025 from its current 16%. Make in India has introduced multiple new initiatives, promoting foreign direct investment, implementing intellectual property rights and developing the manufacturing sector.
It targets 25 sectors of the economy which range from automobile to Information Technology (IT) & Business Process Management (BPM), the details of each can be viewed on the official site (www.makeinindia.com).
It also seeks to facilitate job creation, foster innovation, enhance skill development and protect intellectual property. The logo of ‘Make in India’ – a lion made of gear wheels – itself reflects the integral role of manufacturing in government’s vision and national development. The initiative is built on four pillars which are as follows:
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