Pradhan Mantri Make in India Scheme
The Make in India Scheme was launched by our Prime Minister Mr. Narendra Modi in September 2017 to promote the manufacturing sector in India. With the motive to transform India into a global design and manufacturing hub, Make in India was really a tough task to do with critical situations: by 2013. With the help of this Program BRICS Nations (Brazil, Russia, India, China, and South Africa) came to invest money in India. The main motive of this scheme was to get rid of the previous years economical situation in India. With the help of this Scheme Govt. attracted the International Investors to invest in Manufacturing Industries in India.
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Main Aim of Make in India Scheme-
In 2013 India’s GDP just touched the ground when the UPA Govt. left from Power, it was really necessary to take some hard steps to lift the India GDP Rate. Then the ruling party and PM together came with this new idea of this program, the main aim of Make in India Concept was to Grow the Domestic Manufacturing in all the sectors to meet the GDP at an equilibrium point. As per the data, around 15% of Indian GDP is contributed by the Domestic Manufacturing itself. The future of this scheme was to raise this rate up to 25% within a few upcoming years. Also, there was some more aim of this scheme such as- Increasing the Employment, Boost the Foreign Direct Investment (FDI) in Indian Markets.
Process & Plan of Make in India-
After the fall of the Indian Economy, it was necessary to step to bring it back on track as soon as possible. To keep this point in India the Modi Govt. make a plan to project India as a very strong Market in International Business. This pint inspires the international businessmen and investors to invest in Indian Market, also it encourages the Domestic Manufacturers. The next process of the Govt was to target the Sectors to start with and draw a framework for these sectors’ growth and development. The total 25 Sectors were chosen by the Govt to grow them at the optimum level in the upcoming few years. The next process was to promote this program in the international market, for this, the Govt took help of various platforms such as Social Media and promoted this initiative.
A drawback of Make in India Scheme
- While implementing this scheme the biggest problem that govt has to face is to build trust in the middle of manufacture sector.
- Indian poor infrastructure will also become one of the major problems in implementing this plan
- Manufacturing sector demands highly skilled labor whereas India lacks a highly skilled labor force
- At present Indian youth prefer to go overseas for employment as they feel that there are more chances of growth in foreign so it becomes difficult to move the youth towards the country itself.
Make in India 25 Sectors are as Follows-
After so much discussion, analysis the Govt. took the 25 Sectors those would be promoted under this scheme. Though, these sectors have more reach than sectors and international investors attracted with these sectors. With the help of this step, there will be an increment in Employments also. These are the following sectors picked as per this scheme-
- Automobile Components
- Defense Manufacturing
- Electrical Machinery
- Electronic systems
- Food Processing
- Information Technology and Business Process Management
- Media and Entertainment
- Oil and Gas
- Ports and Shipping
- Renewable Technology
- Roads and Highways
- Space and Astronomy
- Textiles and Garments
- Thermal Power
- Tourist and Hospitality
Why Do You need to Invest under Make in India Project?
- The population of 1.31 billion out of which 767 million falls in the age group of 15-64 age group, and also set to become the youngest country with an average age of 29 years by 2025
- 2nd largest Internet users base with 462 million Internet users.
- India has the demonstrable capability to reach near 100% literacy level by 2025
- Considerable Upward mobility among all sections, more 150 million will be added to the middle class by 2025 which will create a Huge consumer market base of US$ 3.6 trillion by 2020 (BCG Report)
- The 3rd largest economy in the world with a size of US$ 8.6 trillion by purchasing power parity (PPP) and is expected to rise to US$ 20 trillion in size by 2025
- Fastest growing economy in the world with a rate of 7.6% in 2015-16
- India has an immediate investment opportunity of $1 trillion (Economic Times)
- India enjoys stable/positive ratings from major credit rating agencies around the globe and has a total foreign exchange reserve of US$ 371 billion as on 30th Sep 16
- 2nd largest Railway Network in the world, used by 23 million travelers every day
- 2nd largest Road Network in the world stretching 3.3 million km
- 12 major ports, 200 notified minor and intermediate ports
Also, Read–> Make in India New Initiatives
How to Register for Make in India- Process
- Investors can easily register themselves for this scheme online by filling the form @ http://www.makeinindia.com/query-form
- You just need this visit on this page and fill the application form
- If you want to ask anything Offline then you can simply visit the Make in India nearby Help Desk and ask them anything about this program before investing in any of these 25 sectors
- You can register a company within a day with the help of Make in India previously which was around 27 Days
NOTE- There is a specific fee to register for this Scheme as per Govt. norms.
You can simply register yourself for latest and updated news about this Scheme’s Projects, Policies, News, Changes online @ http://www.makeinindia.com/register.