42 - Concept, Objectives, Initiatives and Schemes of Make in India

Introduction

This tutorial provides a comprehensive overview of the "Make in India" initiative, its concept, objectives, key initiatives, and schemes. Understanding this program is crucial for entrepreneurs, business leaders, and policymakers interested in enhancing manufacturing and investment in India.

Step 1: Understand the Concept of Make in India

• Make in India is a government initiative aimed at boosting the manufacturing sector in India.
• It was launched to encourage both multinational and domestic companies to manufacture their products in India.
• The initiative focuses on enhancing the manufacturing capabilities and creating jobs in various sectors.

Step 2: Identify the Objectives of Make in India

• Increase Manufacturing Share: Aim to increase the manufacturing sector’s contribution to GDP from 16% to 25% by 2025.
• Job Creation: Generate over 100 million jobs in the manufacturing sector.
• Attract Foreign Investments: Create a conducive environment for foreign investors.
• Skill Development: Enhance skills through training programs and initiatives.

Step 3: Explore Key Initiatives Under Make in India

• Start-up India: Promotion of start-ups to boost innovation and job creation.
• Digital India: Emphasizes the growth of digital infrastructure to support manufacturing.
• Skill India: A program aimed at training youth in various skills to meet industry requirements.

Step 4: Review the Schemes Associated with Make in India

• Make in India Week: A platform to showcase various manufacturing capabilities and attract investments.
• Production Linked Incentive Scheme: Offers incentives to companies for increasing their production.
• National Policy on Electronics: Aims to create a robust electronics manufacturing ecosystem in India.

Step 5: Recognize the Impact of Make in India

• Economic Growth: Contributes to the overall economic growth and development of India.
• Enhancing Global Competitiveness: Positions India as a competitive player in the global manufacturing market.
• Employment Opportunities: Provides a wide range of job opportunities in various sectors.

Conclusion

The Make in India initiative is a pivotal part of India's economic strategy. By understanding its concept, objectives, initiatives, and schemes, individuals and businesses can better position themselves to leverage the benefits of this program. Consider exploring opportunities within your industry to engage with Make in India and contribute to its objectives. For further steps, stay updated on new policies and schemes introduced under this initiative.