Make in India
The Make in India initiative was launched on September 25, 2014, to facilitate investment, foster innovation, building best in class infrastructure, and making India a hub for manufacturing, design, and innovation.
The primary objective of this initiative is to attract investments from across the globe and strengthen India’s manufacturing sector.
It is being led by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India
The Make in India programme is very important for the economic growth of India as it aims at utilising the existing Indian talent base, creating additional employment opportunities and empowering secondary and tertiary sector.
The dedicated website for this initiative (www.makeinindia.com) not only showcases the 25 sectors but also puts focus on opportunities, policies and Ease of Doing Business.
Since its launch, Make in India has made significant achievements and is now focusing on 27 sectors under Make in India 2.0.
Make in India initiative was introduced in order to incentivize and encourage MSMEs.
Now DPIIT is working closely with 24 sub-sectors which have been chosen keeping in mind the Indian industries strengths and competitive edge, need for import substitution, potential for export and increased employability. These sub-sectors are
Air Conditioners, Electronics, Textiles, Furniture, Leather & Footwear, Ready to Eat, Fisheries, Agri-Produce (Potato & Mango), Agro Chemicals, Auto Components, Aluminum, Steel, EV Components and Integrated Circuits, Ethanol, Ceramics & Glass, Set Top Boxes, Robotics, Drones, Televisions, Close Circuit Cameras, Toys, Medical Devices, Sporting Goods & Gym Equipment and Bicycles & E-cycles.
The central government introduced the production-linked incentive (PLI) scheme in March 2020 to make India a competitive player in global markets and boost domestic manufacturing & exports.
The PLI scheme aims to give companies incentives on incremental sales of products manufactured in domestic units.
The scheme invites foreign companies to set up units in India; however, it also aims to encourage local companies to set up or expand existing manufacturing units, generate more employment and reduce the country’s reliance on imports.
The Production-Linked Incentive (PLI) scheme covers 14 sectors.
The PLI scheme covers key sectors like pharmaceuticals, medical devices, large-scale electronics manufacturing, food products, solar EV modules, automobiles/auto components, ACC battery, textile products , specialty steel etc.