Centre's Flagship Program 'Make in India' Completes 8 Years

Context

Recently, the Government of India’s flagship program ‘Make in India’ completed 8 years of path-breaking reforms.

Practice Question

Make in India, the vision of Indians has recently completed its eight years of path-breaking reforms. Critically comment on the journey so far.

About the Make in India Program

• The flagship program was launched in 2014.
• ‘Make in India’ is transforming the country into a leading global manufacturing and investment destination.
• The initiative is an open invitation to potential investors and partners across the globe to participate in the growth story of ‘New India’. 
• It facilitates investment, fosters innovation, enhances skill development, and builds best-in-class manufacturing infrastructure.
• Make In India has substantial accomplishments across 27 sectors, including strategic sectors of manufacturing and services as well.

Sectors to Facilitate Make in India Program

• Foreign Direct Investment (FDI):
  • To attract foreign investments, the Government of India has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route.
  • FDI comes from 101 countries and is invested across 31 UTs and States and 57 sectors in the country.
• Production Linked Incentive (PLI) scheme:
  • PLI across 14 key manufacturing sectors, was launched in 2020-21 as a big boost to the Make in India initiative.
  • The PLI Scheme incentivizes domestic production in strategic growth sectors where India has a comparative advantage.
  • This includes strengthening domestic manufacturing, forming resilient supply chains, making Indian industries more competitive, and boosting export potential.
• USD 10 billion incentive scheme: It was launched to build a semiconductor, display, and design ecosystem in India.
• National Single Window System (NSWS):
  • It was launched to improve the ease-of-doing business by providing a single digital platform to investors for approvals and clearances, in 2021.
• Gatishakti program:
  • The Government has also launched a program for multimodal connectivity to manufacturing zones in the country.
  • It will ensure logistical efficiency in business operations through the creation of infrastructure that improves connectivity.
  • This will enable faster movement of goods and people, enhancing access to markets, hubs, and opportunities, and reducing logistics costs.
• One-District-One-Product (ODOP) initiative:
  • ODOP facilitates the promotion and production of indigenous products from each district of the country.
  • It provides a global platform to the artisans and manufacturers of handloom, handicrafts, textiles, agricultural, and processed products, thereby further contributing to the socio-economic growth of various regions of the country.
• Toy Manufacturing Hub:
  • Several strategic interventions have been taken by the government to,
    • Strengthen domestic designing and manufacturing capabilities in India.
    • Address the import of low-quality and hazardous toys and
    • Enhance domestic manufacturing of toys,
  • Several promotional initiatives including The India Toy Fair 2021, Toycathon 2021, Toy Business League 2022 were conducted to promote indigenous toys to encourage innovation and new-age design to suit global requirements.
• The Public Procurement (Preference to Make in India) Order 2017 was also issued pursuant to Rule 153 (iii) of the General Financial Rules 2017, as an enabling provision, to promote the local industry by providing them preference in public procurement of Goods, Works, and Services.
• Other Measures: Amendments to laws, liberalisation of guidelines and regulations, burdensome compliances to rules and regulations have been reduced, labour reforms, formation of labour codes, quality control orders, steps to promote manufacturing, and a phased manufacturing program.

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Shift in Indian Manufacturing

• The shift in Indian manufacturing includes an increase in domestic value addition & local sourcing, a greater focus on R & D, innovation and sustainability measures.
• The Make in India initiative has been striving to ensure that the business ecosystem in the nation is conducive for investors doing business in India and contributing to the growth and development of the Nation.
• This has been done through a range of reforms that have led to increased investment inflows as well as economic growth.
• With this initiative at the forefront, the businesses in India are aiming that the products that are 'Made in India' are also ‘Made for the World,’ adhering to global standards of quality.

News Source:

https://www.pib.gov.in/PressReleasePage.aspx?PRID=1861929

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