Here is what you should know about the grand Make in India and its objectives, benefits and results
What is make in India?
Prime Minister Narendra Modi launched the “Make in India” program on September 25, 2014 at a function organized at Vigyan Bhawan. The main objectives behind the initiative are to focus on skill development in 25 sectors of the job creation and economy. The aim of “Make in India” is to reduce the impact on high quality standards and the environment. Make in India is hoping to attract capital and technology investment in India.
The purpose of Make in India is to make the country a manufacturing hub. Both the domestic and foreign investors have been originally promised to provide a favorable environment to create employment opportunities by converting strong Indian population of 125 crores into a manufacturing center. This will have a profound impact in a serious business and includes two inherent elements needed for any innovation – to exploit new routes or opportunities and to meet the challenges of keeping the right balance.
‘Make in India’ can actually be seen as an equitable mix of economic discretion and administrative reforms.
Make in India Logo
Prime Minister Narendra Modi’s ambitious Mission, Make in India, has been created by a foreign company. This logo shows the goal of making the country a manufacturing hub. The logo of this popular scheme of India has been made by the foreign company, it has come under the Right to Information Act (RTI).
Replying to the question of Madhya Pradesh activist Chandra Shekhar Gaur, Union Commerce and Industry Ministry said that Weiden Plus Kennedy India Limited was selected to design the logo of Make in India which had designed the logo.
Objectives of Make in India:
Aim to increase the manufacturing sector by 12-14% annually in comparison to the medium term.
Increase the share of manufacturing in the country’s GDP by 2022 to 16% to 25%.
Creating 100 million additional jobs by 2022 in manufacturing sector
Creating appropriate skills for overall development in rural migrants and urban poor people.
Increasing technical knowledge in domestic value addition and manufacturing.
Increasing the global competitiveness of Indian manufacturing sector
Ensuring sustainability of development in relation to the Indian specially environment.
Make in India focuses on the following twenty-five areas:
- Automobile component
- Defense manufacturing
- Electrical machinery
- Electronic systems
- Food Processing
- Information Technology and Business Process Management
- Media and Entertainment
- Oil and gas
- Port and shipping
- Renewable energy
- Road and highway
- Space and astronomy
- Textiles & Clothing
- Thermal power
- Tourism and Hospitality
Profit and impact of Make in India:
In January 2015, Spice Group announced a $ 75.16 million investment to set up a manufacturing unit for budget smartphones in Uttar Pradesh.
Establishment of a new R & D in Huawei in Bengaluru:
In February 2015 Chinese technology company Huawei has made a big investment of US $ 170 million to set up a new research and development (R & D) campus in Bangalore. 5,000 engineers can be accommodated in this premises spread over 20 acres.
In March 2015, Fiat’s manufacturing component, Magnie Mareli, started operations to manufacture Electronic Fuel Injection (EFI) in a joint venture with Hero Motocorp, a leading two-wheeler manufacturer in Manesar.
In May 2015, Hyundai Heavy Industries partnered with the help of Hindustan Shipyard Limited, Visakhapatnam to build naval ships in India, with this assistance, the shipbuilding industry of India will go a long way.
The 100% wholly-owned subsidiary of Daimler India Commercial Vehicle Pvt Ltd (DICV), Daimler AG, Stuttgart, Germany, announced the inauguration of its new bus construction facility in Orgam in Tamilnadu and also to Bharat Benz and Mercedes-Benz buses. Unveiled |
According to the World Economic Forum (Devos) report, India, tourism and travel reached 65 to 52 in the competitive index.
In June 2015, French aircraft manufacturing company LH Aviation signed Memorandum of Understanding (MoU) with Indian OIS Advanced Technologies (OIS-AT) to build strategic drones in India.
First place in Baseline Profitability Index 2015
India reached the first position in the Baseline Profitability Index 2015 in 2015. In 2014, India remained 6th in the Baseline Profitability Index.
Mercedes-Benz India inaugurated its second manufacturing facility in Chakan, which would double the plant’s capacity of 20,000 units per year. The total investment is more than $ 148 million US Dollars.
In August 2015, Taiwan’s Foxcon, the world’s largest contract electronics manufacturer, is the key supplier for Apple Inc., signed an agreement with Maharashtra to invest US $ 5 billion in five years in the semiconductor manufacturing facility.
Lenovo and Motorola Investment
Another boost for electronics manufacturing, Lenovo and Motorola took advantage of this while announcing their plans to build a smartphone in India at 40,000 square feet factory in Sriperumbudur, near Chennai.
Xiamy started local production in Visakhapatnam under the Make in India program in August 2015. The plant specially assembles the Xiamem phone and is the second manufacturing unit of Xiamen outside China.
Amazon, the world’s largest Internet retailer, has opened a warehouse in Pune in September 2015, in which 5 million cubic feet is in place.
The seventh most valuable brand in the world
India became the seventh most valuable nation brand in the world, with its brand value increasing by 32 percent to $ 2.1 billion in 2015.
In November 2015, India attracted investment of US $ 18 billion from September 2014, which has seen the country being seen as a potential electronics manufacturing powerhouse. Some prominent people, including Samsung, Bosch, Philips, LG and Flextronics, have shown keen interest in making their manufacturing bases here.
International Tractors Ltd (Sonalika) has invested USD 75 million to set up its new Hoshiarpur plant in Punjab, which has the capacity to generate 0.2 million tractors per year. The plant will have a single production line for all types and models and an engine assembly line for 500 engines / day.
Heavy investment of Alstom and GE
On November 30, 2015, Ministry of Railways, Alstom and GE Transport signed formal agreements for locomotive construction factories in Madhepura to install 400 billion rupees (US $ 5.9 billion).