The make in India initiative was launched by Prime Minister Narendra Modi on September 25, 2014, with the primary good of making India a global manufacturing hub, by encouraging both multinational as well as domestic companies to manufacture their products within the country.
Led by the Department of Industrial Policy and promotion, the initiative aims to raise the contribution of the manufacturing sector to 25% of the Gross Domestic Product (GDP) by the year 2020 from its current 16%. Make in India has introduced multiple new initiatives, promoting foreign direct investment, implementing intellectual property rights and developing the manufacturing sector. It targets 25 sectors of the economy which ranges from automobile to Information Technology and Business Process Management (BPM). It also seeks to facilitate job creation, foster innovation, enhance skill development and protect intellectual property. The initiative is built on four pillars which are New Processes, New Infrastructure New Sectors and New Ministers.
‘Zero defect Zero effect is a key phrase associated with Make in India campaign, which explains that the products made in India would have zero defect and zero effect on the environment, ensuring sustainable development.
However, to succeed the government has to take some steps key areas of focus are simple and predictable tax regime, simple labour, laws skilling of the labours, higher case of doing business, absence of red-tapism etc. Besides these, the initiative must have greater linkages with other initiatives of the government, like SKILL INDIA START-UP INDIA, DIGITAL INDIA etc. The campaign has already made considerable success and if it moves forward with this pace it will make India a global hub of manufacturing.