Make In India Program – Objective, Schemes, Sectors & Benefits, मेक इन इंडिया, மேக் இன் இந்தியா: Prime Minister Narendra Modi said, “The Make in India (Make in India) program has been launched to provide employment and self-employment opportunities to Indian youth. The aim of the ‘Make in India’ project is to increase Indian industrial production.
However, industrial production, which was 4.6 per cent in May 2014 before Modi became the Prime Minister, fell to 2.7 per cent in May 2017 after three years in power.
|S.No||Facts About Make in India Scheme||Detailed Information|
|1||Scheme Name||Make In India|
|2||The Person who Launched this Scheme||Indian Prime Minister Narendra Modi|
|3||Date on which the Scheme Launched||25 September 2014|
|4||Total number of Sector which this scheme concentrate||About 25 Sectors|
|5||Average at which India’s industrial production rose||2.7% year over year|
Make In India Program – Objective, Schemes, Sectors & Benefits
The aim is to gain global recognition in India and transform the economy into the world’s manufacturing hub. According to the Mac in India project, railway ports, road and highway transport, vehicles, tourism, biotechnology, construction, power generation, electronics manufacturing, chemistry, military logistics, media, It plans to develop the Indian manufacturing sector by attracting investment in 25 sectors, including media, information technology, pharmaceuticals, oil and gas, mines, renewable energy, textiles, wellness, food, processing, leather goods, automotive components, and thermal power.
|Make in India website||http://www.makeinindia.com/home/|
Which Sectors get benefit under Make In India Initiative?
Sectors of The Economy:
- Auto Components
- Defense manufacturing
- Electrical machinery
- Electronic system design and manufacturing
- Food processing
- IT and BPM
- Media and entertainment
- Oil and gas
- Renewable energy
- Roads and highways
- Thermal Power
- Tourism and Hospitality
What are the Eligibility Criteria & Registration Process For Make In India?
- Technical, and
General Category: In the general category, the applicant company should be an Indian company, the company affiliated with the applicant should not be barred and the applicants should include the trust and individuals of the companies.
Technical Category: In the technical category, vendors must be a manufacturing company and not a trading company, except for OEM participants. Must have at least 2 years of production experience and prior experience in integration if the product includes an integration system.
Financial Category: In the financial sector, the minimum average annual income for the last three years should not be less than 10% of the estimated expenditure. The net worth of the companies should not be less than 5% of the estimated growth and the company should have a minimum credit rating equal to the CRISIL rating.
Benefits of Make in India Scheme
- Improve economic growth.
- Make India a manufacturing hub at the heart of the global economy
- Reduce poverty levels
- Create an eco-friendly product locally.
- Develop the talents of Indian youth
- Indian youth and Indian youth are talented in the international market
- Support our home products
- After the completion of this project, the share of the manufacturing sector will increase to 25% of GDP.
- It will help create a job market for more than 10 million people in India
Disadvantages of Make in India
- Negligence of Agriculture
- Bad Relations with China
- Interest in International Brands
- Manufacturing based Economy
- Disruption of Land
- Loss for Small Entrepreneurs
- Depletion of Natural Resources
Make in India
Setting up factories in India is still very difficult and complicated. Is there a favorable opportunity to start a new business in India? According to the World Bank’s Easy Business Opportunity-A survey, India ranks 130th.