Make In India Program – Objective, Schemes, Sectors & Benefits

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.

Make In India Program
S.NoFacts About Make in India SchemeDetailed Information
1Scheme NameMake In India
2The Person who Launched this Scheme Indian Prime Minister Narendra Modi
3Date on which the Scheme Launched25 September 2014
4Total number of Sector which this scheme concentrateAbout 25 Sectors
5Average at which India’s industrial production rose2.7% 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 websitehttp://www.makeinindia.com/home/

Which Sectors get benefit under Make In India Initiative?

Sectors of The Economy:

  1. Automobiles
  2. Auto Components
  3. Aviation
  4. Biotechnology
  5. Chemicals
  6. Construction
  7. Defense manufacturing
  8. Electrical machinery
  9. Electronic system design and manufacturing
  10. Food processing
  11. IT and BPM
  12. Leather
  13. Media and entertainment
  14. Mining
  15. Oil and gas
  16. Pharmaceuticals 
  17. Ports
  18. Railways
  19. Renewable energy
  20. Roads and highways
  21. Space
  22. Textiles
  23. Thermal Power
  24. Tourism and Hospitality
  25. Wellness

What are the Eligibility Criteria & Registration Process For Make In India?

  1. General,
  2. Technical, and
  3. Financial.

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
  • Pollution
  • Interest in International Brands
  • Manufacturing based Economy
  • Disruption of Land
  • Loss for Small Entrepreneurs
  • Depletion of Natural Resources

Make in India

Final Words

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.

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