MAKE IN INDIA

1. MAKE IN INDIA An initiative by Government of India www.eduminatti.com

2. Make in India is a scheme launched by the government of India on September 25, 2014, under the guidance of former Prime Minister of India Shree Narendra Damodar Modi. This scheme was introduced for the general population of India to motivate small businessmen and startups/ entrepreneurship to manufacture goods in India. So that India could manage its business from within rather than exporting the finished goods from other countries. The policy aims to establish India as a winged nation that can fly with the wings manufactured in India. It was to create a healthy trade environment so that India could manufacture multiple goods for itself as well as for the world and earn through international currencies. www.eduminatti.com

3. As India is the hub of almost all kinds of raw materials and natural resources but exports its raw material and imports finished goods, that creates a trade imbalance because of the low costs of raw material export and high-cost import of finished goods. This scheme was made to balance the trade and create India as an economically strong and stable state. The investments in the industrial sector will increase due to the benefits the Indian government is providing, and this will, in turn, increase the number of job opportunities within the country. According to schools in India, Through the jobs, a large number of people can manage good secured living conditions that will eventually help in reducing the illiteracy rate and will shrink the gap between the rich and poor, further which will improve the economic status of the nation. www.eduminatti.com

4. OBJECTIVES OF "MAKE IN INDIA" This ‘make in India’ scheme was a very clever approach of the Indian government that smartly stated three main objectives: (a) increasing the growth rate of the manufacturing industry by 12–14% per annum, (b) creating 100 million net additional jobs in the economy by 2022, and (c) ensuring that the manufacturing sector contributes to the GDP of the nation by +25% till 2022. www.eduminatti.com

5. This scheme focuses on the 25 sectors of the Indian economy to aim the establishment of India as the largest manufacturing hub globally as India makes one of the largest contributions in distributing the raw materials globally and also provides a market to every type of industry. Therefore, According to Girls Boarding Schools of India, the government created such a scheme that would attract the different manufacturing companies from around the world to invest in the manufacturing industry in India and bring home foreign currencies. The policy permits all the 100% foreign direct investments (FDI) in all the 100 industries available, except the space industry with 74%, defense with 49%, and journalism industry with 26%. Also, Japan and India have announced US$12 billion in ‘Japan-India Make in India special Finance Facility’ funds to push investments. www.eduminatti.com

6. In hand, with this national scheme, many of the states launched their local ‘make in’ projects (like Make in Odisha, Tamil Nadu Investors Meet, etc.) to bring small craft persons, artisans, and local manufacturers to promote the Indian cultural dialects and traditional goods. This will attract the new generation to work in their family business and take the Indian culture to another level. Also, selling these goods in an international market provides a good selling price of the articles as well as promotes demands of Indian goods in the international market. The scheme has not yet completed its targets, but the scheme lasts till 2022. The manufacturing growth rate is 6.9% per annum currently within the years 2014–15 to 2019–20. According to the report possessed by the World Bank, India is to be placed at 63rd rank among the 190 countries. The data for India in 2017 was that India used to hold rank 100, i.e., India has jumped 23 positions. www.eduminatti.com

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