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21 Feb
Softqube

All about Make In India

The buzz around us – Make In India. Be it Radio, Television, Newspaper, Social Media or any other form of online as well offline communication; everywhere we can hear the word “ Make in India”. So, what this Make in India is? It is something that discusses about things/ products made in India! Or is it something about promoting products Made in India like as “Made in China”!

Am I going off the track? No, these are the questions a layman will have at first when listening to the word “MAKE IN INDIA”. To have deep insight about this project, it is necessary to go in depth of it and know what exactly it is.

Make In India

Well, then who will dig deeper; you, me or someone. The thing is if we want to know something new; we must not keep waiting for someone to come and give us the details, instead we must start searching about the same.

But, don’t you take that pain because I have already taken it only for you my lovely readers

So, here via this blog post; I am discussing with you the Journey of “MAKE in INDIA”. Let’s start:

What is MII(Make in India)?

Actually when I write MII, it may confuse you; it is nothing just a short form of this name because I was unable to find any synonym hence tried this. Well, coming back to the point; this project is an initiative taken by Government of India to boost all the multi-national as well as domestic companies of India to get their products manufactured in India itself instead of getting them developed in foreign markets.

This initiative is the idea of a unique brain; our beloved Prime Minister Narendra Modi. The main aim of this is to make India successful for Foreign Direct Investment and perform much better. Based on this, a workshop was arranged by Department of industrial Policy and Promotion where Prime Minister Sir along with cabinet ministers was present.

Which sectors will be included in this campaign?

This initiative was taken with a view to attract capital and technological investment in India. 25 Sectors of India economy will be present here. A separate web portal for the same is available. Before introducing this project, foreign equity caps were relaxed in various sectors.

License applications were made available online and its validity was extended to three years. 49% FDI was allotted to defence sector and 100% in Railway where the previous FDI was 26% and 0% respectively in both sectors.

What is its Impact?

From September 2014 to November 2015, proposals of up to $18 billion (US dollars) i.e. 1.20 lakh crore were received from those companies who were willing to manufacture electronic gadgets in India. 100% FDI granted in various sectors excluding space, defence and new media.

Year 2015
Impact of Make In India
February
  • Spice Group showed its interest to establish phone manufacturing unit in U.P. with investment of 5 billion.
  • Samsung’s President& CEO decided to set up MSME-Samsung Technical Schools in India.
January
  • Hitachi promised to expand its team from 10000 to 13000 employees.
  • New research opened by Huawei in Bangalore.
March
NA
April
NA
May
NA
June
LH Aviation signed an MoU with OIS Advanced Technologies to set up a manufacturing plant in India.
July
NA
August
  • Xiaomi introduced its first manufacturing unit.
  • Foxconn decided to invest over US $ 5 billion to create R & D.
September
NA
October
Defence Helicopters to be assembled in India said James McNerney,Chairman of Boeing.
November
  • Taiwan’s Wistron Corp decided to set up new factory in UttarPradesh, Noida.
  • Ministry of Railways signed formal agreements with Alstom and GE Transport.
December
  • Qualcom announced to begin “Design in India” programme to support up to 10 Indian hardware companies.
  • Micromax announced to set up three new manufacturing units in Rajasthan, Telangana and Andhra Pradesh.
  • Japan to provide US$12billion fund for all projects of Make in India. This is known as “Japan- India Make in India Special Finance Facility.

Make in India Week:

The above mentioned table showcased the events that took place under Make in India Headline. From 13th Feb 2016 onwards, Make in India Week was held in Mumbai at Bandra – Kurla Complex. It was attended by 2500 international and 8000 domestic, foreign government delegations from 68 countries.

During the event closing ceremony; DIPP Secretary revealed that the event got good response with 15.2 lakh crore worth of investment commitments and inquiries worth 1.5 lakh crore.

In this event, Narendra Modi’s slogan “Zero Defect Zero Effect” was highlighted which means that the process through which products are to be developed is environment friendly and also these products have no defects.
The campaign promoted some utterly butterly delicious foods of various states like as Gushtaba of Kashmir, chicken Curry from Punjab, Khandvi Khakhra from Gujarat, Puran Poli of Maharashtra, Kebab from Uttarpradesh etc.

Take Away:

On a final note, we can say that this is an initiative by Prime Minister Narendra Modi to increase manufacturing and production hubs in India with a view to boost up employment opportunities thus reducing product imports and making efforts to generate more finance which will ultimately help India to develop.

Hope, we were successful in providing you useful information about the project. Do let us know if we have missed something

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