New Delhi: Make in India, the flagship programme of the Government of India that aspires to facilitate investment, foster innovation, enhance skill development and build best-in-class manufacturing infrastructure, will complete eight years on Sunday, September 25.
Launched in 2014 under the leadership of the Prime Minister Narendra Modi, ‘Make in India’ is transforming the country into a leading global manufacturing and investment destination.
A statement released by the Ministry of Commerce & Industry said, “The initiative is an open invitation to potential investors and partners across the globe to participate in the growth story of ‘New India’. Make In India has substantial accomplishments across 27 sectors. These include strategic sectors of manufacturing and services as well.”
It added, that in order to attract foreign investments, the Government of India has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route. “FDI inflows in India stood at US $ 45.15 billion in 2014-2015 and have since consecutively reached record FDI inflows for eight years. The year 2021-22 recorded the highest ever FDI at $83.6 billion. This FDI has come from 101 countries, and invested across 31 UTs and States and 57 sectors in the country. On the back of economic reforms and Ease of Doing Business in recent years, India is on track to attract US$ 100 Bn FDI in the current FY,” the statement said.
“Production Linked Incentive (PLI) scheme across 14 key manufacturing sectors, was launched in 2020-21 as a big boost to Make in India initiative. The PLI Scheme incentivises domestic production in strategic growth sectors where India has comparative advantage. This includes strengthening domestic manufacturing, forming resilient supply chains, making Indian industries more competitive and boosting the export potential. PLI Scheme is expected to generate significant gains for production and employment, with benefits extending to the MSME eco-system,” the statement said.
