PRIME MINISTER NEW INITIATIVE MAKE IN INDIA CAMPAIGN
MAKE IN INDIA PROGRAMME.
Prime Minister Narendra Modi launched the "Make In India Campaign" at a high-profile event on September 25,2014.Unveiling the campaign PM Modi said FDI should be understood as"First Development India along with Foreign Direct Investment while encouraging investors not to just look at India as merely a market but also as an opportunity.The PM appointed out that it was crucial to increase the purchasing power of the common man to boost demand and thus spur development.
Key thrust of the programme
Would be on cutting down in delays in manufacturing projects clearance, develop adequate infrastructure and make it easier for companies to do business in India.The 25 key sectors identified under the programme include automobiles, auto components bio-technology, chemicals, defense manufacturing, electronic systems,food processing, leather,mining,oil & gas,ports, railways, ports and textile.
The national programme aims at time-bound project clearances through a single online portal which will be further supported the eight member team dedicated to answering investors queries within 48 hours and addressing key issues including labour laws,skill development and infrastructure.The objective of mega programme is to ensure that manufacturing sectors which contribute around 15% of the country's Gross Domestic products is increased to 25% in next few years.
Speaking to more than 550 top global CEOs along with captains of Indian industry at the event of Vigyan Bhawan, New Delhi on September 25th, PM Modi termed 'Make in India' initiative a lion step to usher in increased manufacturing for the poor and give greater purchasing power in their hands.The mega event was watched live in several cities in India and abroad through video conferencing.
He urged the domestic as well as global Investors not to look at India merely as a market ,but instead see it as an opportunity."When we talk of make in India, we are not just offering a competitive situation and we give you an opportunity to create a huge market for for your product.After all, handsome buyer is equally important as cost effective manufacturing," Modi told a packed audience.However,for making India an investment hub, the first and foremost importantance step would be to create a efficient administrative machinery which would cut down on delays in project clearances.Economists say that India has been very stringent when it comes to giveing procedural and regulatory clearances. Besides a time bound clearance from all regulatory authority would create a conducive environment for business.Economists have noted that with the globalization becoming a reality,Indian manufacturers will have to complete with the best and cheapest the rest of the world has to offer even in the domestic market.
They urged for providing tax concessions to any industry which would set up manufacturing facility in country.Besides a critical aspect is the country's huge small and medium-sized industries which could play a big role in making the country take the next big leap in manufacturing.Stressing that his government has given to priority to skill development, PM Modi had said the government is currently doing mapping for assessing skill manpower demand for specific sectors.He noted that there has to be synchronization between the objectives of the government, academic world, industry and job seekers for ensuring that industry specific skills are imparted.Besides the skill development, labour law flexibility is a key element for the success of this campaign for increasing manufacturing in the country.Economists say that "labour law flexibility does not imply 'hire and fire' policy,it's about providing a sound social safety net to workers."
Although a sound beginning has been made for the Make in India Campaign,now the ball is in the government's court to ensure its success The major objective behind the initiative is to focus on 25 sectors of the economy for job creation and skill enhancement.Some of these sectors are : automobiles, chemicals,IT, pharmaceutical, textile, ports, aviation, leather, tourism and hospitality, wellness, railways,auto components, design manufacturing, renewable energy, mining, biotechnology,and electronics. The initiative hopes to increase GDP growth and tax revenue.The initiative also aims at high quality standards and minimising the impact on the government.The initiative hopes to attract capital and technological investment in India.The campaign was designed by the Wieden+Kennedy (W+K) group which had previously worked on the Incredible India Campaign and had a campaign for the Indian Air Force.
Prime Minister Narendra Modi launched the "Make In India Campaign" at a high-profile event on September 25,2014.Unveiling the campaign PM Modi said FDI should be understood as"First Development India along with Foreign Direct Investment while encouraging investors not to just look at India as merely a market but also as an opportunity.The PM appointed out that it was crucial to increase the purchasing power of the common man to boost demand and thus spur development.
Key thrust of the programme
Would be on cutting down in delays in manufacturing projects clearance, develop adequate infrastructure and make it easier for companies to do business in India.The 25 key sectors identified under the programme include automobiles, auto components bio-technology, chemicals, defense manufacturing, electronic systems,food processing, leather,mining,oil & gas,ports, railways, ports and textile.
The national programme aims at time-bound project clearances through a single online portal which will be further supported the eight member team dedicated to answering investors queries within 48 hours and addressing key issues including labour laws,skill development and infrastructure.The objective of mega programme is to ensure that manufacturing sectors which contribute around 15% of the country's Gross Domestic products is increased to 25% in next few years.
Speaking to more than 550 top global CEOs along with captains of Indian industry at the event of Vigyan Bhawan, New Delhi on September 25th, PM Modi termed 'Make in India' initiative a lion step to usher in increased manufacturing for the poor and give greater purchasing power in their hands.The mega event was watched live in several cities in India and abroad through video conferencing.
He urged the domestic as well as global Investors not to look at India merely as a market ,but instead see it as an opportunity."When we talk of make in India, we are not just offering a competitive situation and we give you an opportunity to create a huge market for for your product.After all, handsome buyer is equally important as cost effective manufacturing," Modi told a packed audience.However,for making India an investment hub, the first and foremost importantance step would be to create a efficient administrative machinery which would cut down on delays in project clearances.Economists say that India has been very stringent when it comes to giveing procedural and regulatory clearances. Besides a time bound clearance from all regulatory authority would create a conducive environment for business.Economists have noted that with the globalization becoming a reality,Indian manufacturers will have to complete with the best and cheapest the rest of the world has to offer even in the domestic market.
They urged for providing tax concessions to any industry which would set up manufacturing facility in country.Besides a critical aspect is the country's huge small and medium-sized industries which could play a big role in making the country take the next big leap in manufacturing.Stressing that his government has given to priority to skill development, PM Modi had said the government is currently doing mapping for assessing skill manpower demand for specific sectors.He noted that there has to be synchronization between the objectives of the government, academic world, industry and job seekers for ensuring that industry specific skills are imparted.Besides the skill development, labour law flexibility is a key element for the success of this campaign for increasing manufacturing in the country.Economists say that "labour law flexibility does not imply 'hire and fire' policy,it's about providing a sound social safety net to workers."
Although a sound beginning has been made for the Make in India Campaign,now the ball is in the government's court to ensure its success The major objective behind the initiative is to focus on 25 sectors of the economy for job creation and skill enhancement.Some of these sectors are : automobiles, chemicals,IT, pharmaceutical, textile, ports, aviation, leather, tourism and hospitality, wellness, railways,auto components, design manufacturing, renewable energy, mining, biotechnology,and electronics. The initiative hopes to increase GDP growth and tax revenue.The initiative also aims at high quality standards and minimising the impact on the government.The initiative hopes to attract capital and technological investment in India.The campaign was designed by the Wieden+Kennedy (W+K) group which had previously worked on the Incredible India Campaign and had a campaign for the Indian Air Force.
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