Current affairs: Making in India for eight years

Making in India for eight years

27 sectors, including the manufacturing and services sectors, have benefited from the government's flagship project, which has made great progress.

The amount of yearly foreign direct investment has increased by 2x to USD 83 billion. India is anticipated to bring in $100 billion USD in FDI as a result this fiscal year. Over 31 states and union territories, 101 nations have invested in 57 sectors. 

With the help of this programme, the Indian manufacturing sector is seeing an increase in local sourcing and domestic value addition, as well as a greater emphasis on R&D, innovation, and sustainability initiatives.

Under the Make in India initiative, the Production Linked Incentive (PLI) schemes were introduced across 14 important manufacturing sectors. These programmes offer incentives for the improvement of the domestic manufacturing sector, the resilience of supply chains, and the competitiveness and export ability of Indian businesses.

The centerpiece programme has been enhanced by the reduction of compliance requirements through legal amendments, the liberalization of rules and regulations, and the promotion of ease of doing business in the nation.

The National Single Window System (NSWS) was established to offer investors needing permissions and approvals a single digital platform. This portal has been integrated with the various government agencies' current clearance systems. This has increased the country's investment influx.

The country's logistical efficiency has enhanced because to the PM Gati Shakti Programme, allowing for greater access to Indian markets, hubs, and employment prospects at a lower logistical cost.

Based on the Make in India project's objective, the One District One Product effort increased the production of locally made goods from each district in India while boosting the visibility of producers of handicrafts, textiles, textile products, agricultural processed goods, and other goods.

Regarding the Make in India initiative

The Make in India programme, which was launched on September 25, 2014, aims to turn India into a hub for global manufacturing by promoting investments, innovation, better skill development, intellectual property rights, and infrastructure development. It is carried out by the Department for Promotion of Industry and Internal Trade (DPIIT).

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