Make in India
From Wikipedia, the free encyclopedia
Make in India, a type of Swadeshi movement covering 25 sectors of economy, was launched by the Government of India in 25 September 2014 to encourage companies to manufacture their products in India. As per the current policy, 100% FDI is permitted in all the 25 sectors, except for space (74%), defence (49%) and news media (26%). Japan and India announced a US$12 billion “Japan-India Make-in-India Special Finance Facility” fund.
After the launch, India received ₹16.40 lakh crore (US$250 billion) worth of investment commitments and investment inquiries worth ₹1.5 lakh crore (US$23 billion) between September 2014 to February 2016. As a result, India emerged as the top destination globally in 2015 for foreign direct investment (FDI), surpassing the USA and China, with US$60.1 billion FDI. Several states launched their own Make in India initiatives, such as Vibrant Gujarat, “Make in Haryana” and “Make in Maharashtra”. India received US $60 billion FDI in FY 2016-17.
Combined with other initiatives by the end of 2017, India rose 42 places on Ease of doing business index, 32 places World Economic Forum’s Global Competitiveness Index, and 19 notches in the Logistics Performance Index.
This initiative converges, synergises and enables other important Government of India schemes, such as Bharatmala, Sagarmala, Dedicated Freight Corridors, Industrial corridors, UDAN-RCS, BharatNet and Digital India.