In News:

The “Make in India” initiative has completed 10 years. It was launched by Prime Minister Narendra Modi on September 25, 2014.

KEY TAKEAWAYS:

• The ‘Make in India’ campaign aims to facilitate investment, foster innovation, enhance skill development, protect intellectual property & build best in class manufacturing infrastructure.
• “Make in India” was designed to transform India into a global hub for design and manufacturing.
• Seen as an important ‘Vocal for Local’ initiative, its objective is twofold. Firstly, to boost India’s manufacturing capabilities and secondly to showcase its industrial potential on a global stage.
• The “Make in India 2.0” phase encompassing 27 sectors – both manufacturing and service. 

4 pillars of “Make in India” initiative: 

• New Processes: To enhance the business environment, promote entrepreneurship and startups – ‘ease of doing business’ became a crucial factor.
• New Infrastructure: Development of industrial corridors, smart cities, integrating state-of-the-art technology and high-speed communication to create world-class infrastructure, improving intellectual property rights (IPR) infrastructure etc. 
• New Sectors: Opening of Foreign Direct Investment (FDI) in sectors like Defence Production, Insurance, Medical Devices, Construction, and Railway infrastructure. 
• New Mindset: In order to support industrial growth and innovation – the government embraced a role as a facilitator rather than a regulator. The Government partners with industry in the economic development of the country. 

Key Initiatives to enable Make in India initiative

Production linked Incentive (PLI) Schemes: The primary goals of the PLI Schemes are to attract substantial investments, incorporate advanced technology, and ensure operational efficiency. These schemes cover 14 key sectors aimed at fostering investment in cutting-edge technology and promoting global competitiveness.

PM GatiShakti: It is a strategic initiative aimed at achieving Aatmanirbhar Bharat and a US $5 trillion economy by 2025 through the creation of multimodal and last-mile connectivity infrastructure. PM GatiShakti is a transformative approach for economic growth and sustainable development. The approach is driven by 7 engines, namely:

1. Railways
2. Roads
3. Ports
4. Waterways
5. Airports
6. Mass Transport
7. Logistics Infrastructure

Semiconductor Ecosystem Development: It encompasses four key schemes:

1. Modified Scheme for Setting Up Semiconductor Fabs in India
2. Modified Scheme for Setting Up Display Fabs in India
3. Modified Scheme for Setting Up Compound Semiconductors, Silicon Photonics, Sensors Fabs, and Discrete Semiconductors, along with Semiconductor Assembly, Testing, Marking, and Packaging (ATMP) / OSAT Facilities in India
4. Design Linked Incentive (DLI) Scheme

It aims to foster the development of a sustainable semiconductor and display ecosystem in the country. 

The Semicon India Programme aims to provide a significant impetus to semiconductor and display manufacturing by facilitating capital support and promoting technological collaborations. 

National Logistics Policy: Introduced to complement the PM GatiShakti National Master Plan. It focusses on enhancing the soft infrastructure of India’s logistics sector. 

The Comprehensive Logistics Action Plan (CLAP) was rolled out. The key areas which it addresses are logistics systems, standardization, human resource development, state engagement, and logistics parks.

The National Industrial Corridor Development Programme: Aims to create “Smart Cities” and advanced industrial hubs.

Startup India: Several programs aimed at supporting entrepreneurs, building a robust startup ecosystem, and transforming India into a country of job creators instead of job seekers were rolled out.

Implementation of the Goods and Services Tax (GST): As India’s tax reforms, it is seen as crucial in the context of the Make in India initiative.

Unified Payments Interface: For India’s digital economy growth, it is seen as one of the key initiatives to enable ease of doing business. 

Ease of Doing Business: The efforts aim to simplify regulations, reduce bureaucratic hurdles, and create a more business-friendly environment, significantly boosting investor confidence and supporting the objectives of the Make in India initiative.