MAKE IN INDIA

Origin: This initiative has its origin in the Prime Minister’s Independence Day speech where he gave a clarion call to ‘Make in India’policy.

Announcement: On 15th August 2014

Launched: On 25th September 2014 by Our Honorable Prime Minister Sri Narendra Modi & Governed by Gov. of India

Objective 

  1. Ultimate objective is to make India a renowned manufacturing hub for key sectors. Companies across the globe would be invited to make investment and set up factories and expand their facilities in India
  2. Using India’s highly talented and skilled manpower to create world class zero defect products.

Aim 

  1. To convert India into a global manufacturing hub
    2. To help create jobs and boost economic growth.
    3. To urge both local and foreign companies to invest in India.

Key Elements –

  1. 25 sectors to work on initially
  2.  24 manufacturing cities identified
  3. 10% subsidy on production of equipment’s of pollution control, reducing energy consumption & water conservation
  4. To speed up the decisions
  5. Time bound resolving of issues within 48 hours; unaddressed queries to go to DIPP secy, & to be resolved within 24 hours.
  6. A digital campaign just like “Incredible India to go global.
  7. Inclusion of all states to mobilize the policy, ministries and local bodies

List of 25 Sectors Involved –

Automobiles Leather Aviation Biotechnology Chemical
Food Processing Defence Manufacturing Automobile Components Electrical Machinery Electronic Systems
Roads and Highways IT and BPM Textile Garments Media and Entertainment Tourism and Hospitality
Mining Pharmaceuticals Ports Railways Renewable Energy
Construction Space Wellness Thermal Power Oil and Gas

 

INCENTIVES OFFERED FOR MANUFACTURING units under Make In India.

  • Sector specific incentives
  • Area based incentives
  • Incentives under income tax act
  • Investment Allowance
  • Deductions
  • R&D Incentives
  • Export Incentives
  • State Incentives