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
- 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
- Using India’s highly talented and skilled manpower to create world class zero defect products.
- 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 –
- 25 sectors to work on initially
- 24 manufacturing cities identified
- 10% subsidy on production of equipment’s of pollution control, reducing energy consumption & water conservation
- To speed up the decisions
- Time bound resolving of issues within 48 hours; unaddressed queries to go to DIPP secy, & to be resolved within 24 hours.
- A digital campaign just like “Incredible India to go global.
- Inclusion of all states to mobilize the policy, ministries and local bodies
List of 25 Sectors Involved –
|Food Processing||Defence Manufacturing||Automobile Components||Electrical Machinery||Electronic Systems|
|Roads and Highways||IT and BPM||Textile Garments||Media and Entertainment||Tourism and Hospitality|
|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
- R&D Incentives
- Export Incentives
- State Incentives