Make in India Initiative 2.0
The Government of India informed Lok Sabha about the Make in India Initiative 2.0. Make in India initiative was launched along with action plans prepared for various sectors with the objective of facilitating investment, fostering innovation, building best in class manufacturing infrastructure, making it easy to do business and enhancing skill development.
About the Make in India Initiative
Government of India’s Make in India initiative is a major national programme, designed to facilitate investment, foster innovation, enhance skill development, protect intellectual property and build best in class manufacturing infrastructure in the country. It was launched in 2014 by the Government of India.
Aim of the Make in India Initiative
The Initiative aimed at creating a conducive environment for investment, modern and efficient infrastructure, opening up new sectors for foreign investment and forging a partnership between government and industry through positive mindset.
Significance of the Make in India Initiative
The Make in India Initiative play a significant role to developing the Indian Economy. The objective of the Scheme are
- To increase the manufacturing sector’s growth rate to 12-14% per annum in order to increase the sector’s share in the economy;
- To create 100 million additional manufacturing jobs in the economy by 2022; and
- To ensure that the manufacturing sector’s contribution to GDP is increased to 25% by 2022 (revised to 2025) from the current 16%.
Make in India 2.0
- Make in India initiative has been reviewed and is now focusing on 27 sectors under Make in India 2.0.
- It presently focuses on 27 sectors with a special focus on ten champion sectors including; 1. capital goods, 2. auto, 3. defence, 4. pharma, 5. renewable energy, 6. biotechnology, 7. chemicals, 8. leather, 9. textiles, 10. food processing.
- These sectors have the potential to become global champions and drive double-digit growth in manufacturing.
- In manufacturing, the action plans are coordinated by the Department for Promotion of Industry and Internal Trade (DPIIT). In services, action plans are coordinated by the Department of Commerce.
