Make in India: Objective, Benefits, Features
Ultimate objective 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 and use India’s highly talented and skilled manpower to create world class zero defect products. Mission is to manufacture in India and sell the products worldwide.
India’s honourable prime minister Shri. Narendra Modi will make an short investment pitch at Vigyan Bhavan Convention Center in New Delhi on 25th Sep. 2014.
How this would be achieved
- Skill development programs would be launched especially for people from rural and poor ones from urban cities
- 25 key sectors have been short listed such as telecommunications, power, automobile, tourism, pharmaceuticals and others
- Individuals aged 15-35 years would get high quality training in the following key areas such as welding, masonries, painting, nursing to help elder people
- Skill certifications would be given to make training process, a standard. Currently manufacturing in India suffers due to low productivity rigid laws and poor infrastructure resulting in low quality products getting manufactured.
- Over 1000 training centres would be opened across India in the next 2 years
- For companies setting up factories, “Invest India” unit is being set-up in the commerce department which would be available 24/7. The main focus of this department would be to make doing business in India easy by making all the approval processes simpler and resolving the issues in getting regulatory clearances within 48-72 hours so that clearances are fast. To make this possible, special team would be available to answer all the queries related to help foreign investors/companies.
- The e-biz portal would be soon launched which would be real time and available 24*7
- This will help in creating job market for over 10 million people in India
- Manufacturing done here would boost India’s GDP, trade and economic growth
- Launch of Make in India campaign will take place on 25th Sep 2014
- The sales pitch would be made available in capital cities in India and countries with time zone similar to India
- Over 15000 crores would be spent to open the training centres
- Translation of prime minister’s speech would be available in multiple languages German, French, Japanese and Russian
Top corporate honchos from India and world (US, Canada, Australia, Europe and many others) would be attending this grand launch. Here is the small list of companies whose top leaders would be attending:
- Tata Group
- Reliance Industries
- Vodafone and many more.
Author Bio – Chandra Mehta:
This article has been written by Chandra Mehta.
Chandra is a seasoned banker with 35+ years of experience in banking and financial services industry. He’s a retired banker and has served as Chief Manager and Assistant Vice President in State Bank of India/or its subsidiaries.
He has authored many articles on this site (allonmoney.com).
He can be reached at [email protected]. You may also visit his LinkedIn profile.
I am Nikesh Mehta, owner and writer of this site.
I’m an analytics and digital marketing professional and also love writing on finance and technology industry during my spare time. I’ve done online course in Financial Markets and Investment Strategy from Indian School of Business. I can be reached at [email protected] or LinkedIn profile.