The honorable Prime Minister of India, Mr. Narendra Modi, had launched the progressive initiative “Make in India” on 25th September, 2014. The ‘Make in India’ global initiative is aimed at promoting the Indian culture and traditions for the expansion of the native designs and innovation. India has been hailed as a vital investment spot and a global destination for the production and manufacturing of the traditional items. These products are then promoted on a global basis by inviting the domestic as well as the foreign investors to India.
The initiative lays the foundation for investment from different sectors of the World to boost the Indian economy and the standards of living of the Indian population on a large scale. This involves the development of the traditional as well as the modern infrastructure, inauguration of new sectors to build grounds for foreign investments and to foster a mutual relationship with the government and the small or large-scale industries.
Since its advent, the ‘Make in India’ initiative by the Prime Minister has gained multifold impetus and has resulted in the development of various sectors. There are as many as 25 sectors defined under this initiative some of which include Automobiles, Biotechnology, Renewable Energy, Railways, Pharmaceuticals, Textiles, Food Processing and many more. An entire workshop was made in the honor of the promotion of the initiative. This was launched on 29th December, 2014 in Vigyan Bhawan, New Delhi. The main aim of the workshop is to prepare and implement the Action Plans for the consecutive years.
Progress Made So Far:
The various concerned departments and the Ministries have presented their progress reports with respect to the successful implementation of the Action Plans. In general, the ‘Make in India’ initiative has observed a massive positive response from the Indian and the worldwide population. Foreign Direct Investment (FDI) has shown an increase of 29% from the period of October 2014 to December 2015. Even the FDI equity inflow has increased by 36%. The initiative has also resulted in the improvement of the business environment. With the recent analysis of the FDI, India has been ranked as the third top prospective economies for 2015-2017.