May 6, 2015: Government has launched the ‘Make in India’ initiative which aims at promoting India as an investment destination and to establish India as a global hub for manufacturing design and innovation. The initiative aims to provide a congenial environment to the business community so that they can devote their effort, resources and energy in productive work. A number of steps have been taken by the Government to improve ease of doing business. Rules and procedures have been simplified and a number of products has been taken off licensing requirements.
The Government intends to provide a robust infrastructure to business through development of various facilities and institutions. Government aims at developing industrial corridors and smart cities to provide a conducive working environment with state-of-the-art technology. Efforts are being made to provide skilled manpower through a national skill development programme. Innovation is encouraged through better management of patent and trademarks registration.
Government has opened up a number of sectors for FDI. The Policy in defence sector has been liberalised and FDI cap has been raised from 26% to 49%. 100% FDI has been allowed in defence sector for modern & state of the art technology on case to case basis. 100% FDI under automatic route has been permitted in construction, operation and maintenance in Rail Infrastructure projects. Further, liberalisation norms for Insurance and Medical Devices has been done.
25 Industry related Ministries are working on sector specific targets, which have been identified by them after detailed discussion with various stakeholders in the National Workshop held on 29th December 2014. Each Ministry has identified action plan for the next one year and three years.
‘Make in India’ program represents an attitudinal shift in how India relates to investors; not as a permit-issuing authority, but as a true business partner. An Investor Facilitation Cell has been created in ‘Invest India’. A dedicated team of the Investor Facilitation Cell is there to guide and assist first-time investors.
This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Nirmala Sitharaman in a written reply in Rajya Sabha.
