Things you should know about ‘Make In India’
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Transcript of Things you should know about ‘Make In India’
Background
• The aim is to take the share of manufacturing in the country’s GDP
from a stagnant 16% currently to 25% by 2022, as stated in the
National Manufacturing Policy, and to create 100 million jobs by 2022.
• India had fallen to a lowly 134th rank out of 189 countries this year
(three down from 2013) in the World Bank’s Ease of Doing Business
rankings.
• Currently, it takes 12 procedures and 27 days to start business, 35
procedures and 168 days to get construction permits and 1420 days to
enforce contracts in India.
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' and 'Zero
Defect; Zero Effect' policy.
Make In India: Aim
• To convert India into a global manufacturing hub, to help create jobs
and boost economic growth.
• To urge both local and foreign companies to invest in India.
Make In India: Logo
• The logo is a striding lion made of cogs, symbolizing strength,
manufacturing and national pride.
Make In India: Behind The Scenes
• It is designed by a creative agency known as ‘Wieden and Kennedy’
• The backend is an agency called ‘Invest India’, which is a joint
venture between industry chamber FICCI (Federation of Indian
Chambers of Commerce and Industry: 51% equity), the central
government’s DIPP (Department of Industrial Promotion and Policy:
35% Equity), and state governments, each of whom hold 0.5%
equity.
#1 Guide Foreign Investors
Invest India will act as the first reference point for guiding foreign
investors on all aspects of regulatory and policy issues and to assist
them in obtaining regulatory clearances.
#2 Assistance to Foreign Investors
Investor facilitation cell will provide assistance to the foreign investors
from the time of their arrival in the country to the time of their departure,
with focus on green and advanced manufacturing and helping these
companies to become an important part of the global value chain.
#3 Prompt Response
Prospective investors can post questions on the Make In India portal
and they will be answered by a panel of experts within 72 hours.
#4 Provide Relevant Information
Visitors registered on the website or raising queries will be followed up
with relevant information and newsletter.
#5 Proactive Approach
A pro-active approach will be deployed to track visitors for their
geographical location, interest and real-time user behavior.
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