Make in India is an initiative by the Government of India to encourage companies to manufacture in India and incentivize dedicated investments into manufacturing.[1] The policy approach was to create a conducive environment for investments, develop a modern and efficient infrastructure, and open up new sectors for foreign capital. The initiative targeted 25 economic sectors for job creation and skill enhancement,[2] and aimed 'to transform India into a global design and manufacturing hub.'[3] 'Make in India' had three stated objectives: to increase the manufacturing sector's growth rate to 12-14% per annum; to create 100 million additional manufacturing jobs in the economy by 2022; to ensure that the manufacturing sector's contribution to GDP is increased to 25% by 2022 (later revised to 2025).[4] After the launch, India gave investment commitments worth ₹16.40 lakh crore (US$230 billion) and investment inquiries worth ₹1.5 lakh crore (US$21 billion) between September 2014 to February 2016.[5][6][7] As a result, India emerged as the top destination globally in 2015 for foreign direct investment (FDI), surpassing the United States and China, with US$60.1 billion FDI.[8] As per the current policy, 100% Foreign Direct Investment (FDI) is permitted in all 100 sectors, except for the Space industry (74%), the defense industry (49%), and the Media of India (26%).[9][10] Japan and India had also announced a US$12 billion 'Japan-India Make-in-India Special Finance Facility' fund to push investment.[11] In line with the Make in India, individual states too launched their own local initiatives, such as 'Make in Odisha,' 'Tamil Nadu Global Investors Meet,' 'Vibrant Gujarat,' 'Happening Haryana' and 'Magnetic Maharashtra.'[12] India received US$60 billion FDI in FY 2016–17.[13] The World Bank's 2019 Ease of Doing Business the report acknowledges India's jump of 23 positions against its rank of 100 in 2017 to be placed now at 63rd rank among 190 countries.[14] By the end of 2017, India had risen 42 places on the Ease of doing business index, 32 places World Economic Forum's Global Competitiveness Index, and 19 notches in the Logistics Performance Index,[13] thanks to recent governmental initiatives, which include converges, synergies and enables other important Government of India schemes, such as Bharatmala, Sagarmala, Dedicated Freight Corridors, Industrial corridors, UDAN-RCS, Bharat Broadband Network, Digital India. Make in India has not yet achieved its goals. The growth rate of manufacturing averaged 6.9% per annum between 2014-15 and 2019-20.[15] The share of manufacturing dropped from 16.3% of GDP in 2014-15 to 15.1% in 2019-20. - Study24x7
Social learning Network
Exam hub
566 followers study24x7 19 Mar 2021 10:54 AM study24x7 study24x7

Make in India is an initiative by the Government of India to encourage companies to manufacture in India and incentivize dedicated investments into manufacturing.[1] The policy approach was to create a conducive environment for investments, develop a modern and efficient infrast...

See more

SSC Banking UPSC
Like Comment Share | 2
study24x7
Write a comment
Related Questions
500+   more Questions to answer

Popular Courses

Reasoning Special by Parwez Sir for... All Levels हिन्दी By Reasoning special by Parwez Alam
Post Graduate Certificate in Invest... Beginners Level English By Investment Banking 590,000 625,000 6% off
Average and Alligation for Bank PO ... All Levels हिन्दी By logicalangle
Online Free SSC Mock Tests All Levels English By Topline Coaching
FREE MOCK TEST FOR SSC CGL All Levels English By SSC Preparation Strategies & Study ...
English Special Course for SSC CGL,... All Levels English By Topline Coaching 999 1,499 33% off
GS 300 : Crash Course for BPSC & UP... Intermediate Level हिन्दी By Observer IAS 13,000 18,000 28% off
Delhi Police Constable 2020 Live on... All Levels English By PARINAM COACHING CENTRE PVT LTD 1,499 2,499 40% off
BANKING AWARENESS PREMIUM COURSE All Levels English By RAU IAS COACHING 499 799 38% off
G.S. Foundation Premium Course All Levels हिन्दी By RAU IAS COACHING 2,199 4,199 48% off
Featured Courses
Popular Pages

Featured Courses

Post Graduate Certificate in Investment Banking Beginners Level English By Investment Banking 590,000 0.0
BESTSELLER
Reasoning Special by Parwez Sir for all Government... All Levels हिन्दी By Reasoning special by Parwez Alam
FREE
5.0
IBPS PO (PRE) English Special by Pooja Mam All Levels English By Topline Coaching
FREE
5.0
GS 300 : Crash Course for BPSC & UPPSC Mains & PT Intermediate Level हिन्दी By Observer IAS 13,000 5.0
BANKING AWARENESS PREMIUM COURSE All Levels English By RAU IAS COACHING 499 5.0
BESTSELLER
SSC CGL, CPO, CHSL, GD Comprehensive Course All Levels English By Topline Coaching 3,999 5.0
Ratio,Proportion and Partnerships for Bank and SSC... All Levels हिन्दी By logicalangle
FREE
5.0
Government Jobs Exam Syllabus All Levels English By GOVERNMENT JOB NOTIFICATION
FREE
5.0
G.S. Foundation Premium Course All Levels हिन्दी By RAU IAS COACHING 2,199 5.0
English Special Course for SSC CGL, CPO, GD All Levels English By Topline Coaching 999 5.0

Popular Pages

Reasoning special by Parwez Alam

148 followers

SAT (Scholastic Assessment Test)

18 followers

Study24x7

1225 followers

Henry Harvin

61 followers

CBSE Study Materials

86 followers

Get the App

Download the Study24x7 App, so you can connect and collaborate.

study24x7
study24x7
Most Related Articles