Make in India is a campaign started by the Government of India to promote domestic manufacturing. The purpose of this essay is to give you an introduction about what Make In India stands for and why it matters.
In this post, we’ve produced a 1100-word essay about Make in India for students. This persuasive essay discusses the importance of the topic, as well as government programs and policies.
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a brief introduction (Essay on Make in India)
On September 25, 2014, Prime Minister Narendra Modi launched the Make in India program, with the main objective of making India a worldwide manufacturing hub by encouraging both foreign and local enterprises to create their goods here.
The initiative was initiated after the NDA administration was seized as a required reaction to the Indian economy’s persistent state. Following the collapse of the BRICS Nation pledge, India’s GDP growth slowed to roughly 6%, earning it the moniker “Fragile Five.”
This initiative is the outcome of a shift in the government’s mindset from that of a perpetual issuer to that of a possible business partner. It was an invitation to prospective investors and firms from across the globe, with the goal of establishing India as a reputable business climate with three effects:
- Increased faith in India’s economic prowess,
- Producers need a solid framework.
- A residual phase is a tool for increasing structure and Indian feelings.
The “Make in India” campaign intends to promote India as a key investment destination and a worldwide hub of manufacturing, design, and innovation. The ‘Make in India’ project is aimed at promoting entrepreneurship in India as well as the industrial sector.
In addition, the effort intends to foster a favorable business climate, modern and efficient infrastructure, new areas for foreign investment, and a constructive attitude between government and industry.
Favorite position
India has already established itself as one of the world’s fastest-growing economies. By 2020, the nation is predicted to be one of the three fastest-growing economies in the world, as well as one of the three most important manufacturing hubs.
For the next 2-3 decades, there are positive demographic rewards, as well as a consistent supply of high-quality labor.
In comparison to other nations, the cost of labor is comparatively inexpensive. Credibility and professionalism are the hallmarks of responsible corporate organisations. The domestic market is becoming more dynamic as a result of active consumer participation.
The top scientific and technological institutions promote strong technical and engineering skills. Foreign investors have access to well-regulated and stable financial markets.
Start-up Industries for Make-in-India Products
As part of the ‘Make in India’ strategy, the following 25 sectors have been identified:
- Automobile Parts
- Automobiles
- Aircraft
- Biotechnology
- Chemicals
- Building
- Defense manufacturing
- Machines that run on electricity
- Electronic circuit design and manufacturing
- processing of food
- BPM and IT
- Leather
- Entertainment and the media
- Mining
- Natural gas and oil
- Pharmaceuticals
- Ports
- Railways
- Highways and roads
- Energy from renewable sources
- Space
- Fabrics
- Thermoelectricity
- Hospitality and tourism
- Wellness
Projects that are currently being worked on as part of the Make in India initiative
The Government of India has chosen, planned, and launched five industrial corridor projects in the Union budget for 2014-2015 to offer an impetus for industrialisation and planned urbanization.
Production will be a critical engine of the economy in each of these corridors, and these projects are seen as critical in raising the percentage of production in India’s Gross Domestic Product from 15% to 25% by 2022.
In the Union’s 2014-2015 budget, 100 smart cities are also scheduled to grow along these lines. These cities are being built to accommodate a new workforce that will drive output along industrial routes and disrupt the Indian housing market.
To standardize and coordinate the development of all industrial corridors, the National Office for the Development of the Industrial Corridor (NICDA) is formed.
The Make in India project’s industrial corridors
- Mumbai-Delhi Industrial Corridor (DMIC)
- Economic Corridor between Bengaluru and Mumbai (BMEC)
- Industrial Corridor between Chennai and Bengaluru (CBIC)
- Visakhapatnam-Chennai Industrial Corridor (VCIC)
- Amritsar-Calcutta Industrial Corridor (AKIC).
Policy That Is Practical
Initiatives that are new
The Make in India program includes major Initiatives that are new to facilitate investment, support innovation, protect Intellectual Property Rights (IP), and build best-in-class production infrastructure.
Direct foreign investment (FDI)
India has already established itself as one of the world’s fastest-growing economies. It was ranked among the top three most appealing locations for inbound investment. The regulatory environment for foreign investment has been steadily loosened since 1991 in order to make it more investor-friendly.
Intellectual Property Rights (IP)
The GOI has taken several initiatives to create favorable conditions for the protection of Intellectual Property Rights (IP) rights of innovators and creators, introducing changes at the legislative and political levels.
Also, particular emphasis was placed on improving the provision of services by modernizing infrastructure, Building capacity, and using the latest technologies in the functioning of Intellectual Property Rights (IP) offices in the country. This measure caused considerable changes in the IP administration in the country.
Production in the United States
The need to improve India’s manufacturing sector’s global competitiveness is critical for the country’s long-term progress. The government’s national production program is by far the most extensive and substantial political undertaking.
This policy is for the manufacturing sector, and it encompasses issues such as legislation, infrastructure, skills development, technology, finance availability, exit mechanisms, and other pertinent variables.
- Doing business in a convenient manner
- Initiatives from the federal government include:
- Internet gateway with a same theme (Shram Suvidha)
- Employee portals for the Employees Provident Fund Organization (EPFO) and the State Insurance Corporation (ESIC) (EPFO)
- Forms that are less complicated
- Remove the minimum capital needed and seal the junction.
- Integrate the PAN, TAN, ESIC, and EPFO registration procedures with the business registration.
- Import and export may be done from a single window.
Make in India is a set of government initiatives.
- The Pollution Control Board has an online permission mechanism (Gujarat)
- With a single VAT identity and professional tax registration, the procedure is streamlined (Maharashtra)
- Invest Punjab was established as a comprehensive settlement structure for investment projects (Punjab)
- Building permits for apartments and industrial buildings may be applied for over the internet (Delhi)
- The Pollution Jurisdiction Committee has liberated the green industry from its control (Puducherry)
- Building permits are issued using an online platform (Mumbai)
Production currently accounts for over 15% of national GDP. The goal of this campaign is to increase a 25% contribution from other developing countries in Asia. In this process, the government hopes to create jobs, attract Direct foreign investment (FDI), and transform India into a preferred production center around the world.
This program’s successful execution will aid in the construction of 100 smart city projects and affordable housing in India. The fundamental objective of developing steady growth and valuable employment in the nation is to enlist the aid of important investors.
These investors, as well as the nation, will profit from each other’s efforts. The Indian government has established a dedicated support staff to ensure that the internet site (makeinindia.com) and investors communicate effectively and securely. A devoted business enterprise is committed to addressing any queries at any time.
In terms of natural resources, India is a prosperous nation. Because of the high unemployment rate among the country’s educated classes, work is plentiful, and a skilled labor is easily accessible. India will soon become the chosen manufacturing location for most investors throughout the globe, as Asia develops as an Asian outsourcing hub.
The Make In India campaign logo is an exquisite lion inspired by Ashok Chakra that is meant to symbolize India’s achievement in many sectors. The prime minister dedicated the campaign to Pandit Deen Dayal, a well-known nationalist, philosopher, and politician.
last thoughts (Essay on Make in India)
The Prime Minister urged all campaign participants, particularly entrepreneurs and businesses, to carry out their responsibilities as Indian citizens by directly engaging in foreign investment as part of the country’s Make In India effort. I hope you like this Make in India Essay for Students.
Frequently Asked Questions
What is Make in India essay?
A: Make in India is a government-owned and -promoted initiative to improve the manufacturing sector of Indian economy. This aims at creating one million new jobs and increasing investment by $100 billion annually by 2022.
What is Make in India in easy words?
A: Make in India is a manufacturing program that allows for the development of new products and processes for use throughout India.
What is Make in India speech?
A: The Make in India speech was given by Prime Minister Narendra Modi on September 26th, 2014.