Make in India is a campaign whose mission is to manufacture products in India and sell them anywhere in the world. The campaign focuses on helping and attracting companies to invest and put up their units of manufacturing in India.
This campaign’s initiative is to promote sectors targeting the youths who are coming up with new innovations and new entrepreneurship skills that will lead to investing and manufacturing in India. Companies across the world are called upon to create factories, make investments and expand their businesses in India. The targeted sectors are 25 in total and they include automobile, power, tourism, pharmaceuticals, telecommunication and many others.
Advantages of Make in India Project
1) Boost India’s Economic Growth:- The make in India campaign will lead to an increase in exports and manufacturing. An increase in exports will improve the economy and India will be transformed into a global hub of manufacturing through global investment using the current technology. Manufacturing will also boost India’s economic growth and GPD.
2) More Job Opportunities:- It will lead to the creation of many job opportunities. Around ten million people are expected to get jobs. An increase in investment will bring employment opportunities for the skilled labor force and this will form a job market.
The government is running a skills development programme for the people in the rural areas and those in the urban areas who are poor. The programme will help in generating more skilled workers. The major key areas of the training will be painting, masonries, welding and many others. Certifications will be issued in order to make the training standard.
3) Attract More Foreign Direct Investment (FDI):- It will welcome more FDI. Since the government had promised to improve the ease of running businesses in India, it is going to attract many FDI. At the moment it has already received an amount of INR 20 K million from a proposal that was made on October 2014.
4) Investment In India:- Through Make In India Project more companies are looking to set up factories, a unit known as “Invest India” is in the process of being put to place. This unit will be under the department of commerce and will be available any time to make it easy to carry out regulatory clearance within the shortest time possible ensuring that businesses are run in India easily.
Apart from those major benefits that will be generated from the make in India campaign, there are also some other small benefits like upgrading of technology and quicker ways of project clearance.
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