The initiative of Make in India began in September 2014 and part of India’s focus on invigorating the manufacturing sector. This initiative has had a great impact on investment and has brought tremendous growth in the overall Foreign Direct Investment.
Since its existence, India has had a number of initiatives that are meant to reform and come up with an enabling environment that will boost innovation, design, entrepreneurship and manufacturing.
India has turned out to be the fastest developing economy with a growth rate of 7% and the Prime Minister is pushing for more through innovative initiatives like Skill India, 100 Smart Cities and Digital India.
Objective of Make In India Week Campaign:
The major objective for Make in India initiative is to ensure that India gets recognized in the global supply chain. The main sectors being focused on are construction, pension funds, insurance, medical devices, defense and railways. Book your spot for Make in India Week
These sectors have opened up Foreign Direct Investment so quickly and the Indian government has put to place several measures to improve the ease with which business activities are ranked. And for the regulatory environment to be simple and easy for business to grow, technology is utilized in integrating and converging various departments.
Numbers of services have been integrated in the eBiz portal which functions as a single window portal for getting clearance from the government agencies. Make in India has not only led to India becoming the first among the fastest growing economies in the world but also it has made it appear among to the top of Greenfield FDI destinations as seen in January to June 2015 on the Financial Times and FDI Markets reports.
Frost and Sullivan further ranked India as one of the 100 countries in innovation, leadership index and growth and Zunnow Management Consulting Report identified India as the best choice for technological MNCs to create R&D centers outside their countries.
Brand Finance and Ernst & Young companies ranked India as the 7th most valued nation brand and the 1st among the most attractive investment destination in the world respectively.
According to the Baseline Profitability Index in 2015 and Foreign Policy Magazine, India was the first among the 110 destinations of investment that were polled globally on the easiness of doing business and its ranking jumped 12 places and 16 places in Global Competitiveness Index according to World bank and World Economic Forum respectively.
India has now recorded 35% FDI Equity Inflows growth as found out by the department of Industrial Policy and Research.
Also Read:- Benefits Or Advantages of Make in India
Make In India Week in Mumbai
To keep this momentum going, India is planning a landmark event named Make in India Week in Mumbai. The event will be one week long, from February 13 to February 18th 2016 and the Prime Minister of India will be the one to inaugurate this event.
Several events under design, innovation and sustainability have been set up on the manufacturing canvas. They include Make in India Centre which will exhibit the most innovative manufacturing processes and products, state investment seminars and sector seminars.
CNNAsia Business Forum has also selected CXOs of the leading firms who will discuss ideas meant to sharpen Asia’s social and economic future. Time India Awards will hold a panel discussion on intelligent manufacturing, innovation, entrepreneurship and awards on innovation.
Also Read:- Digital India Project By Modi
Make In Mumbai:
There is also Make in Mumbai, an urban planning exhibition by Hackthon to highlight; the best practices for city building by using technology, industries featuring start-ups, manufacturing success stories, innovation, urban design problems and competition.
Part of call will exhibit the maritime capabilities of India and there will be a whole day session on global innovation and design by Global Brand Building. Empowerment through Design exhibition will conclude by holding a forum about the contemporary design.