Make in India campaign was launched in New Delhi by the Prime Minister Narendra Modi on 25th, September 2014. It is a powerful galvanizing call to business leader of the world to come and invest in India. This slogan is an inspiring call to all global business leaders by the government of India with a promise to facilitate the growth of the companies they bring into India. It is a big opportunity to all the investors to set up their business (manufacturing, textiles, automobiles, production, retail, chemicals, IT, real estate, ports, pharmaceuticals, hospitality, tourism, healthcare, railways, etc) in any field in the country. This attractive plan has resourceful proposals for the foreign companies to set up manufacturing powerhouses in India
This initiative ‘Make in India’ emphasizes to transform India into a global manufacturing hub. The logo of ‘Make in India’ a lion made of gear wheels, reflecting the government’s vision of manufacturing India. This initiative is based on 4 pillars: — New processes that would replace outdated policies, decade old long procedures and red tapism, new infrastructure that will comprise smart cities with state-of-the-art-technology, identification of new sector to attract FDI in them and a new mindset where the government won’t be a regulator but rather a facilitator to woo global manufacturing giants to invest in India.
Make in India is the single largest manufacturing initiative undertaken by a nation in recent history. It has been built by collaborative effort. The department of industrial policy and promotion initiated this process by inviting participants from union ministries, secretaries and various knowledge partners. Various sectors have been opened up for investment and sectors like defence, railways and space have also been open for FDI.
Make in India has to be a movement rather than an initiative to be successful in a policy—ridden country. It has to be beyond full page coloured advertisements. It must be informative and must inspire and infuse confidence in the business world, inspiring them to become potential partners of the Indian business communities and reforms. Make in India till now has been lauded by the manufacturing world. The government within a short span of time has replaced obsolete obstructive framework of the past and has replaced it with user-friendly system to drive investment and increase in FDI. Till March 2016, 44% (percent) increase in FDI equity inflows was seen. The rise in FDI points towards stronger investors’ interest in India on the back of robust economic growth. Higher inﬂows also suggest that the government’s liberal policies are bearing fruits. Today India’s credibility is stronger than ever. There is a visible enthusiasm, momentum, energy and raring to go attitude in the business world. India has opened its investment doors and world’s largest democracy is well on its way to become world’s most powerful economy.