The Make in India programme, first mooted by the PM on Independence Day speech, will lay emphasis on 25 sectors with the focus on job creation and skill enhancement of Young and Digital India.
To the expression “Look East,” the Prime Minister added “Link West”, and said a global vision was essential. He said Mission Swachh Bharat and “waste to wealth” could lead to good revenue models for business as well. He referred to his vision of waste water management and solid waste management in 500 towns across India through public and private partnership.
Make in India Vision
The Prime Minister also spoke of the infrastructure of the future – including i-ways besides highways – and mentioned port-led development, optical fibre networks, gas grids and water grids.
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Recently the Foreign Direct Investment policy has been liberalized. 100% FDI under automatic route has been permitted in construction, operation and maintenance in specified Rail Infrastructure projects; FDI in Defence liberalized from 26% to 49%. In cases of modernization of state-of-art proposals, FDI can go up to 100%; the norms for FDI in the Construction Development sector are being eased.
The government is committed to improving the physical infrastructure. Development of dedicated freight corridors and investment in improving our ports and airports are underway. These corridors would house Industrial agglomerations along with smart cities. The private sector would be playing a significant role in these developmental works.
For the manufacturing sector to take advantage of the improved physical infrastructure, the need for having a strong human capital is recognized. Government’s effort would be to equip the working age population with the right kinds of skill so that the manufacturing sector finds them employable. One of the first decisions that the new Government has taken is to set up a separate Department of Skill Development and Entrepreneurship.
Various prominent National and International industry leaders are likely to attend the programme to launch the campaign along with Ministers, senior officials, Ambassadors and opinion leaders.
How does the government plan to ease doing of business in India?
Global investors have been unsparing in their criticism about complex rules and bureaucratic red tape that delay investment decisions.
India ranks a lowly 134 out of 189 countries in the World Bank’s ease of doing business index in 2014. It slipped three places from its 2013 rank.
The government has set up an investor facilitation cell Invest India, which will act as the first reference point for guiding foreign investors on all aspects of regulatory and policy issues and to assist them in obtaining regulatory clearances.
Cost effective manufacturing and a handsome buyer – one who has purchasing power – are both required, the Prime Minister said.
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The initiative will also target top companies across sectors in identified countries.
The government plans to introduce a single labour law for small industries by December.