{"id":26741,"date":"2021-03-02T12:21:38","date_gmt":"2021-03-02T06:51:38","guid":{"rendered":"https:\/\/corpbiz.io\/learning\/?p=26741"},"modified":"2021-03-02T12:26:38","modified_gmt":"2021-03-02T06:56:38","slug":"impact-of-make-in-india-scheme-on-indias-development","status":"publish","type":"post","link":"https:\/\/corpbiz.io\/learning\/impact-of-make-in-india-scheme-on-indias-development\/","title":{"rendered":"Underlining the Impact of Make in India Scheme on India\u2019s Development"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The BJP-led NDA government introduced the Make in India Scheme during their first tenure that triggered exponential growth in the country&#8217;s economy. The scheme aims to foster skill development, attract FDI, build manufacturing infrastructure, and use ways to ensure 100% utilization of talents nationwide. Make in India put stress on 25 sectors which include aviation, automobiles, chemicals, etc. In this write-up, you will come across an extensive overview of this scheme, its benefits, downsides, and different sectors of Make in India. <\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title ez-toc-toggle\" style=\"cursor:pointer\">Page Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/corpbiz.io\/learning\/impact-of-make-in-india-scheme-on-indias-development\/#What_are_the_Objectives_of_Make_in_India_Scheme\" >What\nare the Objectives of Make in India Scheme?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/corpbiz.io\/learning\/impact-of-make-in-india-scheme-on-indias-development\/#Advantageous_Outcomes_Expected_from_Different_Sectors_via_Make_in_India_Scheme\" >Advantageous Outcomes Expected from Different Sectors via Make\nin India Scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/corpbiz.io\/learning\/impact-of-make-in-india-scheme-on-indias-development\/#Some_of_the_Accomplishments_under_the_Make_in_India_scheme\" >Some of the Accomplishments\nunder the Make in India scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/corpbiz.io\/learning\/impact-of-make-in-india-scheme-on-indias-development\/#Positive_Execution_in_Different_Sectors_under_Make_in_India_Scheme\" >Positive\nExecution in Different Sectors under Make in India Scheme<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/corpbiz.io\/learning\/impact-of-make-in-india-scheme-on-indias-development\/#Challenges_of_Make_in_India_scheme\" >Challenges of Make in India scheme&nbsp;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/corpbiz.io\/learning\/impact-of-make-in-india-scheme-on-indias-development\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_are_the_Objectives_of_Make_in_India_Scheme\"><\/span>What\nare the Objectives of Make in India Scheme? <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"900\" height=\"678\" src=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/What-are-the-Objectives-of-Make-in-India-Scheme.png\" alt=\"What are the Objectives of Make in India Scheme\" class=\"wp-image-26755\" srcset=\"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/What-are-the-Objectives-of-Make-in-India-Scheme.png 900w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/What-are-the-Objectives-of-Make-in-India-Scheme-300x226.png 300w, https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2021\/03\/What-are-the-Objectives-of-Make-in-India-Scheme-768x579.png 768w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/figure><\/div>\n\n\n\n<p>The ultimate objective\nof Make in India scheme is to stimulate the growth of the country&#8217;s\nmanufacturing sector, create jobs, and simplify the ease of doing business.\nMake in India initiative regarded &#8216;ease of doing business as the most vital\ndevelopment component that fosters entrepreneurship. <\/p>\n\n\n\n<p>Apart from this,\nnumerous other factors influence the development of the manufacturing sector,\nsuch as infrastructure, the belief of people, &amp; many more. Make in India\nscheme aims to alter the bonding between the Government &amp; industries by\nincorporating a standard shift in how the Indian Government interacts with\nindustries.&nbsp;&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Advantageous_Outcomes_Expected_from_Different_Sectors_via_Make_in_India_Scheme\"><\/span>Advantageous Outcomes Expected from Different Sectors via Make\nin India Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Presently, India has a\nlarge workforce to meet the requirement of overseas investors. A skilled\nworkforce is readily available in India due to the presence of a high\nunemployment rate. All these factors have transformed India into the best\noutsourcing destination in the world. Countless measures focusing on the ease\nof doing business in our nation have been introduced under the Make in India\nprogram.<\/p>\n\n\n\n<p>GOI has introduced\nseveral initiatives to simplify the licensing rules at the state level to align\nthem with best practices that are pursued globally. This initiative of GOI\nfosters skill development, attracting investment, promoting innovations, and,\nmost importantly, providing job opportunities to the nation&#8217;s unemployed youth.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Some_of_the_Accomplishments_under_the_Make_in_India_scheme\"><\/span>Some of the Accomplishments\nunder the Make in India scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em><strong>There are primarily two sectors in which the Make in India scheme has been successfully propounded for, which are as follows:-<\/strong><\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Foreign Direct Investment (FDI)<\/h3>\n\n\n\n<p>The Indian Government changed the <a href=\"https:\/\/corpbiz.io\/learning\/fc-gpr-form-reporting-with-rbi-for-foreign-direct-investment\/\"><strong>Foreign Direct Investment<\/strong><\/a> policy in 2014 to stimulate growth in the FDI inflow. The Government raised the overseas investment limit from 26% to 49% in the insurance sector. After the launch of the Make in India scheme, the Indian\u00a0Government ensured the liberalization\u00a0of FDI in some vital sectors, including Pharmaceuticals, Telecommunications, Space, Agriculture, Pensions and Medical Devices, etc.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Ease of Doing Business<\/h3>\n\n\n\n<p>In the recent past, India secured a significant position in the World Bank&#8217;s annual report related to the Ease of Doing business, &#8216;Doing Business 2020&#8217;. The sharp rise in the ranking can be credited to reforms deployed in the different sectors of Make in India.<\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/procedure-for-start-up-registration-india\/\">What is the Procedure for Start-up Registration India? <\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Positive_Execution_in_Different_Sectors_under_Make_in_India_Scheme\"><\/span>Positive\nExecution in Different Sectors under Make in India Scheme<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><em><strong>Soon after the launch the Make in India scheme, the below-mentioned sectors have reaped string of achievements cited below. <\/strong><\/em><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Basic Metals and Cement<\/h3>\n\n\n\n<ul><li>The\ngrowth of FDI in the mining sector is quite substantial. According to\ngovernment data, FDI grew 4.43 times from $293 million (2011-14) to $1297\nmillion (2014-18)<\/li><li>Government-commissioned\ncountry&#8217;s largest blast furnace viz Kalyani blast furnace at SAIL, Burnpur.<\/li><li>The\nGovernment has made efforts to rejuvenate the Rourkela steel plant as per the\nlatest standard to improve the plant from 2 million tonnes\/annum to 4.5 million\ntones\/annum.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Aviation Sector<\/h3>\n\n\n\n<ul><li>FDI\nwitnessed six times growth between the periods of 2011-17. In 2011, total FDI\nwas accounted for $93 million; meanwhile, in 2017, this figure increased up to\n$ 519 million, exhibiting the six times growth.<\/li><li>Passengers\ncarried by local airlines raised by 29% from 148 million between 2012-14 to 191\nmillion in (2014-16).<\/li><li>Government\nrenders green light to 6 Greenfield Airports.<\/li><li>Around\n160 airports are being scrutinized &amp; operationalized.<\/li><li>16\nCommon User Domestic Cargo Terminals (CUDCT) have been brought to life.<\/li><li>The\nGovernment introduced the GPS-Aided Geo Augmented Navigation system.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Tourism<\/h3>\n\n\n\n<ul><li>The\ntourism ministry introduced the Swadesh Darshan Scheme for integrated\ndevelopment of theme-oriented tourist circuits in the nation in 2014-15. The\nscheme objectively helps in positioning tourism as the primary source of\nemployment and economic growth.<\/li><li>Another\nscheme rolled out by the Ministry of Tourism is PRASAD. The ultimate goal of\nthis scheme is to trigger the development of religious tourism.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Biotechnology<\/h3>\n\n\n\n<ul><li>Indian\nGovernment introduced the first Rotavirus vaccine named &#8216;Rotavac.&#8217; The\nGovernment launched the virtual center across five IITs to ensure the\ndevelopment of advanced technologies in biofuels.<\/li><li>Indian\nGovernment has decided to lay the foundation of Asia&#8217;s largest MedTech Zone\n(AMTZ) in Andhra Pradesh.<\/li><li>This\nMedTech Zone will accommodate 200 independent manufacturing units.<\/li><\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">MSME<\/h3>\n\n\n\n<p>The Indian Government\nrolled out a new scheme viz Prime minister&#8217;s Employment Generation Programme\n(PMEGP). The Government sanctioned INR 139.58 crore for the cluster to create\njobs for artisans across 72 clusters.&nbsp;A new portal is known as&nbsp;Samadhaan&#8217;\nwas introduced to render information on the payment pending with Central\nMinistries.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Challenges_of_Make_in_India_scheme\"><\/span>Challenges of Make in India scheme&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The bureaucratic mindset of the Indian Government has always created hassles for overseas investors to establish industries in India. Apart from this, other factors such as lack of proper infrastructure, corruption, compromised labor laws restrain investors from investing in the country. However, the existing <em><strong>Government<\/strong><\/em><sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Government\"><em><strong>[1]<\/strong><\/em><\/a><\/sup> via the Make in India scheme is striving its best to mitigate these issues and develop the nation as an outsourcing destination.<\/p>\n\n\n\n<p>Our country is yet to\nsecure a good ranking in the &#8216;ease of doing business index&#8217;. And this situation\nis likely to remain stagnant in upcoming years if the Government doesn&#8217;t take\nthe required measures to promote international funding.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Make in India initiative\nis all about the integrated development of the country where different sectors\nis anticipated to contribute significantly towards the country&#8217;s GDP. The\nscheme intends to build manufacturing infrastructure, improve skill\ndevelopment, and promote outsourcing capabilities.<\/p>\n\n\n\n<p>With these objectives in hand, the Government is eyeing to attract investors worldwide and create job opportunities for the nation&#8217;s youth. There are 25 sectors of Make in India scheme that seeks promotion to address the demand of overseas investors. For the most part, it seems to be a groundbreaking initiative of the Government that has immense growth potential for the country. However, there is a need to amend labor laws, control corruption, and undermine bureaucracy from the nation to make India a viable alternative for foreign investment. <\/p>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/corpbiz.io\/learning\/growth-and-quality-of-fdi\/\">Growth and Quality of FDI: Are all FDI Equal? <\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BJP-led NDA government introduced the Make in India Scheme during their first tenure that triggered exponential growth in the country&#8217;s economy. The scheme aims to foster skill development, attract FDI, build manufacturing infrastructure, and use ways to ensure 100% utilization of talents nationwide. Make in India put stress on 25 sectors which include aviation, [&hellip;]<\/p>\n","protected":false},"author":22,"featured_media":26751,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[153,968],"tags":[1574],"acf":{"service_id":"250"},"authorName":"Pankaj Tyagi","authorImageUrl":"https:\/\/corpbiz.io\/learning\/wp-content\/uploads\/2022\/01\/MicrosoftTeams-image-42.jpg","authorDescription":"Pankaj has a diverse experience of writing research papers, blog, and articles during his college time. Earlier, he was working as a tax consultant in a financial firm, but his interest in writing drives him to pursue a career in the writing field.","postViews":6787,"readingTime":4,"_links":{"self":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/26741"}],"collection":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/comments?post=26741"}],"version-history":[{"count":8,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/26741\/revisions"}],"predecessor-version":[{"id":26759,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/posts\/26741\/revisions\/26759"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media\/26751"}],"wp:attachment":[{"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/media?parent=26741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/categories?post=26741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/corpbiz.io\/learning\/wp-json\/wp\/v2\/tags?post=26741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}