About the Programme
- The Make in India initiative was launched in 2014 to facilitate investment, foster innovation, enhance skill development, protect intellectual property and build best in class manufacturing infrastructure in the country.
- The primary objective of this initiative is to attract investments from across the globe and strengthen India’s manufacturing sector.
- It is being led by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
- The Make in India programme is very important for the economic growth of India as it aims at utilising the existing Indian talent base, creating additional employment opportunities and empowering the secondary and tertiary sector.
Why in News?
- The Government’s flagship programme ‘Make in India’ has completed eight-years of implementation.
- Make India Programme is transforming the country into a leading global manufacturing and investment destination. To attract foreign investments, the Government has put in place a liberal and transparent policy wherein most sectors are open to Foreign Direct Investment under the automatic route.
- FDI inflows in India which stood at 45.15 billion US dollar in 2014-2015 reached record FDI inflows for eight years. The year 2021-22 recorded the highest ever FDI of 83.6 billion US dollars.
- The Production Linked Incentive scheme launched across 14 key manufacturing sectors is also giving a boost to Make in India initiative. With this initiative at the forefront, the businesses in India are aiming that the products that are ‘Made in India’ are also ‘Made for the World,’ adhering to global standards of quality.