Make In India - Initiatives, Objectives, Advantages & Challenges

 

Make In India – Focus on 25 Sectors

The Make in India website also has listed the 25 focus sectors and also furnished all relevant details about these sectors, and related government schemes, including the FDI policies, IPR, etc. The main sectors covered under this campaign are given in the table below:

Make in India – Schemes

Several schemes were launched to support the Make in India programme. These schemes are discussed below:

Skill India

This mission aims to skill 10 million in India annually in various sectors. Make in India to turn into a reality, there is a need to upskill the large human resource available. This is important because the percentage of formally skilled workforce in India is only 2% of the population.

Startup India

The main idea behind this programme is to build an ecosystem that fosters the growth of startups, driving sustainable economic growth, and creating large-scale employment.

Digital India

This aims to transform India into a knowledge-based and digitally empowered economy. To know more about Digital India, click on the linked page.

Pradhan Mantri Jan Dhan Yojana (PMJDY)

The mission envisages financial inclusion to ensure access to financial services, namely banking savings & deposit accounts, remittances, credit, insurance, pension in an affordable manner. Click the linked article to know more about Pradhan Mantri Jan Dhan Yojana (PMJDY).

Smart Cities

This mission aims to transform and rejuvenate Indian cities. The goal is to create 100 smart cities in India through several sub-initiatives.

AMRUT

AMRUT is the Atal Mission for Rejuvenation and Urban Transformation. It aims to build basic public amenities and make 500 cities in India more livable and inclusive.

Swachh Bharat Abhiyan

This is a mission aimed at making India more cleaner and promoting basic sanitation and hygiene. For more information on Swachh Bharat Mission, click on the linked article.

Sagarmala

This scheme aims at developing ports and promoting port-led development in the country. Read more on the Sagarmala Project in the linked article.

International Solar Alliance (ISA)

The ISA is an alliance of 121 countries, most of them being sunshine countries, which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn. This is India’s initiative aimed at promoting research and development in solar technologies and formulating policies in that regard.

AGNII

AGNII or Accelerating Growth of New India’s Innovation was launched to push the innovation ecosystem in the country by connecting people and assisting in commercializing innovations.

Make in India – Objectives

There are several targets aimed by the Make in India mission. They are:

1. Raise in manufacturing sector growth to 12-14% per year.
2. Create 100 million additional jobs in the manufacturing sector by 2022.
3. Increase in the manufacturing sector’s share in the GDP to 25% by 2022.
4. Creating required skill sets among the urban poor and the rural migrants to foster inclusive growth.
5. A rise in the domestic value addition and technological depth in the manufacturing sector.
6. Having an environmentally-sustainable growth.
7. Augmenting the global competitiveness of the Indian manufacturing sector.

Make in India – Advantages

The Make in India campaign has had several positive developments for the country. Below are some more benefits that have been derived from this mission.

1. Generating employment opportunities.
2. Increasing the GDP by expanding economic growth.
3. When FDI inflows become more, the rupee will be strengthened.
4. Small manufacturers will get a thrust, particularly when investors from abroad invest in them.
5. When countries invest in India, they will also bring with them the latest technologies in various fields.

What are the Challenges of Make in India?

Some of the challenges in this mission are creating a healthy environment for business, lack of research and development, skills development and up-gradation, creating labour-intensive technology, increasing the competitiveness of goods manufactured in India, etc.