Make In India Promotes Investment In 25 Focus Sectors
Make in India initiative focuses on four key areas to promote manufacturing and entrepreneurship
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Make in India initiative has been launched to project India as a preferred investment destination and a global manufacturing hub. The major objective behind the initiative is to renew focus on job creation, skill development, fostering innovation and high quality standards in 25 sectors. Stressing on the fact, Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman, elaborated on the measures taken by the government.
In a written reply in Lok Sabha, she informed: Make in India initiative focuses on four key areas to promote manufacturing and entrepreneurship viz. Policy Initiatives & New Processes; Robust Infrastructure; Focus Sectors; New Mind-set/Approach.
As part of the Make in India initiative several steps have been taken collectively by all the government departments and states to promote investments from Indian and Foreign investors in the focus sectors. The key is to create an enabling environment for investments in the select 25 focus sectors. It aims at promoting the 'ease of doing business' measures taken up by states and central government ministries.
Key Sectors identified
25 Focus sectors have been identified for growth under the initiative viz. Automobiles; Auto components; Aviation; Biotechnology; Chemicals; Construction; Defense manufacturing; Electrical machinery; Electronic system design and manufacturing; Food processing; IT and BPM; Leather; Media and entertainment; Mining; Oil and gas; Pharmaceuticals; Ports; Railways; Renewable energy; Roads and highways; Space; Textiles; Thermal power; Tourism & Hospitality and Wellness.
Opening up FDI
The Government is taking various measures for bringing investments to the country like opening up Foreign Direct Investment in many sectors; carrying out FDI related reforms and liberalization and improving ease of doing business in the country.
Steps are being taken for development of support infrastructure to facilitate setting up of industries such as transport infrastructure, utility infrastructure etc. These steps shall bring down cost thereby boosting the manufacturing sector.
Centre and states collaborate
The Make in India initiative is a national initiative targeting development of all states at large. Each state has its own special features which make it an ideal investment destination in particular sectors. This initiative with the support of State Governments and Union ministries aims at development of manufacturing sector of the country as a whole.