8 years of “Make in India” have passed.

3rd Feb 2023, Pune: The Government of India is working hard to create a better environment for businesses to thrive. Its ‘Make in India’ initiative offers exciting new opportunities for investment and job growth, with the goal of transforming India into an international hub for design and manufacturing exports. Through this program, 25 sectors are being targeted, offering incentives that encourage dedicated investments in production.
On September 25, 2022, the flagship program of the Indian government, Make in India, which aims to promote investment, encourage innovation, improve skill development, and create world-class manufacturing infrastructure, will have completed eight years of ground-breaking changes.
8 years of “Make in India” have passed.
Launched in 2014 under the energizing direction of the Hon’ble Prime Minister Shri Narendra Modi, “Make in India” is making the nation a top location for foreign investment and production. The initiative is an open call to prospective partners and investors worldwide to take part in the success story of “New India.” Make In India has made significant progress in 27 different industries. These also include key service and manufacturing industries.
The Indian government has implemented a number of additional initiatives to support Make in India. In order to decrease the burden of needless compliance, lower costs, and improve the ease of doing business in India, reform efforts include legislative reforms as well as the liberalization of rules and regulations. Through simplification, rationalization, decriminalization, and digitalization, the burdensome compliance with laws and regulations has been decreased, making it simpler to conduct business in India. Additionally, flexibility in hiring and retrenchment has been made possible by labor changes. Orders for quality control have been implemented to guarantee quality in regional production. Reduced corporate taxes, public procurement orders, and the Phased Manufacturing Program are other measures to encourage manufacturing and investments.
Though the manufacturing growth rate averaged 6.9% annually, it still wasn’t enough to help bring up the overall share of manufacturing in GDP from 16.3% to 14.3%. As such, on January 10th, 2023, three proposals were approved that are set to inject 4,276 crores into the Make-In-India initiative and push it toward success. With these resources at hand, we can finally start making some real progress!
A change in Indian manufacturing can be seen in a number of themes, such as a rise in domestic value addition and local sourcing, as well as a stronger emphasis on R&D, innovation, and sustainability practices.
The Make in India program works to make sure that the business environment in the country is favorable for foreign investors conducting business there and contributing to the expansion and advancement of the country. This has been accomplished through a number of measures that have boosted economic growth and enhanced investor inflows.
Businesses in India are working to ensure that their products are both “Made in India” and “Made for the World,” adhering to high standards of quality.
The Make in India program is helping to make India a great place for businesses and investors from around the world! Through its measures, economic growth has improved and more people are investing here. Businesses here are also making sure that their products meet high standards so they can be “Made in India” and enjoyed by everyone.