10 Years of Make in India

Transforming India into a Global Manufacturing Powerhouse

Launched on September 25, 2014, the “Make in India” initiative is completing ten years as a pivotal step in India’s nation-building efforts. The initiative was conceived when India’s economic growth had sharply declined, and the country faced critical challenges in sustaining its development trajectory. Against this backdrop, “Make in India” was designed to transform India into a global hub for design and manufacturing. Its core objectives were facilitating investment, encouraging innovation, and developing world-class infrastructure. As one of the pioneering ‘Vocal for Local’ initiatives, it sought to boost India’s manufacturing capabilities and showcase its industrial potential on a global stage.

The initiative’s focus on developing a robust manufacturing sector promises to elevate India’s economic trajectory and generate employment opportunities for its vast young workforce. With the “Make in India 2.0” phase encompassing 27 industries, the program continues to drive forward with significant achievements and renewed vigour, reinforcing India’s position as a major player in the global manufacturing landscape.

Pillars of ‘Make in India’

• New Processes: The “Make in India” initiative identified ‘ease of doing business’ as a crucial factor for promoting entrepreneurship. Several measures were implemented to enhance the business environment, making it more conducive for startups and established enterprises.
• New Infrastructure: The government focused on developing industrial corridors and smart cities, integrating state-of-the-art technology and high-speed communication to create world-class infrastructure. Innovation and research were supported through streamlined registration systems and improved intellectual property rights (IPR) infrastructure. Efforts were made to identify industry skill requirements and develop the workforce accordingly.
• New Sectors: Foreign Direct Investment (FDI) was significantly opened up in various sectors, including Defence Production, Insurance, Medical Devices, Construction, and Railway infrastructure. This expansion also included easing FDI regulations in Insurance and Medical Devices, encouraging international investment and growth.
• New Mindset: The government embraced a role as a facilitator rather than a regulator, partnering with industry to drive the country’s economic development. This shift aimed to foster a collaborative environment that supported industrial growth and innovation.

Major Initiatives Taken to Enable Make in India

The “Make in India” initiative has been a cornerstone in transforming India into a global manufacturing hub. With a strong focus on enhancing industrial capabilities, fostering innovation, and creating world-class infrastructure, the initiative aims to position India as a key player in the global economy. Supported by significant programs like Production Linked Incentive (PLI) Schemes, PM GatiShakti, the National Logistics Policy, and comprehensive tax reforms like the Goods and Services Tax (GST), “Make in India” continues to drive economic growth, job creation, and global competitiveness.

To learn more, please read the attached briefing.

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