Make in India
Launch Date: 25th September, 2014
To project India as a preferred investment destination and a global manufacturing hub. The major objective behind the initiative was to renew focus on job creation, skill development, fostering innovation and high quality standards in the manufacturing sector.
· Partnership between the Government & Industry has increased.
· Since the launch of Make in India initiative, India has emerged as one of the fastest growing major economies.
· India has been ranked 3rd in the list of top prospective host economies for 2016-18 in the World Investment Report (WIR) 2016 of UNCTAD. India ranks 9th position on foreign direct investment (FDI) inflows in 2016, as per World Investment Report 2017.
· India’s ranking in World Bank’s Ease of Doing Business Index has made giant leap of 30 positions – from 130 in 2016 to 100 in 2017 (as per World Bank’s Ease of Doing Business Report, 2018)
· India has established itself as one of the top 10 inbound investment destinations in the world. One of the key reasons is India opening up its sectors for FDI.
· India is one of the most open economies of the world when it comes to sectors opened up for FDI
· Due to its investment friendly policies and opening up of FDI sectors, India for the first time received FDI of more than USD 50 billion in FY 2015-16; the exact figure being USD 55.45 billion and highest ever FDI inflow of USD 60.08 billion in 2016-17.
· FDI has shown an extremely positive trend since the launch of Make in India Week with growth of 56 percent on FDI inflow and 68 percent on FDI Equity inflows, since the launch of the initiative over the corresponding period previous to it.
· Highest FDI inflow for the last 3 financial years (USD 160.7 billion) – 32% of cumulative FDI inflow over past 17 financial years (USD 484 billion)
· FDI has also increased constantly over the past three financial years i.e. FY 2014-15, FY 2015-16, FY 2016-17
· The Govt. of India has also increased autonomy in the FDI inflows. The key measure for this is the increase in FDI via the Automatic Route (for which one does not require Govt. permission to invest) vis-a-vis the Govt. Route.
· FDI in India has been opened in many key sectors such as - Defence Manufacturing, Food Processing, Telecommunications, Agriculture, Pharmaceuticals, Civil Aviation, Space, Private Security Agencies, Railways, Insurance and Pensions, Medical Devices and Pensions.
· Most of the above mentioned sectors have 100 percent FDI via the automatic route barring Defence Manufacturing sector (FDI upto 49 percent applicable via automatic route and 100 percent FDI allowed via Government Route).