'Make in India' Programme is based on which pillars?

i. New processes

ii. New infrastructure

iii. New investment

iv. New sectors

The correct answer is (i), (ii) and (iv).

Key Points

• 'Make in India' is an initiative launched by the Government of India in September 2014 to encourage companies to manufacture their products in India and incentivize dedicated investment into manufacturing.
• The initiative focuses on three key pillars: New Processes, New Investments, and New Sectors.
• New Processes: Emphasizes simplifying business processes, reducing regulatory hurdles, and ensuring ease of doing business.
• New Investments: Seeks to attract both domestic and foreign investments to boost India's manufacturing sector.
• New Sectors: Includes identifying and promoting 25 priority sectors such as automobiles, pharmaceuticals, textiles, and electronics, among others, for targeted growth and investment.

Additional Information

• Ease of Doing Business: As part of 'Make in India,' the government has implemented reforms such as de-licensing, de-regulation, and digitization of procedures to attract investors.
• FDI Reforms: The initiative has seen the liberalization of Foreign Direct Investment (FDI) norms in sectors like defense, railways, and e-commerce to enhance investment opportunities.
• Skill Development: The program aligns with the 'Skill India' initiative to build a workforce capable of meeting global manufacturing standards.
• Infrastructure Development: 'Make in India' also emphasizes the development of industrial corridors, smart cities, and world-class infrastructure to support manufacturing growth.
• Global Recognition: The initiative has significantly improved India's image as a manufacturing hub and has been instrumental in improving India's ranking in the World Bank's Ease of Doing Business Index.