Make in India is an initiative that was launched on September 25, 2014, to facilitate investment, foster innovation, building best in class infrastructure, and making India a hub for manufacturing, design, and innovation. The development of a robust manufacturing sector continues to be a key priority of the Indian Government. It was one of the first ‘Vocal for Local’ initiatives that exposed India’s manufacturing domain to the world. The sector has the potential to not only take economic growth to a higher trajectory but also to provide employment to a large pool of our young labour force.
Make in India initiative has made significant achievements and presently focuses on 27 sectors under Make in India 2.0. Department for Promotion of Industry and Internal Trade is coordinating action plans for manufacturing sectors, while the Department of Commerce is coordinating service sectors.
The Government of India is making continuous efforts under Investment Facilitation for the implementation of Make in India action plans to identify potential investors. Support is being provided to Indian Missions abroad and State Governments for organising events, summits, road-shows and other promotional activities to attract investment in the country under the Make in India banner. Investment Outreach activities are being carried out for enhancing International co-operation for promoting FDI and improve the Ease of Doing Business in the country.
India has registered its highest-ever annual FDI Inflow of US $74.39 billion (provisional figure) during the last financial year 2019-20 as compared to the US $ 45.15 billion in 2014-2015. In the last six financial years (2014-20), India has received an FDI inflow worth US$ 358.30 billion which is 53 per cent of the FDI reported in the last 20 years (US$ 681.87 billion).
Startup India:
Startup India is a flagship initiative of the Government of India, intended to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities.
There is no direct fund allocation from DPIIT to States/UTs under the Startup India initiative. However, the Government of India has established a Fund of Funds for Startups (FFS) with a corpus of Rs. 10,000 crores, to meet the funding needs of startups. DPIIT is the monitoring agency and the Small Industries Development Bank of India (SIDBI) is the operating agency for FFS. The total corpus of Rs. 10,000 crores are envisaged to be provided over the 14th and 15th Finance Commission cycles based on the progress of the scheme and availability of funds.
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