Make in India celebrates 10 years
Context:
The ‘Make in India’ initiative which was started in 2014, completed ten years.
Relevance:
GS02 (Government policies and interventions)
Key Highlights:
- Objective and Vision: The ‘Make in India’ campaign was introduced to boost manufacturing in India by attracting foreign investments, fostering innovation, and building world-class infrastructure. It targets increasing the manufacturing sector’s growth rate, creating jobs, and raising its contribution to GDP to 25% by 2025.
- Make in India 2.0: In its second phase, the initiative now focuses on 27 sectors, including electronics, defence, automobiles, and textiles, aiming to consolidate India’s position as a major global player in manufacturing.
- Major Initiatives: Key schemes under ‘Make in India’ include the Production Linked Incentive (PLI) Scheme, which has attracted ₹1.23 lakh crore in investments and generated nearly 8 lakh jobs as of July 2024. Other initiatives include PM GatiShakti, Semicon India Programme, Startup India, and the National Logistics Policy.
- Achievements: India’s electronics sector has nearly doubled in size, making the country the second-largest mobile phone manufacturer globally. Indigenous production milestones include the Vande Bharat trains and INS Vikrant, India’s first domestically built aircraft carrier. Additionally, India has emerged as a global vaccine hub, supplying nearly 60% of the world’s vaccines during the COVID-19 pandemic.
- Challenges: Despite significant progress, challenges persist, including India’s low rank (5th) in the Global Manufacturing Index, a relatively low manufacturing contribution to GDP (17% in FY 2022-23), and insufficient skill development in the workforce. Moreover, supply chain disruptions and the need for more substantial investments in research and development remain concerns for the program’s long-term success.
