'Make in India' is an initiative by the India, launched in Government of India, of September 2014, to make and encourage companies to develop, manufacture and assemble products made in India and incentivize dedicated investments into manufacturing.
Promise of BRICS Nations (Brazil, Russia, India, China and South Africa) had more or less subsided. India was tagged as one of the so-called 'Fragile Five'. Global investors debated whether the world's largest democracy was a risk or an opportunity.
Department for Promotion of Industry and Internal Trade (DPIIT) initiated the Make in India process with the participation of Union Ministers, Secretaries to Government of India, State Governments, industry leaders, and various knowledge partners.
Various sectors have since been opened-up for FDI, such as defence manufacturing, railways, space, singlebrand retail, etc. Regulatory policies were relaxed to facilitate more investments for ease of doing business. Across various regions of the country, six industrial corridors are being developed. Industrial cities will also come up along these corridors.
Make in India is perhaps, opening the investment doors for India. Indian Prime Minister Narendra Modi announced a ₹20 lakh crore economic package under the Atmanirbhar Bharat Abhiyaan, to aid the country out of the Coronavirus crisis, by making India self-reliant.
Today, many sectors have joined the program. These include automobile and components, aviation, biotechnology, chemicals, construction, electrical machinery, electronics systems, food processing, IT and BPM, leather, media and entertainment, mining, oil and gas, pharmaceuticals, ports, shipping, railways, renewable energy, roads and highways, space, textiles, thermal power, tourism, etc.
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