The Prime Minister Narendra Modi today launched the Make In India campaign at Vigyan Bhawan in New Delhi. Make in India is an initiative of PM Narendra Modi to attract investors and companies, both foreign and local to start business in India thereby creating more jobs and opportunities in India. It’s a major new national program designed to transform India into a global manufacturing hub.
You can visit the Make in India website here.
The website has all the vital information needed for setting up shops in India separated with different industry verticals. The website includes information related to 25 industries and each industry has the sub sections like summary, reasons to invest, statistics, growth drivers, FDI policies, sector policies, financial support, investment opportunities, foreign investors and agencies.
The website also has information about Prime Ministers dream project Industrial Corridor which is building a pentagon of corridors across the country to boost manufacturing and to project India as a Global Manufacturing destination of the world.
Apart from the sectors and industries, the website holds different policies set up by the government to support the business establishments who are planning to set up shops in India.
The Make in India program includes major new initiatives designed to facilitate investment, foster innovation, protect intellectual property, and build best-in-class manufacturing infrastructure.
As per the website, the Make in India program represents an attitudinal shift in how India relates to investors: not as a permit-issuing authority, but as a true business partner.
- Dedicated teams that will guide and assist first-time investors, from time of arrival
- Focussed targeting of companies across sectors
Recent Policy Measures:
- 100% FDI allowed in the telecom sector.
- 100% FDI in single-brand retail.
- FDI in commodity exchanges, stock exchanges & depositories, power exchanges, petroleum refining by PSUs, courier services under the government route has now been brought under the automatic route.
- Removal of restriction in tea plantation sector.
- FDI limit raised to 74% in credit information & 100% in asset reconstruction companies.
- FDI limit of 26% in defence sector raised to 49% under Government approval route. Foreign Portfolio Investment up to 24% permitted under automatic route. FDI beyond 49% is also allowed on a case to case basis with the approval of Cabinet Committee on Security.
- Construction, operation and maintenance of specified activities of Railway sector opened to 100% foreign direct investment under automatic route.
The platform has a very good FAQ section and the potential investors can contact the Investor Facilitation Cell through the contact us page.