2 Years agoShowcasing the potential of design, innovation and sustainability across India's manufacturing sectors in the coming decade.
The Make in India initiative was launched globally in September 2014, as part of the Government of India’s renewed focus on invigorating the country’s manufacturing sector. The landmark initiative has made a tremendous impact on the investment climate of the country, and reflects in the significant growth of overall Foreign Direct Investment (FDI).
Since its launch, the Government of India has taken several reform initiatives to create an enabling environment that has provided a push to manufacturing, design, innovation and entrepreneurship. With a growth rate of 7.5%, India has emerged as the fastest growing economy globally and it remains an oasis in the midst of a subdued economic landscape. The Prime Minister has given further impetus to India’s growth with several innovative initiatives such as “Digital India”, “100 Smart Cities” and “Skill India”.
The Make in India initiative, in particular, aims to make India an integral part of the global supply chain. Key focus sectors such as defence, railways, construction, insurance, pension funds and medical devices have all been rapidly opened up for Foreign Direct Investment. The Government of India has also taken up a series of measures to radically improve its ‘Ease of Doing Business’ ranking. With an objective to make the regulatory environment easy and simple for business to flourish, the Government has effectively used technology to converge and integrate different departments. 14 services are integrated within the ‘eBiz portal’, which will function as a single window portal for obtaining clearances from various government agencies.
Make in India has already created a strong impact with tangible results:
1. India is now 1st amongst the world’s fastest growing economies (Source: International Monetary Fund)
2. India is 1st amongst the world’s topmost greenfield FDI destinations, January-June 2015 (Source: Financial Times, FDI Markets)
3. India is 1st amongst the 100 Countries in the growth, innovation and leadership index. (Source: Frost & Sullivan)
4. India is 1st amongst the world’s fastest growing economies in both 2016-2017. (Source: WESP Report 2016, United Nations)
5. India is the 1st choice for technological MNCs to set up R&D centres outside their home countries. (Source: Zinnow Management Consulting Report)
6. India is the 7th Most valued nation brand in the world. (Source: Brand Finance)
7. India is 1st amongst the world’s most attractive investment destinations. (Ernst & Young – 2015 India Attractiveness Survey)
8. India is now 1st amongst 110 investment destinations polled globally. (Foreign Policy Magazine, Baseline Profitability Index, 2015)
9. India is amongst the top 10 investment destinations. (Source: World Investment Report 2015, UNCTAD)
10. India’s rank jumped 12 places on the ‘Ease of Doing Business’ 2016 list. (Source: World Bank)
11. India moved 16 places on the Global Competitiveness Index 2015-16. (Source: World Economic Forum)
12. India has recorded 35% Growth in FDI Equity Inflows. (Source: Department of Industrial Policy & Research)
In order to keep this momentum going, the Government of India is organizing a landmark event called the “Make in India Week” in Mumbai from Feb 13 - Feb 18, 2016. This week-long event will be inaugurated by the Prime Minister of India.
The theme of the Make in India Week is innovation, design and sustainability. A number of events have been planned around this theme on the larger canvas of manufacturing. This includes:
1. Make in India Centre – An exhibition of India’s most innovative products and manufacturing processes.
- State Investment Seminars - Various state investment seminars are planned as part of the Make in India Week. Maharashtra, Andhra Pradesh, Jharkhand, Gujrat, Madhya Pradesh, Chhattisgarh, Haryana and Odisha are just a few of the states that have confirmed their participation.
- Sector Seminars – Close to 20 sector seminars have been planned around the key focus sectors of the Make in India initiative.
3. Time India Awards – Panel discussion on innovation, entrepreneurship, intelligent manufacturing and awards on innovation.
4. Make in Mumbai – An urban planning session and an exhibition on the best practices for building cities by adopting technology at the Make in India Centre.
5. Driving Innovation: Hackathon – Industry and academia interaction featuring manufacturing success stories, start-ups, an exhibition on innovation by IIT Bombay as well as a competition on urban design problems.
6. Port of Call – An exhibition on India’s maritime manufacturing capabilities.
7. Global Brand Building – A day-long session on global design and innovation.
8. Empowerment through Design – A forum on rethinking contemporary design practice.