Make in India

The launch of the ‘Make in India’ campaign by Prime Minister Narendra Modi to attract foreign investments and boost the manufacturing sector of India has been timed to perfection. It comes a day after India’s indigenously manufactured satellite Mangalyaan was successfully put in the Martian orbit, showing to the world the progress India has made in manufacturing processes, technology, science and innovation. It also comes a day ahead of the PM’s visit to the US. ‘Make in India’ is intended to provide a major fillip to India’s manufacturing industry which currently contributes about 15% of the national GDP.

The Prime Minister released a brochure with all the information that will be required by investors about 25 key sectors in India. The brochure carried the newly designed ‘Make In India’ logo which has been inspired by the Ashoka Chakra and the lion. A large number of Indian corporate honchos were present at the launch of the campaign in Delhi on Thursday.

Here are some of the key takeaways from the Prime Minister’s speech at the launch ceremony.

  • Trust and confidence in the government and policymakers have been lost. These need to be regained.
  • We do not want to see any company or enterprise leave India due to business constraints
  • An environment of trust will convince industry leaders of the government’s commitment to developing industry
  • FDI is a responsibility for the people and an opportunity for the global investors; FDI for Indians should be “First Develop India” and Foreign Direct Investment for the investors
  • Only when India moves away from poverty will purchasing power in the country increase and when this happens the country will start to bloom as a grand huge market for industries
  • The movement away from poverty will come from increase in employment; employment will come only when we start developing the manufacturing sector in India.
  • Investors are not attracted by incentives; investment will be attracted only by friendly policies and a secure environment
  • Ease of business is important for development; India has slipped low in the list of countries in terms of ease of doing business
  • Scrutiny and red tape should not create barriers for development; simplification of processes should be the focus and redundancy done away with
  • The world is looking to invest in Asia, particularly in Asian democracies, and in places with high demand – India fits the bill perfectly
  • Effective governance is a key factor in attracting investors; the government needs to reassure investors of its effectiveness in promoting business and industry
  • Skilled manpower mapped to the natural potential and creation of sustainable growth will be the focus of ‘Make in India’
  • Private-public partnership must be the basis of skills development in the country
  • It is the government’s responsibility to facilitate the creation of an environment conducive to development
  • 65% population of the country is less than 35 years of age – there is immense manpower. After the indigenous development of Mangalyaan, India’s talent and skills too cannot be questioned
  • Digital India is the crux of effective governance; if this is not achieved, the governance and society will stay divergent. Ease of governance will come only with use of technology
  • For years we have been emphasizing on Look East; only when we link West to this will we develop
  • There are numerous opportunities in manufacturing and to develop this sector we will require a whole new world of infrastructure – from highways to I(nformation) ways, gas, water pipelines, ports, and a lot many more
  • This government does not have a political agenda; it is dedicated to development as an article of faith
  • The life and destiny of India can and will be changed for the better
  • May Indian companies become multinational organizations but only when they grow and develop with India
  • Only when the Centre and the state governments work together in tandem can India’s true development potential be tapped into; development of states is the development of the country
  • ‘Make in India’ is our responsibility; may India garner strength with this mission
  • The ‘Make in India’ campaign is dedicated to Pandit Deendayal Upadhyaya, the patriotic thinker and philosopher

And here is what some of the top industrialists said in their speeches:

Cyrus Mistry – Chairman, Tata Sons

  • Make In India is a timely opportunity for Indian companies to grow and contribute to the development of the country
  • India’s manufacturing sector needs to grow – to contribute at least 25% of the GDP – to be at par with other Asian countries. It currently contributes just over 15%
  • Labour laws need to be reformed for the sector to develop
  • Transparent laws and industry-friendly policies need to be framed
  • Rollout of the GST (Goods & Services Tax) needs to be expedited, and reforming tax structure is imperative
  • Tata Group is committed to investing in India

Kenichi Ayukawa – MD and CEO, Maruti Suzuki India

  • Suzuki’s India venture has been the most successful
  • Cars in India are manufactured at a lower in cost
  • The government must work to remove factors affecting manufacturing competitiveness

Mukesh Ambani – Chairman & Managing Director, Reliance Industries

  • This is a historic day for the Indian manufacturing industry
  • ‘Make in India’ is about the present and future, not about the past
  • Reliance will create 1.25 lakh jobs in next 12-15 months
  • There is a great need to connect village clusters to global markets to promote export
  • India needs to be open to foreign capital investment and import of expertise

Azim Premji – Chairman, Wipro Limited

  • Products made in India are suitable for all extreme climates
  • Indian products represent a blend of low-cost and innovation in designs
  • 80% sourcing of raw material for Wipro comes from domestic suppliers

KM Birla – Chairman, Aditya Birla Group

  • It is high time India becomes a preferred manufacturing hub
  • We need millions of jobs to prop up our economy
  • India has all that is needed to make it a key manufacturing destination – skills, raw material, and entrepreneurship

Chanda Kochchar – MD & CEO, ICICI Bank

  • Make in India is the next growth driver for India
  • Manufacturing sector can add 9 crore jobs in the coming decade
  • Quality, cost, and sustainability – the three things that need to be ensured
  • Emphasis needs to be on transparence of policy, infrastructure, skills development, and priority areas

Phil Shaw – CEO, Lockheed Martin

  • India is the epicentre of innovation

Y C Deveshwar – Chairman, ITC

  • Jobless growth unsustainable
  • 12 million youth are looking for employment and 2 million jobs are available – this gap needs to be plugged
  • Biggest beneficiaries of Make in India is the youth
  • Inflation and unemployment can be eliminated by Make in India

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