“Make in India” is a campaign launched in 2014 by Prime Minister Modi, that invites companies from around the world to establish their own factories in India and then export abroad.
The campaign promotes investments in 25 strategic sectors for the national economy.
The Indian government intends to guide development towards a model focused on high-intensity production and intends to transform the Indian economy into a global industrial center.
India is becoming one of the main global destinations for the manufacturing sector: the Subcontinent is today proposed as the only real interesting destination in the Asian quadrant, in terms of volumes and growth.
The goals of “Make in India”:
- to guide development towards a model oriented towards high-intensity production and no longer services.
- to transform the economy of the Subcontinent into a global industrial center.
- to increase manufacturing growth by at least 10%.
- to create 10 million jobs (of which at least 125,000 within the next twelve months).
- to increase the number of foreign factories and infrastructure investments.
The program’s focus sectors:
For the correct implementation of “Make in India”, New Delhi has identified 25 key sectors, considered of greatest interest for foreign entrepreneurs, and which, according to Modi, present a greater potential to contribute exponentially to the growth of the country and to increase its role globally. These sectors will be subject of tax relief and incentives, including: automotive, IT, food processing, textiles, construction, infrastructure, tourism, chemicals, pharmaceuticals, electronics, energy and telecommunications.
According to the campaign, the Government, to facilitate the inflow of capital from abroad and create a more business-friendly environment, will continue in the process of streamlining bureaucratic procedures that hinder the entry of these capitals, implementing measures aimed at deregulation, which are both clear, rapid and transparent.
The Government also intends to further promote the role of micro, small and medium-sized enterprises, which can play a fundamental role in ensuring that the country can achieve the necessary leap to establish itself as a global hub for the productive sector.
To date, SMEs represent 90% of all industrial units and 40% of total local manufacturing exports. A situation very similar to the Italian one and that bodes well for the potential synergies between the two countries.
DIGITAL INDIA, with the aim of providing adequate infrastructures (high speed internet services) e-Government, and digital enhancement for all citizens;
START UP INDIA, with the aim of increasing the rate of innovation of the Indian economy by outlining a regime of tax incentives and administrative facilities aimed at promoting the Start-UPS ecosystem in India;
SMART CITIES, with the aim of developing more than 100 smart and cutting-edge cities. The fundamental vision of the initiative is to provide an adequate water supply, supply of electricity, sanitation, including solid waste management, efficient urban mobility and public transport, affordable housing, robust connectivity and digitization, better governance and better civic participation;
NATIONAL HEALTH PROTECTION SCHEME, with two objectives: the creation of a network of infrastructures for the well-being of the nation, to promote complete basic health services to guarantee health insurance coverage for at least 40% of the Indian population that is without health services.