The Prime Minister, Shri Narendra Modi, today launched the Make in India initiative with an aim to give the Indian economy global recognition.
Addressing a gathering consisting of top global CEOs at the event in Vigyan Bhawan in the capital, the Prime Minister said "FDI" should be understood as "First Develop India" along with "Foreign Direct Investment." He urged investors not to look at India merely as a market, but instead see it as an opportunity.
The Prime Minister said it is important for the purchasing power of the common man to increase, as this would further boost demand, and hence spur development, in addition to benefiting investors. The faster people are pulled out of poverty and brought into the middle class, the more opportunity will there be for global business, the Prime Minister said. Therefore, he said, investors from abroad need to create jobs. Cost effective manufacturing and a handsome buyer - one who has purchasing power - are both required, the Prime Minister said. More employment means more purchasing power, he added.
The Prime Minister said that India is the only country in the world which offers the unique combination of democracy, demography, and demand. He said the new Government was taking initiatives for skill development to ensure that skilled manpower was available for manufacturing. He also referred to the Digital India mission, saying this would ensure that Government processes remained in tune with corporate processes.
The Prime Minister said he had felt a mood of gloom among India`s business community in the last few years, due to lack of clarity on policy issues. He said he had heard even Indian businessmen say that they would leave India and set up business elsewhere. The Prime Minister said this hurt him, and added that no Indian business should feel a compulsion to leave the country under any circumstances. He said on the basis of the experience of the last few months, he could say that the gloom has lifted.
The Prime Minister gave the example of the new Government`s initiative on self-certification of documents, and said this was illustrative of how the new Government trusted the citizens. The Prime Minister said trust is essential for investors to feel secure. Let us begin with trust; if there is an issue, Government can intervene, he said. The Prime Minister said trust too can be a transformative force.
Shri Narendra Modi said development and growth-oriented employment is the government`s responsibility. The Prime Minister noted that India ranks low on the "ease of doing business" and added that he has sensitized Government officials in this regard. He also emphasized the need for "effective" governance.
To the expression "Look East," the Prime Minister added "Link West", and said a global vision was essential. He said Mission Swachh Bharat and "waste to wealth" could lead to good revenue models for business as well. He referred to his vision of waste water management and solid waste management in 500 towns across India through public private partnership.
The Prime Minister also spoke of infrastructure of the future – including i-ways besides highways – and mentioned port led development, optical fibre networks, gas grids and water grids. The Prime Minister also unveiled the Make in India logo, and launched the website makeinindia.com
Union Minister of Heavy Industries and Public Enterprises, Shri Anant Geete has said here today that all round development of industries is the higher priority of the Government. It has taken a number of initiatives for the development of industries. Minister of State for Ministry of Heavy Industries and Public Enterprises, Shri Pon Radhakrishnan, Secretary for Department of Heavy Industries, Dr. Rajan Katoch and Secretary for Department of Public Enterprises, Ms Kusumjit Sidhu was also present.
“Progress of India and development of industries in India are more or less synonymous, because on the one hand industry contributes to GDP significantly and on the other hand, the government gets a lion’s share in the form of tax revenue from industrial production, which the govt. spends on the welfare schemes and a lot of employment opportunities are generated in industrial sector as well. Hon’blePrime Minister has put forth the various dimensions of “Make in India” philosophy before the people in his address today.
So far as the contribution of my Ministry with regard to “Make in India” is concerned, I would like to make it clear that my Ministry is always striving consistently in this direction. In the context of Department of Heavy Industry, the meaning of “Make in India” refers to the, production in India with global quality standards. For this purpose, we will be needing substantial capital and technological investment in India. My Ministry is continually striving to achieve this objective.
Our government has recently conveyed its sanction for a pilot scheme for enabling industries in the capital goods sector to be in line with the global competition for which there is a provision of ` 930 crore, out of which Govt. of India will provide ` 581.22 crore through grants-in-aid and the balance amount will be contributed by the consortium of industries. This scheme includes the following major components;
- Five Centres of Excellence for technology development at IITs (Delhi, Mumbai, Chennai &Kharagpur) and CMTI, Bangalore (Rs. 312.5 crore)
- One Integrated Industrial Infrastructure Facilities Park for Machine Tool, near Bangalore (Rs. 400 crore)
- Two Common Engineering Facilities Centres (one of them at Surat, Gujarat) (Rs. 61.20)
- Testing and Certification Centre for construction equipment and earthmoving machinery (Rs.100 crore)
- Technology acquisition programme (Rs. 50 crore)